Benefits of having a tenant on a fixed term lease
Downsides of having a tenant on a month-to-month (periodic) arrangement
Discuss your plans with your property manager
In summary, the ideal arrangement will depend on your circumstances, and should be discussed with your property manager. A periodic arrangement may be more suitable if you require flexibility to end the tenancy should you be considering selling or moving back into the property, for example.
However if you have no such plans and would like greater peace of mind and control over your investment, a fixed term lease offers greater stability and security.
Carnelian Property Management Newcastle NSW
We are a family-owned and run Newcastle real estate agent offering expert property management across Newcastle and Lake Macquarie.