There are good attributes to both a long-term lease and a month-to-month lease agreement. Some commercial leases go for 10 or more years. The real question to ask yourself is, “What are my long-term and short-term goals for this property?”
If you know you want passive income with little turnover, a long term lease might work best for you. If you’re holding on to real estate just long enough to flip it, a month-to-month lease might be better for you.

However, if you’re somewhere in between, you may be encouraged to find out that both situations have upsides.