Real estate investments are a tricky business. While they might eventually reap profits, it often takes years for their value to appreciate and for the owner to receive a significant return-on-investment. In the meantime, some owners have created a cash flow by renting out space in their properties to qualified tenants and collecting rent. Whether its commercial or residential real estate, savvy landlords can turn insane profits if they can successful manage their rental property and address tenants’ needs.
As a tenant, there are certain rights that you are entitled to. Many landlords unfortunately neglect their responsibilities and the burden falls on the tenants, who may not be sure of what they are accountable for. To avoid this issue, check out all of the guarantees for tenants under renters rights.
Typically, the vast majority of renters use the standard year-long contract when they’re leasing property. However, there’s also another option for paying your rent throughout your stay. Some people decide to utilize a month-to-month lease where they periodically reevaluate and decide to renew their contract throughout the year. Here are some useful things to keep in mind when deciding whether to keep your lease month-to-month or year-to-year.