A Simple One Page Lease Agreement for Month-to-Month Rentals

If you`re a landlord or a tenant of a short-term rental property, a month-to-month lease agreement can be an ideal arrangement. It offers flexibility that a long-term lease doesn`t and provides peace of mind knowing that either party can terminate the lease agreement with a month`s notice. However, drafting a lease agreement can seem daunting, especially if you`re new to the process. Here`s a simple one-page lease agreement that can help streamline the process:

1. Basic Information

The first section of your lease agreement should include the basic information about the rental property. This includes the address of the property, the names of the landlord and tenant, and the start date of the lease agreement. Additionally, the lease should state that the rental unit is being rented on a month-to-month basis.

2. Rent Payment

The next section should outline the rent payment amount and the day of the month it is due. Specify the amount of the rent to be paid monthly and the method of payment. You should also include whether there is a late fee policy and if so, the amount that will be charged for late payment.

3. Security Deposit

The lease agreement must include a section on the security deposit, the amount of the deposit, and the conditions under which a deposit will be refunded. In this section, specify the amount of the deposit required and the timeframe for the landlord to return it at the end of the lease.

4. Maintenance and Repairs

The lease agreement should also outline the maintenance and repair responsibilities of both parties. The landlord is typically responsible for maintaining the rental property and ensuring it`s in a livable condition. The tenant`s responsibility is to keep the rental property clean and report any maintenance issues promptly.

5. Termination

The termination section should specify the notice required for either party to terminate the lease. In a month-to-month lease, either party can end the lease with a one-month notice. This section should also include any penalties for breaking the lease early, including forfeiture of the security deposit.

6. Signatures

Finally, both parties should sign and date the lease agreement. The lease should have space for the names and signatures of the landlord and tenant, along with the date the lease was signed.

Conclusion

A simple one-page lease agreement for month-to-month rentals is a straightforward way to formalize a rental agreement. The above sections provide a basic outline of what should be included in the lease agreement. Remember, it`s always best to consult with a legal professional to ensure that your lease agreement meets all legal requirements in your area.