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lease - 15 months vs. 12 months
by Thomas
on March 15, 2024 @10:22
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Other than 3 more months, have a new tenant who wants 15 months vs. 12 months, I can't think what the downside is for landlord, does anyone?
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Re: lease - 15 months vs. 12 months
by Tom
on March 16, 2024 @13:40
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Is this a prospective tenant? At the end of the term would you go M2M or require a new lease?
The tenant asking for 15 months raises a couple of flags for me.
First is that it establishes a precedent that your terms are flexible/negotiable. This could lead to a relationship where the tenant expects other compromises from you in the future.
Second, think about why this tenant wants 15 months. If it were to simply lock in the rental rate, one would think they'd ask for an even longer term. I'd assume that they intend to move out in 15 months, for whatever reason. Are you okay with that? I prefer a tenant that is potentially long-term versus one that has signaled that they're not.
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