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Leases come in many different forms and types. Below is information on the forms and types of leases.
Forms of Leases
Oral Agreements: some landlords choose to rely on an oral agreement, instead of a written lease. This form of a lease can be very flexible, but is difficult to enforce on either party.
Written Leases: a written lease is the most common form of a lease. It is better to have a written lease than an oral agreement because terms are well-defined. A longer written lease is better than a short written lease. The more information that is contained in your lease, the better chances you have of being able to enforce the lease provisions.
Types of Leases
Week to week: this type of lease occurs when no term is set and rent is paid every week. A tenant can usually terminate this type of agreement by giving a week's notice.
Month to month: this type of lease occurs when no term is set and rent is paid every month. A tenant can usually terminate this type of agreement by giving 30 days notice before the next rent payment is due.
Year Term: this is the most common type of lease. Its term is set in a written agreement and rent is generally due at the beginning of the month. This kind of lease can usually not be terminated except through cause until the end of the lease term. The lease should designate how renewal is handled, whether notice of termination should be given at the end of the lease term or not.
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