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.
3 responses to “How do you price rentals for short term”
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.