Guest Jack Report post Posted January 31, 2003 Is a shorter lease term ( month-to-month ) better than a 1-2 yr. lease in the event I need to evictor increase rent? Share this post Link to post Share on other sites
MichaelC 160 Report post Posted January 31, 2003 That depends upon what your objectives are with the particular property. For example, with a lease purchase type deal, every tenant/buyer you speak with is going to want time. The more the better. If you offer a six month rent to own, Jack, you'll be as lonely as the Maytag repair man. Few will want to commit nonrefundable option money with the risk of having but a few months to obtain financing.On the other hand, if you are simply leasing a property, perhaps in an area that doesn't attract stability and is lower income, shorter term and month to month leases might be beneficial. Share this post Link to post Share on other sites
scott(pa) 0 Report post Posted January 31, 2003 Jack like Michael said. I dont think you will get to many people putting much option consideration down on a one month lease. I would do a year. You do need to check references to make sure you are getting a stable tenant/buyer. If for any reason you think someone is only worthy of a one month lease because you dont think they will pay you, then you do not want that person in your home. Consider the fact that you would have to evict this person. Its not worth it. A year gives you the piece of mind of knowing that home is handled for a year. You will be very busy if you have 20 homes under contract on one month leases. Good Luck Scot(pa) Share this post Link to post Share on other sites
