Many local Realtors prepare leases so that after the initial lease term, the lease converts automatically to a month-to-month lease at the same rental rate. We typically advise owners against month-to-month leases and suggest annual leases with specific lease end dates.
If a lease does not have a specific end date, neither the landlord nor the tenant can appropriately plan in advance for an optimal course of action when a 60-day notice is given. Additionally, the rental market slows down significantly during the winter months, so allowing a tenant to provide a termination notice during the slow time of the year is not in the landlord’s best interest.
To further construct leases to take advantage of the spring/summer markets, if an owner is moving out during the winter months, we will suggest starting with an 18 month initial lease in order to get the property onto a spring/summer lease schedule.