Requiring Non-Renewal Notice from Renters
You’ll be surprised at how requiring a 60-day notice from all tenants can impact vacancy rates. With this lead time, you will be able to plan for repairs to your rental property and pre-marketing to re-lease your rental. If you’ve ever heard a landlord say they’ve held a property for ten years and it’s not been vacant a day, it’s highly likely that either they kept the same renters the whole time, or they have a great notice period to help turn the rental asap.
Most renters know sixty days out whether they want to renew or not, so its not really a hardship, you’re just putting more thought into the expectation here. Send your renters a note at the 90 and/or 75 day mark and politely ask their intentions so you’re all on the same page.
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