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Updated about 6 years ago on . Most recent reply

User Stats

282
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117
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Andrew S.
  • Rental Property Investor
  • Helena, MT
117
Votes |
282
Posts

Lease transition to month to month

Andrew S.
  • Rental Property Investor
  • Helena, MT
Posted
Good morning BP, I have my first 6 month lease finishing up soon and looking for advice how others have transitioned their tenants from a termed lease to a month to month? Montana has a 30 day notice for tenants and landlords. My tenant has been great respecting the property, neighbors, and paying on time. I hope that he continues to stay renting from me. I don't really care if he wants to do a monthly or annual lease. My lease wording: Rent shall start on Date and continue to Date after which time this Lease Agreement will become a month to month agreement unless this Lease Agreement is renewed for a specified period of time. I've read multiple forum posts on BP and there seems to be a few common options: 1. Continue as normal, no special communications and let the tenant transition to a month to month lease. I think human nature tends to be generally content and not look to move out until asked. 2. Write up a lease renewal document to offer: -moving out at the end of the current lease -transition to a month to month agreement (keep current rent $725/mo) -new 1 year lease (keep current rent $725/mo) -new 6 month lease (would end in December so I'd prefer not). The current rent is in-line with market rents, possibly a little high so I don't feel the need to raise the rent after 6 months. As a previous renter, I enjoyed the freedom of a month to month lease even though I had no intention to move out. I could see how others like the security of a place to live for a year without fear of getting kicked out. Thanks! Andrew

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