As an investor, I personally prefer the longest lease possible. I have had some tenants for over three years, and it reduces my stress knowing that they are satisfied with the property and intend to make it their home long term. When one tenant moves out and another one moves in, it's simply expensive and time-consuming. There are carpets to clean, walls to paint, touch-ups to be made, and then there is the advertising time and energy. Almost always there is at least a month's lapse, and that's money missing in your bank account.