A lease agreement in North Carolina is a lease agreement with no end date between a landlord and a tenant. The end date is set by either the landlord or the tenant in case of termination of the contract. This notice must be communicated to the other party with at least 7 days according to state law (Az.: 42-14). Although it is recommended to have 30 days in the agreement to give both parties enough time to evacuate and find a new tenant. With a written notification of only one (1) week, each party can terminate the contract. Because of the additional freedom granted to tenants (and thus the increased risk to homeowners), landlords often charge 10-50% more rent than they would ask for if the property was rented annually. By renting their property in the short term, the owners will discover that they will attract businessmen (on a temporary work trip), families with longer vacations and people who do not know how long they need to rent. Fixed-term leases are convenient because rent increases can only come at the end of a tenancy agreement, but sometimes a rent of a year or two can be a little uncomfortable, especially a tenant will only stay in an area for a limited time. Under these conditions, a monthly lease really shines because they have a one-month period and last for a long time until a tenant or landlord wants the lease to expire. In North Carolina, a monthly rent is perfect for those who need a little freedom or for landlords who want to rent only for certain times of the year. It is likely that states will differentiate themselves on some important leasing and leasing issues. In the event of termination of the annual lease, a period of months or more should be set at the end of the current rental year. This is a good example of the provisions that a simple lease could contain and the form that should be taken in its final form.
A month-to-month contract in North Carolina is a shorter, more liquid contract that starts each month when the rent is paid, and ends when the month is over and lengthens when the rent is repaid. This type of rental is popular with students, low-demand apartments and tenants with bad loans. When it comes to notice for the end of a monthly rent, North Carolina is relatively unique.