Month to Month Rental Agreement Lease

[Rob Brown]

I have a tenant that has lived in my rental for over a year now and the year lease has expired. I don't feel comfortable offering another year lease to this tenant do to the individual has committed to other financial obligations that most likely strand their budget. 

I think that it would be wise to offer a month to month lease option for this tenant. My current lease term duration states it shall start from XXX to and including XXX. 

Should I have my attorney draw up a month to month rental agreement? My current lease has start and including language. Do most landlords have two sets of rental agreements one that is month to month option and one that has a year duration option? 

Thanks

[John Casmon]

@Rob BrownWhile most leases default to a month to month when they expire, you should still try to get the tenants to sign a month-to-month lease or revise the language as @Marcia Maynard suggested.

I just went through financing for a personal home and the bank insisted on seeing all current leases o our properties and refused to give me credit for the tenants with expired leases even though they were paying M2M. 
@Rob Brown