A month-to-month lease is an agreement between a landlord and a tenant that is legally binding. It continues each month until either the tenant or the landlord gives a 30-day notice. Usually, a month-to-month agreement extends an existing lease. However, with short-term lodging, it is possible for landlords to sign a month-to-month lease from the start of their business relationship.
Month to month rentals in Virginia Beach are becoming more popular. For landlords, it gives them more flexibility on who they rent to move through the year. It’s also a great option if there is a fixed-term lease that’s coming to an end, but a tenant needs a few more months before finding their next home.
For renters, month to month rentals in Virginia Beach means a flexible end date. All they need to do is provide a 30-day notice and walk away from the rental without legal or financial obligations. Additionally, there is no penalty for breaking the lease. All that’s required is that the tenant informs the landlord that they are no longer continuing the arrangement, and they are able to walk away from the arrangement as long as everything is done in harmony with the contract that was signed during the initial contract agreement.
Short-term rentals may allow an individual or a family to stay in a high-end home for a few months that they might not be able to afford for an extended period of time.
Learn more about month-to-month leasing, and see how the team at Boardwalk Realty and Development helps individuals and families find short-term housing that meets their needs
