A Residential Month to Month Lease Agreement is a legally-binding written agreement between a landlord and a tenant for a residential property. A Residential Month-to-Month Lease Agreement lasts for one month at a time and typically has an automatic renewal unless the tenant or landlord provides a notice of non renewal, typically at least 30 to 60 days in advance.
This kind of lease may be altered or terminated by either party after giving notice. A Month to Month lease is more flexible than a Long Term Lease because if the tenant decides to live elsewhere, they do not have to pay a penalty or lose a deposit. This type of lease may be preferred by someone who does not want to commit to a specific residential property long-term. However, the rent can be raised, the rental terms changed, or the tenant can be evicted for any reason, with a similar minimum advanced notice. A landlord may prefer this type of lease if they are in an area where the rents continue to rise and available tenants are plentiful. By having shorter lease agreements on residential properties, the landlord can keep rental rates comparable to those of others in the area.
Free State Specific Month to Month Lease Agreements