Should I sign a new lease or go month-to-month?
April 4, 2012 5:36 AM Subscribe
What are the benefits of renewing a lease versus going month-to-month? Location: Toronto.
posted by 1UP to Home & Garden (10 answers total)
I've been in my current apartment for almost a year, and the landlord has given me the option of signing another lease or becoming a month-to-month tenant.
- My rent is not being raised either way.
- No desire to move any time soon.
- However, my job is currently less than totally stable and something bad happening is not out of the question.
- My partner and I are awesome, hassle-free tenants.
- Located in Toronto.
(My hesitance comes from being burned once before after going month-to-month: shortly afterwards the landlord gave us notice to leave, saying they were "renovating." They offered to rent the apartment to us after the work was finished... for $400 more.)
I need help weighing the risks and benefits of these options. Do people normally sign another lease if they intend to stay long term? Why should I not? Is there anything better about month-to-month other than flexibility? Thanks!