Is it possible to setup a month to month lease so that a 60 Day Notice to Terminate is required?
My leases are all year long leases. and one of my long term tenants is now asking for a month to month lease when his year lease ends soon. the property is located in a town with two large universities, so renting a unit during the school year is typically difficult. (all my leases roll in summer for this reason). I'd like to accommodate his request, but want to protect myself from getting stuck with him leaving in December or another time period that proves nearly impossible to find a new tenant.
As long as there is nothing prohibiting it in your state statues, any agreement between to parties is enforceable. So, if is written into your lease and he agrees to it upfront, I don't see why it will not work. Are you holding a large deposit to keep him from leaving without notice?
Steve - the property is in NC, I'm not aware of state statues prohibiting the 60day notice, are you?
my interest in a 60day notice is being able to have more time to get it rented out.
I think writing the 60 day notice in is a great idea if you are going to month to month. I have college area rentals too and do what I can to avoid midyear vacancy too.
Does your tenant know when they want to leave? Some of mine will renew after their 12 month lease but for a shorter period of time. If so, you would have more notice and can start the search for a new tenant sooner. I would have him pay a bit more for a month to month lease too.
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