plan to rent only 1 year
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plan to rent only 1 year (by David [MI]) Jun 18, 2019 11:07 AM
       plan to rent only 1 year (by S i d [MO]) Jun 18, 2019 11:13 AM
       plan to rent only 1 year (by RB [MI]) Jun 18, 2019 11:18 AM
       plan to rent only 1 year (by David [MI]) Jun 18, 2019 11:20 AM
       plan to rent only 1 year (by Robert J [CA]) Jun 18, 2019 11:35 AM
       plan to rent only 1 year (by NE [PA]) Jun 18, 2019 11:35 AM
       plan to rent only 1 year (by WMH [NC]) Jun 18, 2019 11:53 AM
       plan to rent only 1 year (by Deanna [TX]) Jun 18, 2019 12:00 PM
       plan to rent only 1 year (by CathyR [MO]) Jun 18, 2019 12:06 PM
       plan to rent only 1 year (by S i d [MO]) Jun 18, 2019 12:14 PM
       plan to rent only 1 year (by Still Learning [NH]) Jun 18, 2019 12:28 PM
       plan to rent only 1 year (by myob [GA]) Jun 18, 2019 2:57 PM
       plan to rent only 1 year (by Pat [WA]) Jun 18, 2019 3:05 PM
       plan to rent only 1 year (by WMH [NC]) Jun 18, 2019 4:34 PM
       plan to rent only 1 year (by Frank [NJ]) Jun 18, 2019 4:36 PM
       plan to rent only 1 year (by David [MI]) Jun 18, 2019 5:50 PM
       plan to rent only 1 year (by Deanna [TX]) Jun 18, 2019 6:53 PM
       plan to rent only 1 year (by 6x6 [TN]) Jun 18, 2019 8:08 PM
       plan to rent only 1 year (by JKJ [MA]) Jun 18, 2019 9:25 PM
       plan to rent only 1 year (by Nellie [ME]) Jun 18, 2019 10:01 PM
       plan to rent only 1 year (by S i d [MO]) Jun 19, 2019 10:38 AM
       plan to rent only 1 year (by David [MI]) Jun 19, 2019 10:58 AM
       plan to rent only 1 year (by David [MI]) Jun 19, 2019 10:59 AM
       plan to rent only 1 year (by myob [GA]) Jun 19, 2019 11:52 AM
       plan to rent only 1 year (by David [MI]) Jun 19, 2019 1:10 PM
       plan to rent only 1 year (by myob [GA]) Jun 19, 2019 1:46 PM
       plan to rent only 1 year (by CGB [MI]) Jun 19, 2019 11:58 PM
       plan to rent only 1 year (by Cjo’h [CT]) Jun 20, 2019 2:43 AM
       plan to rent only 1 year (by RentsDue [MA]) Jun 20, 2019 8:19 AM
       plan to rent only 1 year (by Jim In O C [CA]) Jun 20, 2019 9:31 AM
       plan to rent only 1 year (by Cjo’h [CT]) Jun 20, 2019 5:19 PM

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plan to rent only 1 year (by David [MI]) Posted on: Jun 18, 2019 11:07 AM
Message:

If an applicant just up and tells you that they are planning to rent for only a year until they buy a house or some other reason which says they will only be renting for a year , how to deny based on that?

--144.250.xx.xx




plan to rent only 1 year (by S i d [MO]) Posted on: Jun 18, 2019 11:13 AM
Message:

Mike Butler--author of Land lording on Autopilot--addressed this at the Mr. LL Convention several years ago. He writes his leases for 3 years. If someone is not willing to sign on for that long, he will not rent to them.

Unless there are laws in MI that prohibit leases for longer than 1 years, simply decide what is your minimum acceptable rental time and write the initial lease for that amount of time. Be sure to include ETF in case they want to move out early. If they are not willing to sign a lease for x-years, then there is no need for you to deny them. They have taken themselves out of your market by default. --173.20.xxx.xxx




plan to rent only 1 year (by RB [MI]) Posted on: Jun 18, 2019 11:18 AM
Message:

Play the odds.

Most stay longer.

--184.53.x.xxx




plan to rent only 1 year (by David [MI]) Posted on: Jun 18, 2019 11:20 AM
Message:

The reason I want a YEARLY lease , and not m2m, is because MI's rental market is highly seasonal, it is dead between Labor Day and Memorial day.

There are a lot of practical reasons why I don't want to sign a 3 (or even 2) year lease. Mainly because I don't want to be stuck evicting based on some clause in the lease as opposed to just raising the rent.

