When is a month-to-month rental a better option than an annual lease?

All things being equal, an annual lease is perhaps the best bet for both tenant and landlord/ owner. But that is not the questions, so I’ll get to it.

A month-to-month is the better option when:

  1. When you haven’t had time to properly do your homework about the home, environment, history, etc. I’ve seen many high-rise, high-priced condominiums and apartment buildings build on superfund areas. The residents are lining up to get first dibs because of the sea view, and the highfaluting status they can attach to their egos….And FB. Then comes all the medical problems, and the funny thing is that they still don’t connect the dots!
  2. You are unsure of your next move, so you want some time to figure out if your current location holds a future for you
  3. You are looking to buy your own place, and a short-term rental is a much better option than hotels….Especially the fact that you can actually cook your meals.
  4. Your financial future looks bleak, and it would be prudent to not over-commit, financially. Especially since the majority of the workforce in Western countries are At-will employees.
  5. Something’s up with the place/ landlord; it’s just a hunch, and you’re not sure, so you need time to research before committing. Many problems (legal, social, criminal) can be avoided if folks would just spend a few hours at the front end doing their homework. Take the Aries Castro case, for instance. Who would have thought they have such lovely neighbours!?
  6. It’s a sort of ‘community’ park style home, and you’re not sure how it all shakes down, so it would be a good idea to try it before you buy it. Especially if it is your first time in such an arrangement, as it turn into a nightmare real quick.
  7. You’re in the military, and the LL is a dunce, (or a twat) and never heard of the military’s affinity for impromptu deployment of service members.

I’m sure there are many more solid reasons, but these are the ones that readily pop up.

Thanks for the A2A, Annika!

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