Future Tenants

Category: Strategy

3 replies

Original post

We have only been landlords for a little over a year. We let the tenants sign a two-year lease. How far in advance of their lease being up should we start thinking about the process? Do we ask the current tenants if they want to resign first? What else goes along with this situation?

Any thoughts and ideas are welcome.

-Josh

Reply by Marc St.James

I usually start thinking about it a few months ahead. Gives you time to have the conversation with the tenant, figure out if they want to renew, and make a plan if they don't.

I’ve found it's better to start early rather than wait until the last minute. Even if they’re great tenants, you never know what their plans are.