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The document is a South Dakota Residential Lease Agreement for a month-to-month rental arrangement between a landlord and tenant. It outlines the terms of the lease, including the grant of lease, nature of occupancy, security deposit requirements, rent payment details, tenant and landlord obligations, consequences of breach, notice requirements, and provisions regarding utilities and repairs. Additionally, it includes clauses on lead-based paint disclosure for properties built before 1978 and other legal stipulations relevant to residential leasing in South Dakota.

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What are the cons of a month-to-month lease?

The Cons of a Month-to-Month Lease Uncertain End Date. A flexible end date can be desirable for some situations, but typically as a landlord, this flexibility can lead to uncertainty and might lend itself to a short-term tenancy. Short Notice to Find New Tenants. Less Stable Rent Income.

Which type of tenancy is most like a month-to-month lease?

An estate from period to period (or periodic tenancy) is one which continues for periods of time (typically year-to-year, month-to-month, or week-to-week) as designated by landlord and tenant in their agreement. The most common periodic tenancy is the month-to-month tenancy.

Why do landlords prefer month to month leases?

This type of lease also allows landlords to quickly address problematic tenants or make changes to the property without being tied to a long-term commitment. Overall, month-to-month leases empower landlords to adapt to changing circumstances and maintain more control over their rental properties.

Can I make my own lease agreement?

Can you write your own tenancy agreement? Certainly. Unless youre an attorney, or have an attorney review it, you probably shouldnt, But you certainly can. If you fail to follow your state/local laws to-the-letter, the agreement may be invalid.

Is it better to renew a lease or go month to month?

Ive been a renter and a landlord and Ive read the California Tenants Guide cover to cover. Month to month is usually better for the renter and all leases default to it at the end of 1 year at original terms. Neither a new lease or month to month can exceed the allowed rent increase if rent control is applicable.

What are the negatives of a month to month lease?

Bottom Line. While month-to-month leases offer landlords flexibility and the ability to adjust rent more frequently, they also come with risks like higher tenant turnover and less income stability.

Do you need a lease agreement for month-to-month?

Often, the landlord and renter agree to the terms of the lease orally, but a month-to-month lease agreement is preferable. A written lease is a legal document, and it offers more protection to all parties to the lease. In a dispute, the written lease should help resolve the dispute.

Is month to month lease expensive?

Month-to-month lease agreements can be more expensive rent-wise because they are more temporary and can end at any time. Landlords will often charge a higher rate as they are taking on more risk to have a shorter-term tenant.

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