Short term rental agreements are becoming more and more popular nowadays, due to the hard economic situation many landlords are not willing to give a long-term rental lease, therefore a month-to-month or six month agreement is preferable. Another explanation of the current boom in short term agreements is the fact that a good number of property owners before buying a house prefer to rent a house in the neighborhood for a while in order to get to know the area and the local real estate market.
When the rental market is doing well, the best tenancy agreement is a one year lease with a financially stable tenant. Alas the current rental market is not doing so well, that is why landlords prefer to have their units rented for six months instead of leaving them vacant and not generating profit.
A month-to-month rental agreement is really simple; the purpose of the agreement is that at the end of any month the tenant could leave the rental unit or the landlord can terminate the lease. If nobody ends the agreement the lease is continued for the next month and so on until one of the parties ends the lease.
Here are some of the biggest advantages of a short term rental agreements:
1. Your rented property is not vacant and generates income.
2. Possibility of a higher rent charge for the next tenant.
3. The transition for one tenant to another is easier.
4. Wider tenant search pool.
5. You can terminate the rental agreement quicker.
6. If the agreement is month-to-month the rent is monthly adjustable.
Remember that no matter what kind of tenancy agreement you are engaging in, do a proper tenant screening, credit history and background check. Also it does not matter if the agreement is long term or short term the tenant has the same responsibilities to keep the property in a clean shape via the professional cleaners Clapton based in the neighborhood condition and returning the rental unit after the tenancy has ended undamaged and clean. In terms of end of tenancy cleaning Clapton has many companies offering the service.
