When the end of your Rental Agreement contract is coming, it is possible that there are a few options. Our system will automatically reach out to you about 60 days before the end of your lease to see if you would like to renew or what your plans are.
Sometimes this question comes up: Can I go Month-to-Month?
THE ANSWER: It depends
The rental agreement automatically defaults to a month-to-month basis with an additional fee of 10% of the monthly rent as written into your rental agreement. However, this does not mean the landlord is required to allow a month-to-month basis. The landlord or the tenant can terminate the contract with proper written notice.
Here are the key things to know if you are interested in going month-to-month:
Each situation is unique according to the property and landlord. We will need to assess and check with the owner of the property to see if a month-to-month basis fits with their plans for the property
We do not allow month-to-month contracts to go past the 4th Sunday of July. We know this might be inconvenient, but we live in Utah where the rental market changes in the fall and winter. As a result, if you are not signing a lease through the winter and into spring, then you will be given notice to vacate for July so the owner has time in the good rental season to find new tenants.
If your lease ends in July or later in the year, you will not be allowed to go on a month-to-month basis
If your lease ends prior to July, then we are happy to look at your situation and see if a month-to-month contract will be approved by the landlord.
You will be required to pay the 10% fee each month while on a month-to-month basis.
If approved, no paperwork is required to go month-to-month as your current rental agreement automatically defaults to this.
If approved, while on month-to-month basis, you are still required to give proper written notice to vacate as per the timing required in your rental agreement.
If you have read through all of this information and still have questions about a month-to-month contract basis, please reach out to Marketing@nestwellpm.com or 801.268.4134
Your Nestwell Property Management Team