Create Month-To-Month Lease Agreement

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Month-to-Month Lease Agreement: What Is It?

A month-to-month lease agreement is used by landlords who rent out their property on a monthly basis. These types of agreements may be used for temporary housing or college apartments. They do not have a specific time period and either party can cancel it, usually with a month’s notice.

Like other rental contracts, this agreement should include responsibilities for both parties, the landlord and the tenant. The lease should include financial information, such as rent amount, what utilities the renter is responsible for, repair fees, and any other expenses. It should additionally outline policies regarding pets, number of occupants, parking, and more. Both parties will need to review and sign the lease before it is officially recognized. 

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Contents of a Month-to-Month Lease Agreement

contents of a month to month lease
 
Let's say you're looking to rent a place. What  sort of lease  do you plan to use? There are, arguably, a few pros to the standard twelve-month lease agreement. You have a secure source of income for a year (provided your tenant is responsible) and a small respite before you must deal with the hassle of renting out your space again. However, sticking to year-long leases narrows your scope of potential tenants. Think about it - there are plenty of people just passing through town or trying to figure themselves out. They need places to stay, but aren't sure they want to stay a full year. By creating a month-to-month lease template, you gain access to this enormous portion of the market. A month-to-month lease agreement frees tenants of some responsibility, sure, but it also gives you a lot more power.
 
A month-to-month lease form is similar to other leases, with a few variations. We have listed the main components below.
 
Information on Parties Involved 
 
This is generally the first section of the month-to-month lease agreement part should disclose the full legal names of the landlord and tenant, as well as the address of the apartment in question, the name and address of the apartment management company, and everybody's contact information.
 
Basic Terms of Lease
 
This section should specify the month-to-month basis of the lease, as well as name rent amount. It should also detail the grounds on which the  lease may be terminated , both by the landlord and the tenant. If lease renewal is an option, its terms should be also be explained in this section.
 
Deposits/Fees
 
Pretty self-explanatory - this section should name the security deposit, as well as the amounts of any other applicable deposits (such as a pet deposit). It should also detail any fees charged for late or returned payments.
 
Other Terms
 
The month-to-month lease agreement should include  subsections  on any of the following that apply: damage fees, utilities terms, landlord's right of entry, and any required renter's insurance.