Month-to-Month Tenancy: Pros and Cons of Short-Term Renting
How It Works
Pros and Cons
Types
FAQs
Month-to-Month Tenancy: Pros and Cons of Short-Term Renting
1. Renters Insurance vs. Homeowners Insurance
2. Renters Insurance
3. Guide to Renter's Insurance
gilaxia / Getty Images
A month-to-month tenancy is when a tenant rents from a landlord for one month at a time.
What Is a Month-to-Month Tenancy?
A month-to-month tenancy is when the renter is granted possession of the property with no definite expiration date and pays the owner on a monthly basis. This tenancy is most commonly found in residential leases. In situations where there is no written agreement, tenancy is considered to be on a month-to-month basis.
Key Takeaways
- A month-to-month tenancy is when the tenant rents from the owner on a monthly basis.
- This type of tenancy offers more flexibility but less security than a year-long lease.
- Other variations of tenancies found in lease contracts include tenancy for years, tenancy at will, and tenancy at sufferance.
How a Month-to-Month Tenancy Works
Tenancy falls under the real estate laws that cover leases. In legal real estate terminology, a lease is a contract between the owner of a property, also known as the landlord, and a tenant, who rents the property. The lease transfers the owner’s rights to the exclusive possession and use of the property to the tenant for an agreed-upon period.
As anyone who has rented an apartment knows, the lease sets forth the period of time for which the contract is to run and the amount of rent the tenant is contracted to pay. The renter gains access to the property and uses it in whatever manner was agreed upon in the lease. The landlord receives rent for a specified period of time, and after the lease period is up their ownership rights are returned.
How It Works
Pros and Cons
Types
FAQs
Month-to-Month Tenancy: Pros and Cons of Short-Term Renting
1. Renters Insurance vs. Homeowners Insurance
2. Renters Insurance
3. Guide to Renter's Insurance
gilaxia / Getty Images
A month-to-month tenancy is when a tenant rents from a landlord for one month at a time.
What Is a Month-to-Month Tenancy?
A month-to-month tenancy is when the renter is granted possession of the property with no definite expiration date and pays the owner on a monthly basis. This tenancy is most commonly found in residential leases. In situations where there is no written agreement, tenancy is considered to be on a month-to-month basis.
Key Takeaways
- A month-to-month tenancy is when the tenant rents from the owner on a monthly basis.
- This type of tenancy offers more flexibility but less security than a year-long lease.
- Other variations of tenancies found in lease contracts include tenancy for years, tenancy at will, and tenancy at sufferance.
How a Month-to-Month Tenancy Works
Tenancy falls under the real estate laws that cover leases. In legal real estate terminology, a lease is a contract between the owner of a property, also known as the landlord, and a tenant, who rents the property. The lease transfers the owner’s rights to the exclusive possession and use of the property to the tenant for an agreed-upon period.
As anyone who has rented an apartment knows, the lease sets forth the period of time for which the contract is to run and the amount of rent the tenant is contracted to pay. The renter gains access to the property and uses it in whatever manner was agreed upon in the lease. The landlord receives rent for a specified period of time, and after the lease period is up their ownership rights are returned.