Lease Agreement Month to Month

Member since 2023 · 13 posts · 3 votes

Looking for suggestions on lease agreements for month to month. Does anyone have any templates or sites they use for their lease agreements. I have used the bigger pockets residential lease for long term tenants but doesn’t seem to be for month to month any and all suggestions would help!

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Tim Baldwin

Attorney · Pensacola, FL · Member since 2023 · 178 posts · 106 votes

If you want to be a career landlord, find a landlord attorney who specializes in property management operations. Have him or her prepare your lease. Don't skimp on this. It's too important to your operations.

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Tim Baldwin
Attorney · Pensacola, FL · Member since 2023 · 178 posts · 106 votes
2y
If you want to be a career landlord, find a landlord attorney who specializes in property management operations. Have him or her prepare your lease. Don't skimp on this. It's too important to your operations.
2 Reply
Michael SmytheBusiness Member
Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
2y
What @Tim Baldwin said.
Otherwise, spend some time figuring out how to edit your existing lease to make it MTM.
FYI - our company lease is setup to be ANY lease length by just modifying the lease term.
Logical Property Management4.9455 Reviews
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Jerell Edmonds
Investor · Warwick, RI · Member since 2019 · 129 posts · 68 votes
2y
You can use ezlandlord forms .com does everything for
1 Reply
Sarita ScherpereelBusiness Member
Real Estate Agent · Chicago, IL · Member since 2018 · 659 posts · 376 votes
2y
Quote from @Daniel Baker:

Most of the smaller and medium size operators I know use the CAR lease. It is updated every year to comply with the new Chicago rule and regulations (residential landlord and tenant ordnance). You can just note on the lease that it is MTM. DM me for more information.

You shouldn't be recommending people use the CAR lease if you're licensed realtor in Chicago. As page 1 of the lease states- "This form lease is provided as a member service by the Chicago Association of REALTORS and is restricted to use only by MEMBERS of the Chicago Association of REALTORS and those who are party to a transaction facilitated by a Chicago Association of REALTORS member."

@Daniel Baker I wouldn't be publicizing on this platform that you're giving this lease out. There have been a few people in trouble for doing this over the last year. Just want you and others to be careful as they have been cracking down on this. This is mentioned on the form over the last fews months a lot.

[email protected]773-456-4644
Sarita Sells4.933 Reviews
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Cardiay Watson
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Member since 2023 · 13 posts · 3 votes
2y
Quote from @Sarita Scherpereel:

Quote from @Daniel Baker:

Most of the smaller and medium size operators I know use the CAR lease. It is updated every year to comply with the new Chicago rule and regulations (residential landlord and tenant ordnance). You can just note on the lease that it is MTM. DM me for more information.

You shouldn't be recommending people use the CAR lease if you're licensed realtor in Chicago. As page 1 of the lease states- "This form lease is provided as a member service by the Chicago Association of REALTORS and is restricted to use only by MEMBERS of the Chicago Association of REALTORS and those who are party to a transaction facilitated by a Chicago Association of REALTORS member."

@Daniel Baker I wouldn't be publicizing on this platform that you're giving this lease out. There have been a few people in trouble for doing this over the last year. Just want you and others to be careful as they have been cracking down on this. This is mentioned on the form over the last fews months a lot.

Well besides the CAR lease what do you recommend then?
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Nathan GesnerBusiness Member
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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
2y
Quote from @Cardiay Watson:

The BiggerPockets lease is definitely for month-to-month. Anything longer than a 30-day stay is considered a long-term lease. This includes month-to-month, one year, or five years leases.
This is copied directly from the BP lease:

2. Term. Subject to the terms and provisions of this Lease, Landlord leases the Premises to Tenant from twelve o’clock noon on ____________________, 20______ until 11:59 p.m. on
________________________, 20_____ or ___ on a month-to-month basis (the “Term”).
Emphasis is mine. Enter the start date, then put a checkmark in the "___" space to indicate it will be a month-to-month rental.

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John Warren
Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
2y
@Cardiay Watson we use the CAR lease as @Daniel Baker mentioned. We simply would change the lease dates to be 1 month to make it a "MTM" lease. I would imagine any strong Chicago lease would be fine, but the CAR is something we do.
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Daniel Baker
Property Manager · Member since 2022 · 28 posts · 24 votes
2y
Quote from @Daniel Baker:

Most of the smaller and medium size operators I know use the CAR lease. It is updated every year to comply with the new Chicago rule and regulations (residential landlord and tenant ordnance). You can just note on the lease that it is MTM. DM me for more information.
@Sarita Scherpereel, thanks, just to clarify I wont be sending anyone a CAR lease but if you have questions about property management or leasing please ask me
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Sarita ScherpereelBusiness Member
Real Estate Agent · Chicago, IL · Member since 2018 · 659 posts · 376 votes
2y
@Daniel Baker It sucks CAR has been cracking down on this. Just don't want to see anyone get in trouble. While I understand the need to protect our services as realtors, rentals are small potatoes.
[email protected]773-456-4644
Sarita Sells4.933 Reviews
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Nathan GesnerBusiness Member
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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
2y
Quote from @Sarita Scherpereel:

@Daniel Baker It sucks CAR has been cracking down on this. Just don't want to see anyone get in trouble. While I understand the need to protect our services as realtors, rentals are small potatoes.

CAR probably spent tens of thousands on attorney fees to develop that form, maintain it, and make it available to REALTORS. It doesn't make sense that they would give it to the world for free.
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