My question is basically, I don't want to rent to applicants who've already decided they will just be living a year, how can I just deny them without baking myself into a multi-year lease? --144.250.xx.xx




plan to rent only 1 year (by Robert J [CA]) Posted on: Jun 18, 2019 11:35 AM
Message:

A family wanted to rent one of my nicest homes. I did a complete remodel a few years back. They only wanted a 1 year lease. Why? Because the husband and wife went through a foreclosure and needed time to rebuild their credit. The wife's father was selling his home and was going to move in with them. From the proceeds of the sale of the fathers home, they would have around A 50% down payment.

So what happened? The couple had a second child. Prices of homes kept on going up. They purchased a couple new cars and soon their savings was going south, not up.

It's now been 2 years and they are still planing to buy a home. But the father doesn't want to use all of his savings and the couple hasn't save enough for their share. At this rate they will continue to rent from me for another 5 years.... --47.156.xx.xx




plan to rent only 1 year (by NE [PA]) Posted on: Jun 18, 2019 11:35 AM
Message:

Don't you mean how to approve? Perfect time for the ELT Fee. --174.201.x.x




plan to rent only 1 year (by WMH [NC]) Posted on: Jun 18, 2019 11:53 AM
Message:

I have refused people simply for that reason! I tell people, "We do one year RENEWABLE leases, assuming all goes well for us both. We don't want people moving out and in every year."

Now some people throw out "we are saving to buy a house" as a wish or a prayer and will still be there years later. But if they seem really certain about it, I refuse them. --50.82.xxx.xx




plan to rent only 1 year (by Deanna [TX]) Posted on: Jun 18, 2019 12:00 PM
Message:

If you want to deny them based on just-one-year, then go ahead and require your tenants to sign on to a 2, 3, or 5-year lease. You'd then limit yourselves to people who can commit to 2, 3, or 5 years in the future... which limits your applicant pool... but if it's what you want, that's cool.

Otherwise, I wouldn't reject just based on their plans for themselves a year from now. No one sees the future. Buying a house has a lot of moving parts to it-- you need to find a house you like, in a place you like, that you can afford, that you can get qualified for a mortgage on. Any one of those things can go askew. People get laid off, and while the area they had been considering would have been perfect for their old job, it would be very inconvenient for their new job. People get sick or injured. People have children. People think they'll qualify for $x, but now they don't, because someone's hours changed. Parents get ill or sick. All sorts of things can push a major purchase onto the back burner, while they put their resources to coping with real life.

I had a football coach and his teacher wife rent from me for their first year in town. The football team had one of their best years in the last decade, and the school district was very happy. Things looked good, so they gave me their notice and bought a house. The next year, the football team had a terrible season, as usual... and the school district decided fired the old head coach, and hired a new one. The incoming head coach then fired all the rest of the coaches to bring in his own coaching staff. So now, they were saddled with a mortgage... and only had half their income. She stayed in town for the next school year to teach and have her baby, and he got a job elsewhere. The year after, she followed him to wherever he had set up, and I lost track of them.

But that was an example of how none of us predicted reality. I had thought that they would be sensible, and rent from me for as long as they were in the area, since coaching is an especially unstable form of employment. They had thought they'd be here for the next 5-10 years, so they invested in a house go give themselves roots and start a family. --96.46.xxx.xx




plan to rent only 1 year (by CathyR [MO]) Posted on: Jun 18, 2019 12:06 PM
Message:

I can't tell you how many tenants I have had who opt for a month-to-month lease renewal (at a higher rate) rather than extend for another year...and stay for years after that! I realize that your situation is a little different since this would be a brand new lease but I think this is just another example that no one knows what the future holds, and your new tenant who says they are only staying a year are just as likely to stay much longer. If they qualify in every other way, I would take them!

--99.10.xx.xxx




plan to rent only 1 year (by S i d [MO]) Posted on: Jun 18, 2019 12:14 PM
Message:

David, I don't think you can have your cake and eat it too in this situation. You want them to stay longer than a year, you must write the lease to lock them in for longer than a year.

If your lease is well-written, and unless MI laws are screwy in favor of the tenant, you should be able to evict if they are in material breach of the lease.

The only reason I have ever evicted is for non-payment of rent. The rest I simply non-renew if they get silly with me. Our processes and up-front setting of expectations handle much of the drama other LLs deal with, so it is rare that I even consider evicting a tenant for any other lease violation. I have non-renewed several, though. This can work to your advantage early on in the relationship. One time, I sent a non-renewal within 2 months of signing the lease to a real PITA. That shaped them up, and they quieted down and ended up staying almost 3 years.

