Updating a year lease letter Free xxxx chat without registration
If the rent is too high, you may lose a good tenant to some place that is more affordable. You may want to encourage them to sign a longer lease at a reduced rate, or suggest renewing a lease agreement on a month to month basis.In the end, you’ll need to weigh the risks and costs of tenant turnover and decide if you are willing to make concessions to keep a good tenant longer.For example, a request to repaint the apartment might seem reasonable given the expenses associated with finding a new tenant.You might even find that you would need to update your property in order to rent it, so you’re still saving money.In this type of situation, it might make sense to look for a more reliable tenant.
The longer it takes to find a new tenant, the more expensive the process becomes.
For example, you are accustomed to how they pay each month and they know how to get in touch with you regarding maintenance issues. Finding a new tenant can cost you time and money, but so can chasing down rent.
If your tenant has been late with rent on numerous occasions or broken the rules in the lease agreement, you may not wish to renew their lease.
If you do decide to not renew a lease, be sure to check your local and state housing laws on the matter so that you follow appropriate rules and regulations regarding lease termination, including required notices.
When a lease expires, a tenant may opt to move, renew a lease, or continue to pay rent as a month to month tenant.