They are paying above market rental, even after renovating, I'll receive $50-$70 less a week than I do now. Because of that part of me is thinking I should extend the lease until mid-December, get the work done (if tradies are available then?) and then rent out in the peak rental month of January. The other part of my brain says get them out asap, get the work done, and get a stable family in.
You may be charging above market rent, but are the tenants actually paying it?
I thought you said they were behind in rent?
Do what is best for you.
Our motto is "tenants are only here for our convenience, and when they are not convenient, they are gone"