As a landlord, you benefit most when you have a long-term rental agreement, but sometimes that does not benefit your tenant. A month-to-month rental contract can be beneficial to qualified tenants who need short-term living arrangements — maybe when they are between homes or transitioning from one life stage to another. This type of lease also can be used for tenants who have decided to start looking for a home to buy or for a larger rental property, but wish to remain in their current property until they find a new one.
If you can offer month-to-month rental, you can charge a higher rent because of the flexibility you offer your tenants. However, this type of deal requires the proper monthly rental lease agreement form to provide protection for you as you clearly outline what your renter can expect. American Apartment Owners Association offers a month-to-month lease agreement form that you can download to quickly create a residential lease contract for these specific situations.
What the Monthly Lease Agreement Template Offers
A monthly rental agreement form is not much different than a 12-month residential tenancy agreement form, but it will outline the specific terms of the shorter lease. This form’s template allows you to address:
- • The lease duration dates
- • Automatic renewal
- • Schedule of rent payment and late payment penalties
- • Rent cost
- • Tenant and landlord names
- • Security deposit information
- • Pet policies
- • Tenant privileges
- • Property damage clause
With the residential lease agreement template, you also can include information about how the tenants are to go about terminating the lease when they are ready to move on. A 30-day notice is typical, with early termination fees applying if a tenant does not provide proper notice. All items within the residential rental agreement template can be customized to your unique situation, but this template gives you an excellent starting place for your month-to-month lease agreement.
Do you have a property that would lend itself well to a month-to-month rental agreement? Check out a sample month-to-month rental agreement template or download the month-to-month lease agreement template available from the American Apartment Owners Association to see how to set up one of these agreements with the best protection for you and the best flexibility for your tenants.
Trust the American Apartment Owners Association for easy-to-use monthly rental agreement forms. Our forms were created with ease of use and accuracy in mind.