Signed for 2yrs, 1yr not.
2007-01-19 03:39:13 · 7 answers · asked by Granny B 1 in Business & Finance ➔ Renting & Real Estate
Yes, that is possible, depending on was is in your first lease. If the first lease states that you will automatically renew, unless a vacated letter is recieved.
2007-01-19 04:27:43 · answer #1 · answered by Becke A 1 · 0⤊ 0⤋
Whenever a rental agreement expires, pursuant to state law, they automatically convert to a month to month lease. There are pros and cons to having a month to month lease. First you only have to give 30 day notice of leaving. On the bad side, the landlord also only has to give you 30 day notice for you to leave. In addition, the landlord can raise the rent as much and as many times he/she feels like, all they have to do is give you 30 day notice.
2007-01-19 12:00:50 · answer #2 · answered by AJ 7 · 1⤊ 0⤋
After the lease expires you automatically go on month-to-month. This is good because you can give 30 days notice and leave, but bad because they don't have a signed agreement with you to not raise rent when they feel like it.
2007-01-19 11:47:57 · answer #3 · answered by ShavenLlama 4 · 2⤊ 0⤋
It depends on certain circumstances. The previous lease that you signed, was it a 12 month lease? If that period of time has expired, does the lease say anything about an auto-renewal within a certain time frame, if you do not depart residence? If not, then you are free and clear
2007-01-19 12:11:24 · answer #4 · answered by Anonymous · 0⤊ 0⤋
If you signed a 2 year contract, then it's good for 2 years. A 1 year would be good for 1 year.
2007-01-19 11:42:54 · answer #5 · answered by love2shop 3 · 1⤊ 0⤋
It holds until the end date, which would be specified in the agreement.
2007-01-19 11:47:13 · answer #6 · answered by Christina 7 · 0⤊ 0⤋
Yes, it is binding for entire term.
2007-01-19 11:46:38 · answer #7 · answered by justbeingher 7 · 0⤊ 0⤋