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- Aug 30, 2015
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SignUp Now!I was under the impression that ALL fixed terms leases were going to end - with the exception of short term rentals that are your primary residence. That means that all fixed terms leases will be rolled into month to month and the tenant cannot be evicted at anytime, unless they breach the terms of the lease etc.
Doesn't make a lot of sense to me, because if that situation were true, then what would happen with the short term rental/summer vacation rental market? IE - investors who rent to students Sept - Apr and then rent nightly over the summer.
Has anyone been able to find a detailed description of what exactly this legislation will entail?
I do all of my leases as fixed term, so that I have a way out in case things go sideways with a problem tenant. Removing tenants once they are in is quite difficult and costly, so this is a way to protect my investment. I do NOT use this "loophole" to jack rents on my good tenants after their term is up.