Quote:
Originally Posted by photon
The other thing I'm doing more lately is putting new tenants on fixed 3 or six month terms to start with with the wording being that unless otherwise agreed upon by both parties the tenancy ends.
While it might increase turnover a bit, I'm finding I have less a problem with turnover and more a problem with terrible tenants despite looking good on paper, and this give us a "trial" period that I can just choose not to extend and they have to leave.. a periodic I'd have to go to court and all that jazz, this way I figure there's no agreement they're squatters! 
Haven't had to enforce it yet though. |
For both of my places I had them on one year fixed term leases. I had never been a landlord before, so I was a little nervous about getting into it. A guy at work suggested it and I think it's great. I approached each one 8 weeks before the end of the contract and since they were both good, asked if they wanted to renew for another year. If they wanted a different term I'd work with them, but I was not going to go on a month to month. Both accepted and we are all happy.