If up-front expectations and/or the threat of non-renewal fails you always have the Happy Clause.

--173.20.xxx.xxx




plan to rent only 1 year (by Still Learning [NH]) Posted on: Jun 18, 2019 12:28 PM
Message:

I’ve heard that before and they all stayed more than a year. On the other hand, those who seem stable have broken a lease due to a break up or job change. We do our best but none of us have a crystal ball which is why we strive for good lease clauses to use in our favor when needed. Do everything else meet your criteria? Deny based on something else if this is a deal breaker. --24.61.xxx.xx




plan to rent only 1 year (by myob [GA]) Posted on: Jun 18, 2019 2:57 PM
Message:

I've said this here for years. WHY would anyone want a tenant-- "guaranteed" for more than 12 months? Like fish and relatives they start to stick in 12 months.

We thought we had top dollar 2 years ago and thought -- maybe we should do 2 or 3 years? thank gosh we didn't we would have missed out on 3 hugh rent increases X's 60 SFH's.

Here around ATL-- there isn't anything SFH wise to rent. SOOOOO rents are again going up. --99.103.xxx.xxx




plan to rent only 1 year (by Pat [WA]) Posted on: Jun 18, 2019 3:05 PM
Message:

I rented to a couple M2M who bought a house and gave notice after 6 months. They had not told me they planned to buy a house. So they let me show the house and I rented it to another couple. Their decided not to buy the house because of needed repairs that the seller wouldn’t pay for. So...they ask me if they could stay in the house. I happily said NO. It’s rented. They had to move in with her parents!!! I knew that house deals can fall through or be delayed by any number of reasons. --73.193.xxx.xxx




plan to rent only 1 year (by WMH [NC]) Posted on: Jun 18, 2019 4:34 PM
Message:

Exactly.

First-time house buyers are full of drama, from inspections that fail to closings that get delayed to contractors who don't show up to perform work, etc.

No thanks. --50.82.xxx.xx




plan to rent only 1 year (by Frank [NJ]) Posted on: Jun 18, 2019 4:36 PM
Message:

I would not give any credence to a W2 from a former jo. They can be too easily faked.

I just saw a C-list post for any and all types of fake ID'S and paperwork. --174.225.xxx.xxx




plan to rent only 1 year (by David [MI]) Posted on: Jun 18, 2019 5:50 PM
Message:

Sid, I'm not sure where the cake is. The tenant tells me before lease signing "I'm only going to stay a year." I'm simply looking for a criteria to base denial on. Doesn't even involve the lease. --50.4.xxx.x




plan to rent only 1 year (by Deanna [TX]) Posted on: Jun 18, 2019 6:53 PM
Message:

Ah, so you've already offered them the place, they've accepted, they show up with money, you show up with papers and keys, and now you're wanting to back out because of the additional information? --96.46.xxx.xx




plan to rent only 1 year (by 6x6 [TN]) Posted on: Jun 18, 2019 8:08 PM
Message:

I would rent to them if they qualify otherwise. They may stay longer.

Myob, that was really funny! I really enjoy reading your post. Educational with humor! --73.120.xx.xxx




plan to rent only 1 year (by JKJ [MA]) Posted on: Jun 18, 2019 9:25 PM
Message:

Is it a protected class? If you are so intent on not signing them because they said they are only staying for 1 year, deny for that. Tell them you are looking for a longer term tenant than 1 year. But at the same time, a lot changes in 1 year. They might decide or need to stay longer, you may want them out by or before the year is up. Then there’s the argument that even if they were thinking of being a long term tenant of yours, after a year they may decide to move, you might evict etc, etc. If they qualified, screened well, and otherwise appear like they will be good tenants I’d sign them and not worry about them leaving a year from now. Bottom line, there’s to many variables in the LL/tenant relationship, we truly never know how long someone will stay, a great tenant that said they are staying for a few years can decide tomorrow they are taking the ELTF and bailing in a month, likewise the tenant that says they are only staying a year may stay longer. --174.192.xx.xx




plan to rent only 1 year (by Nellie [ME]) Posted on: Jun 18, 2019 10:01 PM
Message:

When we rent to students we expect it to be only a year. But we just had a three year move out. Probably about 50/50 whether they stay longer than a year.

