 Multi Year Lease (by Dwaine [MD]) Apr 14, 2021 6:37 PM
 Multi Year Lease (by razorback_tim [AR]) Apr 14, 2021 6:53 PM
Multi Year Lease (by Robert J [CA]) Apr 15, 2021 12:33 AM
Multi Year Lease (by WMH [NC]) Apr 15, 2021 8:50 AM
Multi Year Lease (by NE [PA]) Apr 15, 2021 8:54 AM
Multi Year Lease (by Ken [NY]) Apr 15, 2021 10:00 AM
Multi Year Lease (by Oregon Woodsmoke [ID]) Apr 15, 2021 10:47 AM
Multi Year Lease (by NE [PA]) Apr 15, 2021 10:59 AM
Multi Year Lease (by Vee [OH]) Apr 15, 2021 11:13 AM
Multi Year Lease (by Nellie [ME]) Apr 15, 2021 8:17 PM
Multi Year Lease (by Ray-N-Pa [PA]) Apr 15, 2021 9:15 PM
Multi Year Lease (by Dwaine [MD]) Posted on: Apr 14, 2021 6:37 PM
Message:
Hello fellow landlords out there! My question is, how do you handle rent increases when doing a multi year lease?
I have a resident that is renewing with me & I proposed a 2 year lease to them, which they are considering and will get back to me on. While I have a secured rental property lease for two years, I'm thinking that locks the rent price for two years also. Is this the case or do I need to include a clause in the lease saying otherwise? Thanks for It ALL!
--71.200.xx.xx |
Multi Year Lease (by razorback_tim [AR]) Posted on: Apr 14, 2021 6:53 PM
Message:
$X for the first year
$X + 3% for the second year
That's how I've done them in the past. --70.178.x.xx |
Multi Year Lease (by Robert J [CA]) Posted on: Apr 15, 2021 12:33 AM
Message:
The cost of a turn over, fixing and re-renting a property costs a lot! So locking someone in a 2 year lease has benefits for both the tenant and owner. Usually in a simple rental I give the same rent for both years. But in a commercial property, I include a fixed rental increase after each year of occupancy. --47.155.xx.xxx |
Multi Year Lease (by WMH [NC]) Posted on: Apr 15, 2021 8:50 AM
Message:
What good is a two-year lease to the tenant if it does not prevent a rent raise? --50.82.xxx.xxx |
Multi Year Lease (by NE [PA]) Posted on: Apr 15, 2021 8:54 AM
Message:
I'm not sure I'd go anywhere near a multi year lease now given the current situation. Many long lease landlords on here are switching to MTM for the time being. --174.249.xx.xx |
Multi Year Lease (by Ken [NY]) Posted on: Apr 15, 2021 10:00 AM
Message:
WMH,it locks in there ability to stay there for 2 years,which would be important right now with limited rentals available.I have switched to month to month entirely from yearly rentals --72.231.xxx.xxx |
Multi Year Lease (by Oregon Woodsmoke [ID]) Posted on: Apr 15, 2021 10:47 AM
Message:
Keep in mind that with the eviction moratorium, that the only way to get a non-paying tenant out is to not renew the lease.
Two years would be a long time to be without rent.
There doesn't seem to be any reason to keep the moratorium. what with everyone being vaccinated and all, but they keep extending it. The people who are in charge are really liking the moratorium and the votes it buys them. They might be reluctant to give it up because their voters are likely to turn on them when they do.
How much trouble is it to get a non-paying tenant out in MD? --76.178.xxx.xxx |
Multi Year Lease (by NE [PA]) Posted on: Apr 15, 2021 10:59 AM
Message:
Oregon, let's not fool ourselves. There was no REASON to have it at all. --174.249.xx.xx |
Multi Year Lease (by Vee [OH]) Posted on: Apr 15, 2021 11:13 AM
Message:
Examine your local and state tenant rules, OH does not recognize a lease beyond 12 months. --76.188.xxx.xxx |
Multi Year Lease (by Nellie [ME]) Posted on: Apr 15, 2021 8:17 PM
Message:
I truly see no need to lock myself into a multi year lease that restricts rent increases. Rents are going up so much right now that I want to have the flexibility to increase as much as possible. And a two year lease does not keep a tenant in the apartment if he wants to leave. --70.20.xx.xx |
Multi Year Lease (by Ray-N-Pa [PA]) Posted on: Apr 15, 2021 9:15 PM
Message:
As Tim said = they best time to set the year two increase is at the first lease signing.
I sell the idea by telling my resident= after you fall madly in love with my place I want to make sure you understand I will not spike the rent up to get rid of you. The cost of taxes, insurance and some utilities seems to always go up so you can sleep well knowing that rent is going up only by $XX in year two.
The resident wants the keys and will agree to the increase - and be happy that you are laying down your cards in advance. --24.154.xx.x |
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