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What Are the Disadvantages of a Month-to-Month Lease?

One of the greatest risks for the month-to-month lease is the ever present option for termination. Depending on your state, the landlord may only have to give you seven days to two weeks' notice before you have to move out. In other states, you may have as long as 30 days. But even 30 days is not much time to pack up your belongings and find a new home. Remember that just having a good relationship with your landlord is not enough to prevent such an abrupt move. Your landlord may have to close down the rental property for a number of reasons entirely unrelated to you. It's not a good idea to sign such an agreement unless you know that you can find another apartment or house fairly quickly. Consider having a ""quick move"" plan on hand so that you don't panic if the landlord wants you out within a month.

The other con to the month-to-month lease agreement is that the landlord can respond much faster to market changes. In many states, that ability comes because he can change the price with each month. He or she cannot do this unilaterally. You have to sign the new agreement, but if you choose not to sign the new agreement, you will have to end the tenancy yourself. Fixed term leases, on the other hand, lockdown that price for certain over the lease period.