 month to month (by Thomas Sidowski [DE]) May 21, 2017 3:14 PM
 month to month (by WMH [NC]) May 21, 2017 3:19 PM
month to month (by Robert J [CA]) May 21, 2017 3:24 PM
month to month (by NE [PA]) May 21, 2017 3:30 PM
month to month (by WMH [NC]) May 21, 2017 3:43 PM
month to month (by Vee [OH]) May 21, 2017 5:15 PM
month to month (by Thomas Sidowski [DE]) Posted on: May 21, 2017 3:14 PM
Message:
have a tenant who's house purchase fell thru and asks to go month to month. any drawbacks to raising rent or perfect timing? always raise rents when going m/m? thx
--72.94.xx.xxx |
month to month (by WMH [NC]) Posted on: May 21, 2017 3:19 PM
Message:
I tell them sorry but we only do annual leases...especially at this time of year, when people are looking for them. If they are in a lease and break it, at least you can negotiate either ELT or retain security deposit for lost rent, etc.
If you don't, they will move in November or some horrible month and nothing you can do, if they give proper notice.
--173.22.xx.xx |
month to month (by Robert J [CA]) Posted on: May 21, 2017 3:24 PM
Message:
I mostly always try to work with my tenants and allow them to stay longer, even on a month to month tenancy -- EXCEPT when the property:
A) Has a pool and winter is around the corner and harder to rent during cold seasons.
B) The property in on or near the beach and off seasons command lessor rents.
C) Newer buildings are opening up down the street and offering move-in discounts making my property harder to rent.
In these cases, I ask my tenant to compensate me for additional losses due to their overstay -- after giving me written notice of moving and now staying long after that move-out-date. (not talking just a few days or a week, but longer). --47.156.xx.xxx |
month to month (by NE [PA]) Posted on: May 21, 2017 3:30 PM
Message:
It would be nice it you could find out through casual conversation why the house sale fell through. If they couldn't secure financing, they may not understand what that means and continue to look. Perfect reason to bump the rent and leave them on month to month.
If it fell through for issues with the house, you can almost guarantee that they are looking for another house.
Either way, you can tell them your standard lease is 1 year, but you will "work with them" and they can't stay on a month to month incase they find another
House.
I think you're in a good position to bump it up. --50.32.xxx.xxx |
month to month (by WMH [NC]) Posted on: May 21, 2017 3:43 PM
Message:
If they continue to look, that's fine. I will work with them if they actually find a place and are able to make it all work. My experience with house-hunting tenants is they tend to be VERY cooperative when they have a lease, because they need you to give good input to the bank, not ding their credit, etc.
So I insist on a new lease, but make it clear that if they find the house of their dreams, we will work with them to get out of the lease AS LONG AS WE ARE NOT FINANCIALLY HARMED...
If they end up having a November closing date, fine, if they give me 60 days notice and allow me to show and find new tenants and all those good things... --173.22.xx.xx |
month to month (by Vee [OH]) Posted on: May 21, 2017 5:15 PM
Message:
If the sale fell thru they are gonna need at least 6 months to fix that and shop another house,just put them back into a 12 month lease with the ELT wording. --76.188.xxx.xx |
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