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Monthly Rental Agreement

A monthly rental agreement may also be referred to as a month-to-month rental agreement. Monthly rental agreements differ from standard lease agreements; instead of specifying a set amount of time that the property will be rented for, a monthly rental agreement is on a month to month basis. The tenancy is automatically renewed each month, until either the landlord or the tenant decides to terminate the agreement. Laws vary by state, however written notice is usually required to terminate a monthly rental agreement. Thirty days notice is generally required to terminate the tenancy. In most states, monthly rental agreements can be terminated for any reason as long as proper notice is given. Some landlords use monthly rental agreements in order to avoid lengthy eviction procedures, making it easier to remove tenants who prove to be a nuisance. The price of rent can also usually be raised at any time with proper notice.

Fast Facts

  • A monthly rental agreement is also sometimes called a モperiodic tenancyヤ agreement.
  • The average rental price in 2009 for a 2 bedroom rental in Hollywood, CA was $1753.75 a month.

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