A month-to-month lease agreement is an agreement between a landlord and tenant which allows the tenant to occupy the rental property for a period of one month at a time. This type of lease agreement is preferred by many tenants as it provides them with more flexibility and allows them to move out of the property with ease. On the other hand, landlords prefer this type of lease agreement as it allows them to make changes to the rental agreement more easily.
If you’re a landlord or a tenant looking for a month-to-month lease agreement, it’s important to have a sample lease agreement to get started. Here are some key items that should be included in the sample lease agreement:
Identification of the Parties
The lease agreement should clearly identify the parties involved and their respective roles. This includes the landlord and the tenant, their names, addresses, and contact information.
Lease Term
As the name implies, a month-to-month lease agreement only lasts for one month. This means that the lease term should be clearly stated in the agreement, including the start and end date.
Rent Payment
The rent payment is a crucial part of any lease agreement and should be included in the sample lease agreement. This includes the amount of rent due each month, the date it’s due, how it should be paid, and any penalties for late payment.
Security Deposit
The security deposit is a sum of money paid by the tenant to the landlord to cover any damages caused to the property during the lease term. The sample lease agreement should include the amount of the security deposit, when it’s due, and the conditions for its return.
Maintenance and Repairs
The lease agreement should clearly state the responsibilities of the landlord and tenant when it comes to maintenance and repairs of the rental property. This includes who is responsible for any repairs, how they will be conducted, and how they will be paid for.
Termination of Lease
The termination of the lease agreement is an important part that should be covered in the sample lease agreement. This includes how the lease can be terminated by either party and the notice period required.
In conclusion, a sample lease agreement for a month-to-month lease should include the identification of the parties involved, the lease term, rent payment, security deposit, maintenance and repairs, and termination of the lease. Having a clear understanding of these items will help both the landlord and tenant to have a successful rental experience.