North Carolina Month-to-Month Lease Agreement
The North Carolina Month to Month Lease Agreement is a form used in property management to set a number of conditions relating to a deal in which one (1) or more lessee(s) rent a residential property from a landlord. What makes a monthly contract unique in comparison to other rental forms is that the lease doesn’t contain an end-date. This allows the form to be useful in situations where a property is only rentable for a certain part of the year, such as summer homes and other rental properties.
By providing a written notice of only one (1) week, either party can terminate the agreement. Because of the added freedom given to tenants (and thus the increased risk to property owners), landlords often charge 10-50% more rent than what they would charge if the property was rented on a yearly basis. By renting their property on a short-term basis, landlords will find they will attract business people (on a temporary work trip), families on an extended-vacation, and those that are unsure of how long they will need to rent for.
State Laws
Statute: § 42-14
Required Notice to Terminate: Seven (7) days written notice. North Carolina is a unique state in that a very short notice can be given to end the agreement (the standard being a one (1) month notice).