Scott Safadi on Lease Lengths

Traditionally, landlords have always tried to get 12 month leases. Typically, if a shorter lease length is offered, the monthly rent rate goes up. Scott Safadi believes that this does not always have to be the case. It is often in the landlords interest to create a shorter-term lease. For example, a landlord never wants a tenant to move out during the months of November and December because so few people move during those months that it is very hard to fill a vacancy.

That being said, if put in a position to sign a new lease commencing December 1, Scott Safadi would advise offering either a seven or eight month lease at the same rate as the 12 month lease option. Tenants will often take this option to increase their flexibility and provides the landlord with an option to offer that tenant a new 12 month lease the following summer or to raise the rent at that time if the rent that was achieved in December was below-market due to the seasonal slowness.