Month-to-month lease agreements provide both the landlord and the tenant with flexibility, but as with anything they also have some down sides
Pros for Tenants:
- Flexibility to move - one of the most common reasons for a tenant to sign a month to month or opt to go month to month is so they have the ability to move quickly.
- No specific end date - unlike a long term lease agreement, month to month leases allow you to give a normal (typically 30-60 day) notice and you aren’t burdened by lease break penalties
- You can (usually) switch to a long term lease -a lot of owners give the option to sign a longer term lease if plans change
- Can look for a home - this is often an ideal o...
Although Landlords can’t control how tenants live, they do have the right to expect the proper use of their properties.
Tenants are to maintain the premises in a clean and sanitary manner, including all equipment, appliances, furniture and furnishings therein. Some tenant responsibilities for care and maintenance of the premises, at their expense, include but are not limited to:
Waste Disposal
Replacing AC filters
Replacing burnt out lights
Pest Control
Landscaping
Mold Prevention
Proper Appliance Use
Smoke detector maintenance
Changing out batteries in anything appurtenant to the premises (i.e. thermostat, garage door opener, smoke detector, etc).
Finding new tenants is expensive and time-consuming. The cost of advertising, showing the property, screening potential tenants and more eats into landlords’ profits, especially as the property sits vacant.
So what are the benefits of offering incentives to tenants to renew and/or sign leases?
Keeping good tenants is always the way to go, which is where incentives can come in handy. According to a survey conducted by SofwareAdvice.com, half of males and 41 percent of females aged 26 to 35 say they would be more likely to stay at a rental property if offered an incentive when the lease is nearly up and 52% of renters prefer cash or other types of spendable rewards.
WHILE YOU MAY NOT BE GAINING EQUITY IN A HOME, YOU ARE PAYING FOR SOMEWHERE TO CALL HOME, WHICH IS NOT THE EQUIVALENT OF THROWING MONEY IN THE TRASH
2. YOU HAVE NO NEGOTIATING POWER
RENT PRICES AND LENGTHS OF LEASES ARE OFTEN NEGOTIABLE. DON’T BE AFRAID TO ASK THE PROPERTY MANAGER OR LEASING AGENT TO SEE WHAT THE OWNER WOULD CONSIDER.
3. IT'S DIFFICULT TO GET OUT OF A LEASE
ALTHOUGH YOU ARE RESPONSIBLE FOR THE LEASE, DEPENDING ON THE LEASE TERMS, LEASE BREAK POLICIES CAN DIFFER. RESEARCH YOUR LEASE OR AS THE LANDLORD/PROPERTY MANAGER FOR MORE INFORMATION
4. THE LANDLORD IS RESPONSIBLE FOR ALL REPAIRS AND REPLACEMENTS
Here are some common things that are a tenant’s responsibility when it comes to maintenance. A good rule of thumb is if anything was caused by misuse or neglect, it is the tenant’s responsibility to take care of.
Carpet Stains or floor damage beyond normal wear and tear
i.e. Spills, pet accidents, bleach, nail polish, etc.
Plumbing Clogs
Plunging/clearing clogged toilets, drains and garbage disposal
Common causes: hair, trash in disposal, floss, QTips, wet wipes (are not flushable)
Replacing light bulbs
To include regular and fluorescent, light fixtures, ceiling fans, refrigerator, pool, etc.