Temp To Permanent Tenants
I have family looking at one of my units. They're building a house and need to rent for 6 months. If they rent now, they'll leave in mid January. Since that's a terrible time to look for new tenants, I've said no thanks. But then they told me that they have some friends that will need an apartment around the same time and they would like to come by to take a look at this unit.
What should I do?
I've thought about just saying no. Or saying yes if both families sign a lease now and both put down a security deposit. Or possibly doing some sort of single lease with a tenant change in the middle. I'll definitely check with my attorney on the legalities of all this, but I'd appreciate any practical advice on this situation. Thanks all.
Dear Alex,
Charge more rent. If they want a six month lease, they'll have to pay for the priviledge.
Cordially,
Alice
Assuming for a minute that both families meet your requirements, you COULD put the second family on a 12 month lease NOW and allow him permission to sub-let to the first family.
Doing it that way, you'd still have the lease ending in the summer months.
Or you could do it the other way around. Put the first family on a 12 month lease and allow them permission to sub-let to the second family. At the end of the 12 months, you can lease directly to the second family.