Everything You Should Know if You’re Considering a Month-to-Month Rental Agreement
If you’re a tenant looking for convenience and flexibility, a month-to-month lease might be a good fit for you. This type of lease commits you to only a month at a time and allows you to cancel the lease at any point. There’s no loss of security deposit and no other penalties for canceling your lease as long as you give your landlord 30 days advance notice of your intent to move. A month-to-month lease can be attractive when you plan to live in an area for less than 12 months, buy a house in the near future, or if your future plans are uncertain. The downside is that rent is typically higher than a longer-term lease. Still considering a month-to-month lease agreement? Here’s what you need to know: What is a month-to-month lease? A month-to-month rental agreement is a lease you can terminate at any time with proper notice. Depending on your state, the required notice period could be as short as 30 days or as long as 90 days. Month-to-month leases typically renew automatically at th...