Types of Rental Agreements

by Remy Lacanaria


Posted on 2019-06-06 09:52:38


Rental Agreements

 

rental agreements 3.jpg

 

There are 3 types of rental agreement that a landlord and tenants need to know before a landlord can have the agreement signed by his tenant, and the tenant/s prior to moving-in and signing it.

 


1. Month-to-Month Rental Agreements

As the name of this agreement says, it is the type that is renewed on a monthly basis and doesn't contain specific time limits. Tenancy continues until one party or the other issues a notice to terminate tenancy 30 days written notice given before the rent is due. Rent control cities do not allow and requires the landlord to prove legally recognized reason for eviction. It is also known as "tenancy at will". 

 


2. One-Way Leases

The other rental agreement is the One-Way Leases. They are called one-way leases because, the only one that benefits from it is the landlord. This is also a month-to-month agreements where landlord charges a termination fees when tenants move out before certain number of months.

 

3. Fixed-term Leases

The last is the Fixed-term Leases. A rental agreement for a specific period of time. The most common rental agreements between the landlord and tenant. In this lease, it restricts the landlord from increasing the rent during the fixed term.


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