In today’s episode, Dan talks about the benefits of month-to-month leases (and the downsides) for your rental properties!
Depending on your real estate investing strategy, month-to-month leases provide a lot of benefits. Especially if, like Dan, you’re house hacking!
However, with the good comes uncertainty. While M2M leases provide peace of mind if you don’t want to renew someone’s lease, it can also make it trickier to find a long-term tenant! That’s why it’s important to research the best length for your leases.
Benefits of Month-to-Month Leases
- Flexible end date of your lease
- Can raise the rent quickly with 30-day notices
- Easier to evict
CONS of Month-to-Month Leases
- More uncertain because landlords & tenants can cancel at anytime
- Less time to find a new tenant
- Unpredictable income
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