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What is a month-to-month arrangement?

For month-to-month leases, there must be seven days of notice. For year-to-year leases or those with other definite terms, landlords must notify the tenant, or vice versa, within a month of the end of the lease. On leases lasting between one week and one month, notice must be given at least two days in advance.

How does a month-to-month payment work?

A month-to-month agreement is a 30-day contract. Each time you pay rent, you renew the contract for another 30 days.

Is a month-to-month lease good or bad?

Month-to-month lease terms may be ideal if youre looking for more flexibility on who you rent to throughout the year or planning on renting the property out for a short period. This can also be a great option if an active fixed-term lease ends, but the tenants need more time to find their next home.

What is another name for a month-to-month lease?

A month-to-month lease, often termed a periodic tenancy, is a flexible rental agreement between a tenant and landlord without a predetermined termination date. This lease type renews each month automatically until either party, landlord or tenant, issues a legally-recognized notice to conclude the agreement.

What is meant by month-to-month?

Month-to-month means a renewable term of one month. The term month-to-month is normally used in the context of tenancies and it refers to a tenancy in which the tenant pays monthly rent and there is no fixed-term lease .