i only do month to month leases for the reasons stated above..tenants want to get locked in for a while, so i tell them at lease sign up that they're welcome to stay as long as they want, as long as they pay their rent on time and don't drive me crazy...i tell them this gives them flexibility as well..if they decide to move i only require 30 days notice...the truth is most tenants will leave whenever they want anyways so a lease does little to protect a landlord...if a tenant so much as looks at me the wrong way, i can give them notice...that's not why i did it though..i pay the water bill at some of my apartments and i first had tenants renting their washing machines to friends, bunking up and having friends move in and sleep on couches..it's near damn impossible to prove that someone lives there..one night they stay here, the next night they stay on someone else's couch..so i said screw it, i'm not gonna try to prove something that is impossible to prove..if i feel something's fishy, they get a 30 day notice...BAM...don't have to prove anything that way...or i can just raise their rent with a 30 day notice as well...hope this wasn't a rambling post, but the sooner landlords learn that a month to month lease protects us more, the better we'll all be...i have a building for sale and all potential buyers want long term leases..they don't understand that long term leases mean diddly squat!!

I could also put a bed and couch in it before my deadline ?  

You may get lucky and find a tenant with some ambition to get off the couch but that’s rare in these neighborhoods.

They proceeded to run around SCREAMING throughout the entire house, attacking my dog, jumping up and down on my couch like they were at home, and then to top it off, after they put their shoes back on on their way out, he ran right onto the carpet after the dog again. 

Also 1 to 2 bed with the pull out couch is optimal.

Dartmouth is also on the cheaper side and I find has everything you ever need with Dartmouth Crossing and Mic Mac Mall.

One could invest the same amount in any other business and if you run your business right you will make income or cash flow or however you want to couch it...

You will also need to account for replacing comforters, couch cushions (or couches altogether!)

I don't know canadian laws, but when you tell them the increase, be sure to couch it in terms up the updates and renovations, especially anything the insurance didn't cover.

The reason is that not everyone is okay with sleeping on someones couch or air mattress.