Joe DownsCEO & Co-Founder, Belrose Storage Group. Founder, Storage Moguls.

Multi‑year leases lock in your best tenants for 24-36 months

29 May 2026 · 1 min

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Joe Downs explains why landlords should offer 2- or 3-year leases at a 3-5% discount to lock in good tenants. You get occupancy certainty for 24-36 months. They get predictable rent and stay put.

All right. Recent retention strategy 4 here, the multi-year lease option. Not every tenant will take it, but the ones who do represent maybe your most valuable long-term occupancy tenants. So here's the offer, a 2 or 3-year lease at a slight discount relative to your annual rate. The tenant gets price certainty. You get occupancy certainty for 24 or 36 months with a tenant who's self-selected for commitment. The discount doesn't need to be large either. 3 to 5% is enough to make the offer feel meaningful without giving away significant revenue.