How to Fill Out Month-to-Month Rental Agreement Form
Whenever a rent of any property, not necessarily residential, is at a question, it is always advisable to secure the rights and obligations of the parties entering into an agreement to prevent or eliminate all the possible unpleasant occurrences. The bigger money is at stake in a particular rental deal, the more thorough the undertaking should be. In this blog post, we will figure out what a Month-to-Month Rental Agreement Form is.
To resolve a bigger and more important part of the rental agreement procedure, real estate agents involved in the agreement make use of various rental agreements. We can divide rental agreements, depending on their terms, into two categories: short-term and long-term agreements. The agreements whose term is shorter than a year fall into the first category; and if they provide for an automatic renewal, they can be deemed to be periodic.
Who needs a Month-to-Month Rental Agreement Form?
It is difficult to say that one of the parties to the rental agreement (landlord and tenant) needs completion of the agreement to a greater extent than the other. This is because all the rental agreements are created in such a way so as to legally bind the parties to fulfill the mutual obligations and carry the same level of responsibility in case of a failure to do so.
Is Month-to-Month Rental Agreement Form accompanied by other forms?
A Month-to-Month Residential Rental Agreement serves as a primary document recording the residential rental transaction; it can also be used as the only document confirming the deal. Whether or not this form requires an accompaniment is to be discussed and decided by the parties, too.
In either case, the documents to support the primary agreement or be required in the process of closing the deal may include the following:
- An application to rent or lease;
- Landlord’s disclosure statement;
- Rental history report; and
- Offer to rent, etc.
When does Month-to-Month Residential Rental Agreement expire?
Logically, taking into account the name of the contract, Month-to-Month Residential Rental Agreement is to expire in a month after its completion. It is to be prolonged with every next rent payment made by the tenant to the landlord. If the payment is not made the rent should be considered terminated. However, if either a tenant decides to move out, or a landlord wants them to do so, an advance notice of the termination of the agreement must be provided to the other party. The due date for such a notice should be discussed in a particular case; the standard deadline though is 30 days before the desired move out date.
What information should be provided on Month-to-Month Residential Rental Agreement?
- The parties;
- The residential property;
- The financial details;
- Utility charges;
- Pets; and
- Rights and responsibilities of the parties, etc.
What do I do with the Month-to-Month Residential Rental Agreement after its completion?
The Month-to-Month Residential Rental Agreement must be completed in two original copies to be retained by the parties: one – for the Landlord, and the other – for the Tenant. A copy is to be also made for the real estate agent (or agents) involved in the deal.