But beware if they are actively looking to buy now. Unlikely they’ll be there a year. --70.16.xxx.xxx




plan to rent only 1 year (by S i d [MO]) Posted on: Jun 19, 2019 10:38 AM
Message:

David,

How are you advertising your rentals: year lease or some other period? To reduce issues lke this in the future, I recommend that if you only want people for more than 1 year, advertise that way. Otherwise they will assume you are okay with the "standard" rental period of 1 year.

You can make your minimum lease period whatever you and the tenant agree on. They are telling you UP FRONT they only want 12 months. If you want more than 12 months, there's nothing more to say. You don't need a reason to "deny" them: they are opting out of your pool of potential renters and they need to go find a land lord who is okay doing a standard year lease. --173.20.xxx.xxx




plan to rent only 1 year (by David [MI]) Posted on: Jun 19, 2019 10:58 AM
Message:

Sid, you are conflating "minimum lease period" with "time tenant ends up staying at house"

My leases are one year at a time. A tenant could stay five years, but each time the renewal would only for the next year.

I want a tenant to stay more than 12 months. I cannot bind them to that without a lease thats more than 12 months. But that's not what I'm talking about. I'm talking about if they tell me up front they are only planning to stay for a year because of buying a house, building a house, job contract, yadda yadda. --144.250.xx.xx




plan to rent only 1 year (by David [MI]) Posted on: Jun 19, 2019 10:59 AM
Message:

As for advertising "only want people for more than 1 year" that would just tip people off to not mention they will only be staying a year. --144.250.xx.xx




plan to rent only 1 year (by myob [GA]) Posted on: Jun 19, 2019 11:52 AM
Message:

David MI just had an irate tenant call-- "Why is my lease 14 months'? My lease has wording 12 month minimum? We do that so we can adjust vacancies and don't have 15 in one month-- we also don't want any due June- Nov or Dec our vacation and family time.

So after her yelling for 4 minutes I read the paragraph to her and said-- well you could always do the ELT para 29? She yells "I guess I should have read the lease better" ..... YA think! That's not my problem. She then proceeds to tell me how she's not paying me any more money. ALL this over air conditioning. She refuses to leave air on while at work. She doesn't know why it takes 5 hours to cool the house back down after 100 degree days.... The air just keeps running she says..... we'll yea-- if you would just twerk it some and leave it ON!!!!

Bottom line is Lease term is for my convenience not tenants. --99.103.xxx.xxx




plan to rent only 1 year (by David [MI]) Posted on: Jun 19, 2019 1:10 PM
Message:

myob, haha! I've had two tenants complain to me this year during their renewal process that their lease was SHORTER than a year (same adjustment of vacancies process) . One of them somehow felt i was shorting him by not binding him to an extra month. --144.250.xx.xx




plan to rent only 1 year (by myob [GA]) Posted on: Jun 19, 2019 1:46 PM
Message:

It's so much fun -- because it's so twisted David.... No matter what or how you say it------ we are the LL's they are the tenants. That was good-- you shorted them!!!! --99.103.xxx.xxx




plan to rent only 1 year (by CGB [MI]) Posted on: Jun 19, 2019 11:58 PM
Message:

Desired lease term is not a protected class. If they have been honest, then you should be honest and just tell them you are not interested if their plans include moving in a year. You could also charge them a little bit more for a shorter term tenancy. --67.149.xxx.xx




plan to rent only 1 year (by Cjo’h [CT]) Posted on: Jun 20, 2019 2:43 AM
Message:

David, all my leases are written for a one year term,but most people stay for an infefinite period,we’re usually sick of them.No we don’t tell them,as long as they keep paying...............Charlie................. --32.214.xxx.xx




plan to rent only 1 year (by RentsDue [MA]) Posted on: Jun 20, 2019 8:19 AM
Message:

Why can’t it just be part of your qualifying criteria? As long as you apply it to everyone it is not discriminatory. One of my prescreening questions is “ How long of a tenancy are you looking for?” I’m not wasting my time with someone looking for a cheaper version of an extended stay hotel. --71.10.xxx.xxx




plan to rent only 1 year (by Jim In O C [CA]) Posted on: Jun 20, 2019 9:31 AM
Message:

Look at their financial situation. Do you see the ability to buy in the future? 1 out of 20 will actually do it. If everything else is stellar rent to them. --99.23.xxx.x




plan to rent only 1 year (by Cjo’h [CT]) Posted on: Jun 20, 2019 5:19 PM
Message:

David, don’t be too picky and eat that cake before it gets too stale,Nothing worse than a cake that’s two days old............Charlie.....well,maybe ,two and a half days.....................???????,,,,,,,,,,,,,,,,,,........... --32.214.xxx.xx



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