Rent out IP for short period only (4 mnths)

[TEG]

Hi,

My IP is currently empty as the tentants vacated this week.

I want to rent this IP for a short period (4 mnths only) as I want to move into this property myself in 4mnths.

Is short term lease like this common? Are there a lot of potential tenants out there that want to rent out for a few months only (due to they need temp accomodation due to building their own home,,etc)?

Do i still need to give the tenants notice, or is this a different type of arrangement, whereby they only sign the lease for 4 months, and then vacate?

appreciate your help!

Thanks

 

[DaveM]

You can do a fixed term lease and write into the lease that there will be no option to extend or renew the lease. At the end of the lease it terminates and there should be no notice period required (depends on state laws though). The tenants must then vacate on or before the expiration.

Some people will take these on, either to build a rental history or as you said, to live briefly during settlement or property changeovers. Just don't expect it to fly off the shelf, so to speak.

 

[TEG]

Thanks Dave.

 

[CoastalHolidayR]

It depends, which area is your property located in? You could get a perm tenant in for those 4 months or depending on your area you could holiday let the property.