MONTH-TO-MONTH
Pros
Landlords- if you rented your home at a low rate and you find out this later, in the one to one month lease you can increase the rent without having to wait 12 months.
Tenant- if you are looking for a premise for a short period of time, this is a great option. All of the traditional benefits that apply to a fixed term lease apply to a month-to-month lease, you may end the lease whenever you please.
Cons
Landlords- if you rented your property on a month-to-month this may imply that the tenant will not last 12 months and a short lease agreement may result problematic, as new tenants may not take good care of the premises because they won't be there for the long term. A premise without a lease equals loss of rental income.
Tenants- renting at month-to-month also means that the landlord may decide not to renew the lease before you expected or even increase the monthly rent.
ANNUAL
Pros
Landlords- you have a constant and continued income during a year, besides this, you do not have the expenses you normally have between each tenant
Tenants- you´ll live in the same property for a year, without moving expenses that are normally made when you move from one property to another, and during that year the rent payment stays the same, the rent can ́t be increased.
Cons
Landlords- if you discover that the market price has risen, you can not increase the rent until after the lease has terminated, besides this if you have a ̈toxic ̈ tenant you have to wait until the lease ends.
Tenants- you may find yourself not loving the property of having an uncomfortable relationship with your landlord for a period of 12 months.
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Bonnie is the visionary that has driven the company and culture of Avalon since 1993. Her passion is improving procedures and practices; incorporating technology and value added services for both our clients and tenants.