Tip #230: Getting Over You is Easy
One problem that can occur after a bad tenant skips out or is evicted is that the property becomes vacant at an odd time of year. It can cost more to find the next tenant. Then, if you offer the standard one year lease, you face the same problem next year.
If that happens to you, consider changing the dynamic.
Offer the next tenant a shorter-term lease, which could go at a higher rent. Or, tack on a couple of months to your standard one-year lease, with a rent lock as an incentive. The next time around, you’ll be back on track without any more money out of pocket.
See last week’s Landlord Quick Tip.
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