Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago on . Most recent reply

User Stats

65
Posts
9
Votes
Corbin Jones
  • Rental Property Investor
  • Joplin, MO
9
Votes |
65
Posts

Asking quick question about month-to-month lease

Corbin Jones
  • Rental Property Investor
  • Joplin, MO
Posted

Hi all,

My question regards month-to-month leasing. I have a tenant in my newly purchased rental property and she's been on a month-to-month lease for the past 5 years under former ownership. Do I need her to sign the lease every single month? Or is it fine to just have her sign it once unless something changes?

Most Popular Reply

User Stats

13,926
Posts
12,727
Votes
Replied

Keep in mind the length of a lease has no bearing on how long a tenant stays. They leave when they choose regardless of a lease.

I prefer M2M. Draw up your own new lease, M2M, to include everything you want and have her sign it. It will automatically renew every month without resigning . To do your annual rent increase you simply send out a notice of the new rent and when it begins. You do not need to sign a new lease every time you raise the rent. The notification is all that is needed.

Your tenant can sign a longer lease if she chooses however there is no advantage for you as the landlord to use a longer term lease. If she has been there for 5 years on M2M where do you see a 1 year term as being a improvement.

Loading replies...