If you`re a landlord, property manager, or tenant, you know how important it is to have a solid rental agreement in place. A well-written and legally sound rental agreement protects both parties and helps prevent disputes down the road.
One type of rental agreement that is becoming increasingly popular is the fillable month-to-month rental agreement. This type of agreement offers flexibility for both the landlord and tenant by allowing them to renew or terminate the lease each month.
Here are a few things to consider when creating a fillable month-to-month rental agreement:
1. Include all necessary information. Your rental agreement should include the names of all tenants, the property address, the monthly rent amount, the due date for rent, and any late fees or penalties. It should also outline the responsibilities of both the tenant and landlord, such as who is responsible for maintaining the property and paying for repairs.
2. Be clear about the termination process. With a fillable month-to-month rental agreement, either party can choose to terminate the lease at the end of any given month. Make sure your agreement outlines the termination process and any notice requirements. For example, you may require a 30-day notice from the tenant if they plan to move out.
3. Address rent increases. Your rental agreement should outline your policy for rent increases. If you plan to increase rent, make sure you provide the tenant with proper notice and explain the reasoning behind the increase.
4. Consider including an automatic renewal clause. If both parties are satisfied with the rental arrangement, you may want to consider including an automatic renewal clause. This means that the lease will automatically renew each month unless one party gives proper notice to terminate.
Using a fillable month-to-month rental agreement can be a great option for landlords and tenants who want flexibility in their rental arrangement. Make sure you include all necessary information and clearly outline the termination process, rent increases, and any automatic renewal clauses. With a well-written and legally sound rental agreement, you can protect yourself and your rental property.