Renters ???...

Do you have a lease with your tenant. We had decided to go with a lease and are going to sign it with the tenant tomorrow night. Now, however, we are wondering if this is a good idea or not. So we are not stuck into anything if we want to raise him.

Can you girls give me the pros and cons of both. He is a very good tenant, nice guy and I don't think we have anything to worry about. But still I don't know what to do.

Thank you, ladies.

Denise

I had a 'month to month' lease with my landlady. It was actually a 45 day lease. That meant that I, as well as her, had to give 45 days notice if the rent were going up, if I was leaving or if she wanted me out.

It really depends on what you want to do. If you sign a year lease, you can be stuck with a loser. On the other hand, you are sort of guarenteed a years worth of rent!

we do not have a lease with our tenant. I guess mostly b/c it would be proof that we had an illegal appt. She's a terrific tenant, also & we don't think its really necessary with her. Because she is hardly home & she doesn't cost us much $$$ ... we've never raised her rent.

Honestly, if he's a good tenant, I wouldn't worry about a lease. I would also consider not raising the rent very often b/c you could lose him as a tenant. Then your apt would could vacant for at least a month.

Good luck!