When it comes to renting property, there are a variety of different agreements and contracts that a tenant and landlord may use to establish the terms of the rental. One such agreement is the month-to-month rental agreement, which allows tenants to rent a property on a short-term basis with the option to renew each month.
A verbal month-to-month rental agreement is one that is made verbally between the tenant and landlord without any written documentation. While verbal agreements are legally binding, they can be difficult to enforce if there is any dispute about the terms of the agreement.
For this reason, it is always recommended that tenants and landlords use a written rental agreement to establish the terms of the lease. However, if a verbal agreement is used, there are still some key elements that should be included in order to protect both parties.
First and foremost, the monthly rent amount should be clearly established in the agreement. This should include any additional fees or charges that the tenant may be responsible for, such as utilities or maintenance costs.
The length of the rental period should also be established, typically with a monthly renewal option. This should include the date that rent will be due each month and any penalties or late fees that may be assessed if rent is not paid on time.
Other important elements that should be included in a verbal month-to-month rental agreement include the responsibilities of the landlord and tenant, the process for terminating the lease, and any restrictions on how the tenant can use the property.
While a verbal month-to-month rental agreement may be sufficient for some tenants and landlords, it is always best to have a written agreement in place to avoid any potential disputes or misunderstandings. This can also provide greater clarity and transparency about the terms of the rental, helping to ensure a positive and mutually beneficial relationship between tenant and landlord.