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Are Long-Term Residential Leases Common?

Instead of the typical 1-2 year leases on a rental home, do people also engage in 5-10 year leases where the renter might consider splitting costs of major renovations with the landlord as a joint investment...Similar to the commercial leasing model? If not, why does it not make financial sense for this to work in residential?

submitted by /u/MonstaWansta
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source https://www.reddit.com/r/RealEstate/comments/ijs7cr/are_longterm_residential_leases_common/
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