Monthly leases offer great flexibility for both landlords and tenants, but there are a number of factors to consider on the dotted line before signing. Owners may want to balance the potential for increased revenue and other positive aspects with the possibility of a unit remaining empty for weeks or disrupting personal plans. Market conditions and individual preferences for income security may be the most important factors in choosing between monthly leases and long-term leases. In the case of real estate or housing, a rental agreement usually provides for a rental for a short period, usually 30 days. If the tenant or lessor does not make an extract declaration, the rental contract is automatically renewed. The terms of the agreement may also be changed monthly. Owners are faced with all kinds of decisions. An important decision that could affect their rental activity is the determination of the duration of the rental. Most standard leases are valid for 12 or 18 months, although six-month and two-year leases are also possible. A monthly lease gives flexibility to both the tenant and the landlord. In some cases, this flexibility may benefit both parties, but in others, it provides an advantage to one party over the other. In other cases, a landlord may decide to implement a monthly lease due to the high rental potential in a given neighbourhood, treat the property as a holiday apartment or house the student population in a university city. Maynard alludes to another benefit of monthly leases: flexibility.

By not being bound by a long-term lease, owners have more opportunities to do what they can do with the property and change the rental terms, usually by informing them properly. If you find a place you like, but need a monthly lease, be sure to explain to your landlord why. Explaining your situation can create trust between you and your landlord and give you the opportunity to prove that you are a good tenant. You may be can negotiate a monthly lease, if you`re honest. To terminate a monthly lease, the lessor must send a termination letter in accordance with the period indicated in the monthly lease agreement or in the laws of the state, whichever is longer. The amount of rent per month should be entered in the first two places made available. First spell the amount and then enter it digitally. In the next open line, enter the address to which the rent should be sent. In our example, the tenant`s rent in New York city costs US$2,500 per month and must be paid on the first of each month.