Advice for Landlords When Using Month to Month Lease Agreements
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As a landlord, you probably already know that you need good lease agreements to protect yourself and your property. If you're doing shorter leasing options, such as monthly, you definitely want to have a good contract. That's where a month to month lease agreement template can come in, as it can include all the legal language you need for that protection. Here's what to consider with this type of lease.
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With the right month to month lease agreement template, you can fill in the details so you and your renter are very clear on the rules, rights, and responsibilities. That helps to keep your property safe, and ensure that you can take legal action if necessary.
In this article, we'll address:
- Important Lease Agreement Clauses
- Best Practices for a Lease Agreement
- Tips for a Secure Agreement
- Key Considerations for Lease Agreements
- Related Sources to Learn More
Important Clauses in a Month to Month Lease Agreement
A month to month lease agreement template has to have specific clauses in it, to ensure that you've protected yourself and your property. Your renter will have rights, too, and you want to be sure to include those. That way, both parties to the agreement know what's expected of them and what they're getting. The main clauses include:
- The Property -- The specifics of the property should always be among the first things in any month to month lease agreement.
- The Term -- The lease term is month to month, but make sure to spell that out. You should also include how that affects any notice needed for moving out or being evicted.
- The Rent and Deposit -- Your renter needs to know how much to pay, when it's due, and what kind of deposit you expect, as well as how to get their deposit back when they move out.
- Late Payments -- If your renter pays their rent late, what kind of penalties do they have? Make sure you're clear on that, or those penalties won't be enforceable.
- Pets -- Whether or not they're allowed to have pets is something very important to many renters.
- Utilities and Maintenance -- Some landlords require their renters to pay utilities and maintain things like the lawn, while others don't. Be sure you're clear on those issues.
Having clauses like these in your month to month lease agreement helps ensure that the renter understands what's offered to them, and what they need to do to remain in compliance with the agreement so they can continue to live there.
Best Practices for a Monthly Lease Agreement
By picking a good month to month lease agreement template, you'll have the legal protection you need as a landlord. Your renter will also be protected, so you can have a good business relationship with them, and reduce any potential problems. Be sure to cover:
- The boilerplate language, because it's designed to provide good legal protection.
- The complete terms and conditions of the agreement, without changes from what's already been discussed.
- The completed agreement with everything filled in, so your renter feels secure in signing it.
When you take on a renter for one of your properties, a month to month lease agreement template can be one of the best ways to make sure you and that renter are on the same page.
How to Provide a Month to Month Lease Agreement Securely
It's important to be sure you've filled out everything in your month to month lease agreement template, so it's ready for your renter to sign. The safest and most secure way to get that signature is electronically. For that, you can use Nitro Sign for your lease agreements and other important documents. It's a safe and effective way to handle these kinds of agreements.
Key Considerations for a Lease Agreement
A month to month lease agreement is really important for any landlord who doesn't want to rent out their property with a long-term arrangement. When you create an agreement for your renter, you should definitely consider:
- Wording that keeps you legally protected for evictions and insurance coverage.
- Clear details of the specific agreement, such as the property, term, and move-in date.
- Information on expectations, penalties, pets, maintenance, and more.
With a month to month lease agreement template, you can rent your property out more easily, and have additional peace of mind doing it, as well.
Related Sources of Information
Ready to learn more about a month to month lease agreement template? Here are some resources to consider.