Our first tenants have been great but their 1 year lease end in 60 days.
We offered them a 1yr renewal at the same price… they are asking about month to month or 6 month options.
How do you guys price your rentals for short term? Not sure if we are comfortable going this route or not, but looking for advice before we decide.
We offer two options at the end of the lease. Stay month-to-month or sign for another year. We add 20% extra for month-to-month.We need to be compensated if we have to lease the property during a slow time.
https://www.rentce.com/lease-renewal-letter/
We do annual leases only. I would be willing to negotiate for termination any time between June and August, but the other months are a hard sell in my market.
I give three choices. If they sign another year, I typically keep it the same. For 6 months it’s normally 10 percent higher. Month to month, it goes much higher.