Favorable Lease Terms for Landlords
As a landlord, there are many ways to help not only minimize your expenses but also have a positive investment experience. One of the ways we help our clients achieve both is by negotiating favorable lease terms. Here’s how!
- Lease Expiration – If you are renting a property in November, December, January or even February (usually slow rental season), it’s a good idea to eliminate a future vacancy in the winter by doing a longer lease term putting the expiration in the spring and early summer months. This makes it easier to re-rent and get top dollar during a better time of year.
- Early Termination Provision – We all know that life happens. Often times having an “out” in the lease ensures that you get some sort of compensation instead of having a tenant skip out on the rent.
- Maximum of a 2-year lease term – We want to ensure that our clients are able to get top-dollar, market rents especially when market rates increase. We typically recommend doing a maximum of a 2-year lease term this is to ensure that if the market goes up, then you’ll be able to increase the rent accordingly.
These are just a few of the ways we help our investors. If you’d like to strategize with you and your portfolio, feel free to contact us.