Should I consider offering a Short Term Lease Extension if my lease is coming up for renewal?

Renters may want to stay through uncertain times

In the coming months, we may see more requests for short term extensions (less than six months). People who have experienced upheaval in other areas of life may not have the ability to commit to another full year, but may also be interested in extending a few months while they explore their options. Many people are expressing a need for stability, and for most people, a few more months in their current location would provide some comfort.

Overall, we ask that you consider these requests for several reasons:

  1. Avoids any vacancy for a time, which is especially helpful during this rocky season.
  2. Allows you to begin showing when the market stabilizes and there may be more interest.
  3. Helps Top Properties spread our busiest season out to provide more consistent service throughout the year. Help us #FlattenTheCurve of Top Properties’ seasonality!
  4. The re-leasing fees are drastically less than leasing fees. By re-leasing for a short time, you can push your full leasing fee off a few more months.

Other Current FAQ’s

  1. What if my tenants can not pay rent?
  2. If my tenants can not pay rent, what happens if I cannot pay my mortgage?
  3. How will maintenance be performed during social distancing?
  4. Thinking of selling your home – current opinions and practices.
  5. If the lease on your home is up for renewal soon, should you consider offering a short term lease?