If you want to rent an apartment but are not sure about the neighborhood and don’t want to commit to a long-term lease, your best choice is likely going to be a short-term lease – and there is no better rental lease than a month-to-month. Here is why.
Is A Month-to-Month Better Than A One Year Lease>
Depends. A lease for a fixed term (such as six months or a year) locks both parties in for that time. The landlord may not evict (unless the tenant misbehaves by failing to pay the rent, wrecking the place, etc.) or raise the rent, and the tenant is responsible for the rent for the entire period. This might be good for the landlord and not so good for the tenant in an area where rents are not rising anyway or in a “low season” when it is challenging to find tenants (such as a university or resort community).
A Monthly lease is more flexible
A month-to-month rental agreement gives both parties more flexibility. Either terminate the contract by giving written notice (usually at least 30 days) – unless a local rent control law allows eviction only for “good cause.” The landlord may raise the rent at any time simply by giving a similar notice. This flexibility is good for landlords in a rising rental market and suitable for tenants whose plans for the future are tenuous.
Whichever you choose – lease or month-to-month agreement – make sure you put it in writing to make each party’s rights and duties clear and minimize the likelihood of later disputes over what was actually agreed to.
Right To Terminate Lease
Whether or not a dispute arises, either the landlord or tenant may terminate the lease at will, as long as lawful notice is given. Most states mandate either 30, 60, or 90 days written notice. In most jurisdictions, notice will be determined by what is agreed to in the month-to-month lease agreement.
