opinion on lease agreement

[crispino]

Need advice...what do u think is better..

1. to do a lease agreement month to month
2 or to do yearly

what are the advantages to me on either?
Also am I allowed to get a safety deposiT?

 

[RebeccaBryan]

Crispino,

More information is needed. Where is your property located?

 

[crispino]

QUOTE (RebeccaBryan @ Nov 12 2007, 02:47 PM) Crispino,

More information is needed. Where is your property located?

located im bradford

 

[DonCampbell]

If it is Ontario, a 1 year lease is fine as your rental increases (amount of increase decreed by the government) can only be applied once per year. The 1 year give you and your tenant a foundation from which to build your relationship. Make sure that your rent is at or slightly above market in today`s conditions in Bradford.

If they are not wanting to sign a 1 year lease, you may wish to dig a little deeper as everytime a tenant moves out, there are costs involved to your business.

Other Members may have differing strategies, this is the one that I like for consistency.