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#221494 - 04/21/08 09:24 PM Lease Renewal
zpcsc Offline
Veteran Member

Registered: 08/29/05
Posts: 749
Loc: Florida
I am the landlord & realtor for my property. The lease will be up at the end of May and they want to renew on a month to month basis until they find a house to purchase. Due to my property taxes going up over $2k this year, I am really upside down. Should I increase the rent since their first year will be up. If I do increase it, I would like to increase it from $1900 to $2000. The houses comparable to mine are rented for $2050. I appreciate your input, I want to call their realtor once I am sure of what what I will be doing.

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#221496 - 04/21/08 09:32 PM Re: Lease Renewal [Re: zpcsc]
ScottFicek Offline
Member

Registered: 08/03/07
Posts: 72
Loc: Minneapolis, MN
Why not. Just explain it is the market rate. Plus it is the cost for month to month. Make sure they still will give you enough notice so you can get it re-leased (maybe 60 days).
_________________________
Scott Ficek
Realtor/Investor
RE/MAX Advantage Plus
cell: 612-281-5419
office: 952-898-5800
Saint Paul Houses
MN MLS

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#221615 - 04/22/08 09:51 AM Re: Lease Renewal [Re: ScottFicek]
zpcsc Offline
Veteran Member

Registered: 08/29/05
Posts: 749
Loc: Florida
Ok thanks, I will ask for $2000k.

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#223435 - 04/29/08 08:28 AM Re: Lease Renewal [Re: zpcsc]
zpcsc Offline
Veteran Member

Registered: 08/29/05
Posts: 749
Loc: Florida
My tenants are moving out, they just closed on a house. They want 48hr notice in order for me to show it. I think that is a long time. Should I tell them 24hrs? They have family staying from out of town.

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#223452 - 04/29/08 09:22 AM Re: Lease Renewal [Re: zpcsc]
ScottFicek Offline
Member

Registered: 08/03/07
Posts: 72
Loc: Minneapolis, MN
It all depends upon what your lease says. 24 hours is typical, though.
_________________________
Scott Ficek
Realtor/Investor
RE/MAX Advantage Plus
cell: 612-281-5419
office: 952-898-5800
Saint Paul Houses
MN MLS

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#223584 - 04/29/08 03:35 PM Re: Lease Renewal [Re: zpcsc]
Paul Oaks Offline
Major Contributor

Registered: 06/23/04
Posts: 3370
Loc: Central Illinois
If you used a standard lease the period is likely only 24hrs. It is not your problem that they have family staying with them.

I would tell them 24 hours. Their family problems should not become yours.

 Originally Posted By: zpcsc
My tenants are moving out, they just closed on a house. They want 48hr notice in order for me to show it. I think that is a long time. Should I tell them 24hrs? They have family staying from out of town.

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