With the holiday season upon us, spirits are sure to be bright among Nevada City and Grass Valley renters and property owners. As a landlord, don’t let your spirit quickly change due to a winter vacancy in your Grass Valley or Nevada City rental property.
How do winter vacancies happen? Most often they occur when there is a month-to-month lease negotiated on a rental property. Month-to-month lease contracts can be created two ways:
- At the initial lease signing when the tenant moves in, or
- A lease can transfer into a month-to-month rental contract after the original lease expiration date if the landlord continues to accept rent monies without signing a new lease.
Example: The 1-year lease with your tenant expired in June and you accepted July’s rent without signing a new lease, you have created a month-to-month rental contract. The tenant could potentially give notice on October 1st and move out by November 30th (minimum 2 months notice for tenancy longer than 1 year).
What are the options to cure this potentially stressful situation? Renew leases when they expire and do not negotiate month-to-month rental contracts.
If you currently have a lease set to expire in the winter months, or if your investment rental property is currently vacant and you’re trying to place a tenant, then set the lease length for 6 or 18 months. That way, the end of the lease term will occur in the summer months.
Call Barrett Property Management for all your Grass Valley Property Management needs! We proudly services Grass Valley and surrounding areas including Nevada City, Auburn, and Colfax. Let us be your Grass Valley Property Manager!