Rental question

[the_bob_delusion]

My tennant wants to go month by month instead of signing a lease renewal. What do you think?

[boris1gary]

Have you let them know their squatters rights?

[*mrgrizz*]

translation........i have a rental property

[lloydslights]

I would query the bond situation.

DEB

[cherry*135]

In NSW, owner can offer a tenant a new lease when the current one expires (usually for  6mths or 12mths). Rent due weekly.

It is up to the tenant, whether they want to sign a new lease or not. If not, they carry on, on a periodic lease (they must give 21 days notice if they want to end the tenancy).

No issue with bond. They are just no longer on a fixed lease, instead a periodic lease.

[the_bob_delusion]

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@*mrgrizz* wrote:

translation........i have a rental property

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Do I really strike you as someone that likes a brag???

[fiestas*girl]

i signed a 12 month lease amd moved out 5 and half years later

[the_bob_delusion]

is there any benefit for the owner vs tennant?

[kopenhagen5]

The way I see it is either the tennants are planning on leaving soon or they simply prefer the non commitment.

Either way, if they are good tennants, won't make much difference anyway.

If the tennants are a little shakey, then not having a long term lease could promote the opportunity to leave the place in disarray with not paying rent for 1 or 2 months before you have the opprotunity to evict.

[cherry*135]

Benefit for owner of a fixed lease is they can count receiving rental income for 6 mths/12 ths (length of lease) without interruption.

Benefit for a tenant, esp for 12 mth lease is owner can't increase the rent in that time. For a 6-12mth lease I guess the tenant has security knowing they won't have to move.