Month-to-month rentals are exactly what they sound like: a monthly rental agreement with the option to leave the property with little notice. However, the terms are often more flexible. These terms make it suitable for tenants who frequently relocate for work or wish to explore a new location.
Although month-to-month rentals are short-term, the arrangement can last for years if it benefits both the tenant and the landlord. Here’s what you need to know about month-to-month rentals in Virginia Beach.
How do they work?
A month-to-month lease is a contract between a renter and a tenant that secures tenancy without specifying an expiration date. The lease automatically renews each month until either the landlord or the tenant gives formal notice to terminate the arrangement. You or your landlord can terminate a monthly lease with the agreed-upon notice period, commonly 30, 60, or 90 days.
If the landlord wishes to terminate the contract, they must serve the tenant with a written notice giving the renter three days to pay the rent or vacate the premises. The period should exclude weekends and legal holidays. If the tenant doesn’t pay the rent or vacates, the landlord may initiate eviction proceedings.
Is a month-to-month rental the best option for you?
Month-to-month Virginia Beach rentals are great options in several instances. Apart from vacations, flexible rental periods are also great if you are due to undergo a major life transition in the coming months such as:
· a career change
· relocating to a new location
· getting married
· long-term vacation or, retirement
Renters who buy a property or make repairs also need a flexible lease. Alternatively, you may buy a new construction home with no specific move-in date and require a short-term somewhere to live.
Why would you consider month-to-month rentals?
Depending on your current needs, a monthly lease is a wonderful alternative for many renters.
· When you quit a monthly lease and move on, there are minimal penalties and fees.
· Increased rental flexibility- A monthly rental arrangement gives you more flexibility in your life, and you’ll avoid fines for ending a standard lease early.
· It’s easier to convert to a full-time lease once you’ve proven yourself to be an excellent, dependable tenant.
Month-to-month rental agreements in Virginia Beach provide both the landlord and the tenant with flexibility. The chance to rent a temporary dwelling while on vacation or to look for a new home is invaluable.