What is Month-To-Month Rental Agreement?
It is a kind of leasing agreement that needs to be renewed after a time period of one month. This kind of agreement is often observed between the landlords and the tenants. It is advised to get up to date information about the state law related to a month-to-month rental agreement because in some states this kind of rental deed is forbidden. Like other rental agreements, it also includes a term for giving one-month prior notice not to go into the next renewal of the agreement.
How to write a Month-To-Month Rental Agreement
Whenever you decide to enter in a month to month rental agreement, first of all, consult your lawyer about the state laws for this kind of agreement. It is a legal document and all the legal requirements must be fulfilled to make it valid in court in the case of any legislation.
To write this agreement following points should be considered.
- The opening statement of the agreement must contain the type of agreement, names of the parties i.e. the landlord and the tenant. The statement must declare that the parties have agreed on the terms stated in the agreement.
- Premises of property that is being rented must clearly mention.
- Rental terms must be stated clearly that include the time period and other terms defined by the parties.
- The amount of rent and mode of payment should be well defined.
- Penalties in case of late payments, if any, must be stated in the agreement.
- The amount deposited as security must be mentioned and also, the method for the refund of security should also be mentioned.
- Add any other condition which the landlord or tenant want to add after mutual discussion.
- The agreement must be signed by both the parties along with a date.
Create your own Month-To-Month Rental Agreement Form by using the following template,
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