Periodic (month to month) leases offer tenants greater control in terms of terminating their agreement.

Tenants who are constantly on the move because of their occupation, benefit from this type of flexibility.

They can nominate when they want to end the tenancy and can pay rent until the day they vacate the premises.

These types of leases suit properties near universities and also, if you are going to be away for an extended period of time and want to rent out your primary residence.

Short term leases also appeal to people who have sold their home and have not yet found a new residence.

Also, these leases will appeal to people who want to familiarise themselves with a particular neighborhood, or a landlord before they commit to a long term lease.

Month to month leases also give landlords more flexibility, if they have properties in less than desirable locations.

These properties can tend to attract lower income tenants, who may struggle with consistently paying their rent, so month to month leases will make it easier for landlords to dispense with unreliable tenants.

One major benefit for investors is that periodic leases make it easier to increase  rental yield as the market dictates, rather than waiting for long term leases to expire.

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