Month to Month Tenancy Agreement in Saskatchewan: What You Need to Know
If you`re a landlord or tenant in Saskatchewan, you may have heard the term «month to month tenancy agreement.» But what does it actually mean, and how does it differ from other rental agreements?
A month to month tenancy agreement is a rental agreement between a landlord and tenant that is renewed on a monthly basis. Unlike a fixed-term lease, which has a set end date, a month to month tenancy agreement is open-ended, meaning either party can terminate it with proper notice.
In Saskatchewan, the Residential Tenancies Act governs the relationship between landlords and tenants. Under the Act, landlords are required to provide tenants with a written tenancy agreement that outlines the terms of the tenancy, including the rent amount and payment due date, move-in date, and any rules or obligations that both parties must follow.
For a month to month tenancy agreement in Saskatchewan, the rent amount and payment due date should be clearly stated in the agreement. The landlord should also outline how much notice is required to end the agreement and the consequences of failing to give proper notice.
One important thing to note is that the rent increase guidelines set by the Saskatchewan government do not apply to month to month tenancy agreements. This means that landlords are free to increase the rent amount with proper notice, as long as it is not considered «unconscionable.»
For tenants, a month to month tenancy agreement can provide more flexibility than a fixed-term lease, allowing them to end the tenancy with as little as one month`s notice. However, it also means that the landlord can terminate the tenancy with similar notice, which may not be ideal for tenants who are looking for more stability.
To ensure that both landlords and tenants are protected under a month to month tenancy agreement in Saskatchewan, it`s important to have a written agreement that clearly outlines the terms of the tenancy. It`s also recommended that both parties keep a copy of the agreement for reference.
In the end, whether you`re a landlord or tenant, it`s important to fully understand your rights and obligations under a month to month tenancy agreement in Saskatchewan. With the right knowledge and preparation, you can ensure a smooth and successful tenancy for everyone involved.