Not everybody wants a one-year lease

A yearlong lease is a pretty standard length of time for a rental property that is a tenant’s primary residence. But sometimes a tenant will ask to do a longer lease or a shorter lease. Landlords should consider the pros and cons to both when deciding whether to grant a special request for the least term. First and foremost, perform a thorough background check, credit report and rental history on the applicant as part of the tenant screening process. This will give you a clear indication of what type of lease will suit both of you best.

Two-year lease. If a tenant applicant requests a lease term that is longer than the standard one-year lease, and they have excellent credit, references and employment history, don’t be scared to sign them up for the long haul. Not all tenants wish to be nomads, moving every year to a different place. Sometimes really qualified, respectful renters just want the stability of knowing they can stay put for awhile in a home they love. If you find these folks, count your blessings.

Six-month lease. If a tenant wants a six-month lease and they pass the tenant screening process with flying colors, talk to them about the reasons behind the shorter lease. Will they be going on an extended trip? Will they be moving for their job, or getting married? Are they in the military and might be deployed or transferred to a different base? Get to the bottom of the half-year request, and if you feel comfortable with possibly having to find new tenants twice in one year, go for it.

Month-to-month lease. If you find a tenant who is interested in a month-to-month lease, beware — especially if they don’t have a good credit score or employment history. However, if you just want someone in the property for as long as you both can make the situation work, it might be worth it. The benefit is you can easily kick out the tenant at the end of the month if they aren’t paying rent. And if they do pay the rent on time, then you bought yourselves one more month of a mutually beneficial arrangement.

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