Month To Month Lease vs 1 Year Lease for MTR

Member since 2023 · 9 posts · 7 votes

Hello everyone, I am currently house hacking and have a tenant that I have in a medium term rental and they are staying for an undetermined amount of time. I currently have they on a month to month lease and they have explained to me that it is "annoying to sign a new lease every month." Am I able to have a 12 month lease set up and make it so the tenant give me a 30 day notice. I also am using Avail because it is easier for me to set up leases online. They also want to just Zelle me, rather than using the app, which I have no problem with but I am just trying to protect myself and the tenant.

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Bill B.
Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
3y
MTM leases do not have to be renewed every month, they go on until someone gives notice. A year long lease is just regular LTR, not MTR.

I’m not sure if the state by state leases are free on BP for pro memebrs liek yourself. If so, just download it and fill it out. If not, get a local lease unless you’re happy with your current one.

In many/most states LTR leases automatically become MTM when they expire. There are no signatures required for that to happen and none needed for them to continue month after month.
Or. Just use a 1paragraph extension addendum. The lease previous signed between landlord and tenant for the property located at address x is amended in the following ways. The rent to be x, the expiration to be x.
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Nathan GesnerBusiness Member
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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
3y
Quote from @Travis Loiacono:

MTM is a made-up term that does nothing but confuse people. The law sees two types of rentals: short-term (less than 30 days) and long-term (more than 30 days).
Anything longer than 30 days is a long-term rental. You don't get around the law by signing a new lease every 30 days; you're just wasting everyone's time. You are renting to them on a month-to-month basis, which is a long-term agreement, so you should follow the long-term laws, use a month-to-month lease agreement, etc. If they want to move out, they have to follow the LTR laws and give 30 days notice (or whatever your state requires). The same is true if you want to end the lease on them. Follow the LTR laws and practices.
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