What are the advantages of an oral versus a written lease?
For tenants with an oral month-to-month agreement, the major advantage is the ability to terminate the lease and move out without further rental liability with only a short notice to the landlord. The notice usually must be the same as the term of the agreement, commonly 30 days. Tenants are very mobile (20 percent move each year) and the ease of moving can be an important consideration.
For landlords, an oral lease provides an easy way to terminate the lease and make the tenant move out with only a short notice, or to raise the rent. The landlord is usually not required to state a good reason for the termination, as must be done in other cases.
>>What is a lease or rental agreement?
>>Do all tenants have the same kind of lease?
>>What are the advantages of an oral versus a written lease?
>>What are the disadvantages of an oral lease?
>>What are the advantages of a written lease?
>>What are the disadvantages of a written lease?
>>Can leases be negotiated?
>>How should the tenant or the landlord change the lease if either doesn't like certain clauses?
>>Does the law regulate the provisions in a lease?
>>Can tenants be forced to waive their rights by signing a lease?