Lease Renewals - Going Month to Month

[Jordan S.]

Hi All,

Not trying to go through the pros and cons of MTM vs Term leases here, but I am wondering what other Landlords are doing when renewing a term lease as a Month to Month lease.  We have an 18 month lease coming up in June in PA and are thinking of just going month to month on it for a variety of reasons. 

Do you have your existing tenants sign a new lease specifically stating month to month or just extend the terms of your existing term leases?  There are a few things we'd like to add into the lease so ideally we can create a new month to month lease commencing on July 1 with the additional terms.  What are others doing in this case?

Thanks

[Nathan Gesner]

You can just let it expire and it naturally converts to a month-to-month. I prefer to get a written agreement with the tenant wherein they acknowledge it is month-to-month, what it takes to terminate, and that all other terms remain the same.