Reply: What does everyone think about natural lease end dates vs the last day of the month?

What does everyone think about natural lease end dates vs the last day of the month?

Reply: What does everyone think about natural lease end dates vs the last day of the month?

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[quote="anonymous post=24262 userid=0"]I’ve done both ways. I can 100% say it’s better operationally and financially for a property to NOT have all leases expiring on the last day of the month. That was something that off-site owners/financial guys people thought was a good idea many years ago. But in actual practice it hurts the property.[/quote]
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Lynne

I LOVE it. So much easier for our Maintenance team and our Leasing team. We can spread out our turns and our move-ins, rather than have this huge influx at the same time we're trying to close out one month's financials and start up a new month!

Posted 5 years 4 months ago

Johnnie Dang

We stagger our lease end dates to end on a Sunday. That way they can have the apartment ready by Friday. It creates less vacancy loss.

Posted 5 years 4 months ago

Judy Newton

I have worked both! I agree on the larger property it is a definite benefit! If you keep the renewal notices going out the same, like any expiring in August go out June or July 1st depending on your policy you are covered!

Posted 5 years 4 months ago

Crystal Park

We end our leases on Monday. It really works out and residents love it bc they all need the weekend to move out anyways. We are also closed Sunday’s so they turn in keys Monday we can do final walk with them and the property still gets rent for Monday.

Posted 5 years 4 months ago

Rachel Lynette Payton

We do lease to end of month but we don’t charge lease break fees if someone moves within a couple weeks of the lease end. Many give notice for a week or so AFTER the lease end too. It gives our tenants the flexibility to move when they actually need to without being jerks about fees or charging extra rent, and our maintenance doesn’t get all vacancies in one day.

Posted 5 years 4 months ago

JoAnn Basham

I like to do the natural date plus the days it takes to get to Sunday. Then we have Mon to Fri to get it turned. Having all leases end at the end of the month doesn't make sense for a good maintenance workflow or ease for planning for people moving in.

Posted 5 years 4 months ago

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What does everyone think about natural lease end dates vs the last day of the month?