Lease Term - Month to Month

[Allison Park]

Pros and Cons of Month to Month.  I am using the North Carolina Relators Association Lease as advised by my real estate attorney.  There is a section on the lease that you can check for the lease to go month to month.  I am curious about pros and cons of checking that box to go month to month vs requiring a new lease every year.  It seems like it would provide flexibility to both myself and the tenant by allowing it to go month to month.  They would still need to give 30 days notice.  Also, in this situation how would you go about increasing the rent.  Give 30 days notice that rent will be increasing and then sign an addendum?

[Wesley W.]

I've written extensively here on BP about the pros of M2M leases.  Feel free to search for my posts.