 best yearly lease or mont (by joan [WI]) Feb 20, 2021 5:38 PM
 best yearly lease or mont (by plenty [MO]) Feb 20, 2021 7:43 PM
best yearly lease or mont (by Hoosier [IN]) Feb 20, 2021 8:13 PM
best yearly lease or mont (by Dee Ann [WI]) Feb 20, 2021 8:18 PM
best yearly lease or mont (by Jim [WI]) Feb 20, 2021 9:15 PM
best yearly lease or mont (by BRAD 20,000 [IN]) Feb 20, 2021 11:36 PM
best yearly lease or mont (by DJ [VA]) Feb 21, 2021 9:08 AM
best yearly lease or mont (by Robert J [CA]) Feb 21, 2021 12:08 PM
best yearly lease or mont (by Rick [IN]) Feb 22, 2021 8:04 AM
best yearly lease or mont (by Vee [OH]) Feb 22, 2021 1:10 PM
best yearly lease or mont (by joan [WI]) Posted on: Feb 20, 2021 5:38 PM
Message:
Which is best a yearly lease with month to month after year is up or a new yearly lease every year? How much can you increase rent in a year in WI? --208.157.xxx.xx |
best yearly lease or mont (by plenty [MO]) Posted on: Feb 20, 2021 7:43 PM
Message:
For me, in my state. I like a years lease that goes month to month. Hopefully someone from your state will come along with more information. --172.58.xx.xxx |
best yearly lease or mont (by Hoosier [IN]) Posted on: Feb 20, 2021 8:13 PM
Message:
Opinions vary. I use annual lease initially, then I may offer 1 year extension depending on quality of tenant...otherwise mtm or evict. --99.92.xxx.xxx |
best yearly lease or mont (by Dee Ann [WI]) Posted on: Feb 20, 2021 8:18 PM
Message:
what works best for us is a year to year, renewable annual lease. It helps us have a life with some amount of certainty.
We do get people who break a lease and have an ELT fee (early lease termination). I think our lease may deter those who move frequently to apply. --75.11.xx.xx |
best yearly lease or mont (by Jim [WI]) Posted on: Feb 20, 2021 9:15 PM
Message:
I also have yearly leases and an early termination fee for those who wanna "buy out" their lease and leave early. This works for me and ive not had issues. My increases are minimal at renewal time.
I have friends who are also LLs who have M2M and love it as well. When ever they feel the need to increase the rent, given a 30day notice to do so, usually increase by 65 to 75 a month. Thats a big leap in costs to someone, i think...
So, its all up to your own comfort level.. --47.12.xx.xxx |
best yearly lease or mont (by BRAD 20,000 [IN]) Posted on: Feb 20, 2021 11:36 PM
Message:
Joan,
Turnover is a LL’s enemy. They eat up time and money. Average turnover is $3100. I want to stay in control of my business, not give up that control.
We have lots of people who stay to the end of their lease to honor their commitment so we get an extra several months from each one - reducing turnover which reduces time and expense.
My lease is clear: automatically renews with a 2.9% Cost of Living increase.
We make a TON of money from ELT fees because they are on a renewed yearly lease but want to leave for job changes, divorce, buy a house...
BUT...
With the current presidential edict to block evictions for non-payment until July I am using MTM leases until this blows over.
We have been successfully evicting non-payers because the lease has expired.
ALSO...
WI has some unusual LL/Tenant laws so get local input.
Stay in control.
BRAD
--73.102.xxx.xxx |
best yearly lease or mont (by DJ [VA]) Posted on: Feb 21, 2021 9:08 AM
Message:
Month-to-month from the beginning, with incentives for long stay and good behavior.
Such as: No rent increase guaranteed for a year of on-time payments, a "reward" (property improvement/customization) after a certain time of no lease breaches.
--68.229.xxx.xxx |
best yearly lease or mont (by Robert J [CA]) Posted on: Feb 21, 2021 12:08 PM
Message:
The rules for leases vary per City, County and State. There for I simple require the first lease to be for 1 year and then it converts to a month-to-month tenancy with the allowable rent increase. But if my tenant doesn't want a increase, then I will renew the lease for 1 more year. --47.155.xx.xxx |
best yearly lease or mont (by Rick [IN]) Posted on: Feb 22, 2021 8:04 AM
Message:
I personally prefer month-to-month, but in reality your lease is as good as the local courts. I'm fortunate that I have a good one. --50.229.xx.xxx |
best yearly lease or mont (by Vee [OH]) Posted on: Feb 22, 2021 1:10 PM
Message:
When you understand your state and local tenant laws they are both the best, the oral ones stink for housing providers, great for tenants. --76.188.xxx.xxx |
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