If you own a duplex in a city where it snows, early September is a time you should be thinking about your leases.
As in, are all of your tenants under one?
After all, if your tenants are on a month-to-month lease, they can pick up and move in January. Maybe that’s not a bad thing, but I’ve found it pretty tough to find new tenants any time after Halloween.
Remember, a lease is an agreement between multiple parties. There is no rule that it has to be 6 months or one year in length. It can be as long or as short as the parties involved agree to.
Don’t be afraid to sign a tenant to a 7 month lease to insure you don’t incur a vacancy until spring.
After all, they might be happy to be assured they won’t be facing a rent hike or have to move over the winter too.