Lease length

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Lease length (by John [OR]) Jun 2, 2009 8:56 PM

Lease length (by BRAD_IN [IN]) Jun 2, 2009 9:21 PM

Lease length (by billy [MA]) Jun 3, 2009 7:23 AM

Lease length (by John [OR]) Posted on: Jun 2, 2009 8:56 PM
Message:

State Specific Question About: OREGON (OR)

I've been fortunate to have the same renters for 7 years.They're retired and the rent's always paid on time. I've had just three rent increases during that time.

This past year the lease was up on April 30.But because I was dealing with personal issues-I didn't get the lease to them until yesterday, June 1.The increase was for $15. The'd included this already in their June rent payment as it was agrred from last year. I gave them an 11 month lease from June 1, '09- April 30, 2010. Should I amend this to 12-mos or is 11 mos ok. They paid the old rate for May of $790. Should I have been handled this differently? I figured they had may had a discount. The renatal is probably $75-$90 below market.Thanks.

--71.193.xxx.xxx

Lease length (by BRAD_IN [IN]) Posted on: Jun 2, 2009 9:21 PM
Message:

Let me think...

-7 years of consistent income

-they followed thru on a commitment from a year ago

-paid the increase with barking

-place is rented

-no advertising

-no phone calls

-no showings

-no applications to screen

-no turnover repairs/updates

-no vacancy between tenants

-still rented in a bad recession

No brainer. Keep them happy and keep them there. I'd offer to upgrade some paint or free carpet shampoo.

We figure 3 months rent in turnover costs plus hassle.

Keep doing what you're doing. --69.243.xxx.xx

Lease length (by billy [MA]) Posted on: Jun 3, 2009 7:23 AM
Message:

11 sounds ok to me.glad u got some good ones.hope u toss them something around the holidays in gratitude --208.58.x.xx

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Lease length

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