A weekly (week-to-week) rental agreement is a type of periodic lease used for renting out residential property for seven (7) days at a time. Unlike fixed-term leases, the parties do not agree to a specific end date. Instead, the agreement renews on a weekly basis until either party decides to terminate.
In order to end the agreement legally, a written termination notice has to be delivered to the other party stating that they intend to end the contract. The notice period provided in the document must comply with state requirements.
- Month-to-month rental agreement – For renting property continuously in thirty (30) day increments.
- Short-term (vacation) lease agreement – Used for leasing a rental for a short, fixed-term period.
Landlords intent on leasing their rental by the week instead of on a month-to-month or yearly basis lease should be aware of the differences between these leasing periods. Overall, leasing week-by-week has the following pros and cons:
|Income is usually higher; sometimes two (2) times more compared to standard leases.||Increased turnover, leading to landlords having to find multiple tenants within very short periods of time.|
|Better flexibility; like tenants, landlords can terminate the contract with minimal notice and for almost any reason.||Local and state laws pertaining to short-term leases are often stricter and more regulated than standard lease arrangements.|
|Marketing options, like AirBnb and VRBO, are often better exposure and creating listings is inexpensive.||Due to the high volume of tenants, it’s likely that landlords will have to spend more time cleaning and fixing up their rental units.|
Much like a standard lease, a weekly lease agreement should include the following:
- Party Information – The names and addresses of both parties.
- Rental Address – The physical mailing address and unit # of the property.
- Rent – The weekly rent the tenant will be required to pay.
- Notice – The amount of time that must be given by either party to end the lease.
- Security Deposit – The dollar ($) amount of the deposit tenants are required to pay upfront in case damages occur.
- Utilities – A list of utilities, such as water, electricity, cable, etc., and which party will pay for which service.
- Guests – The number of occupants that will be staying on the property and their full names.
- Parking – Where the tenants are permitted to park (if applicable).
The following forms are often used in conjunction with a weekly lease:
The “required notice period” is the amount of time that must be provided in order to terminate a week-to-week lease. Landlords should specify the amount of notice in the lease for states that do not have specific laws for terminating a weekly lease (i.e., “No statute”).
|Alabama||Seven (7) days||§ 35-9A-441(a)|
|Alaska||Fourteen (14) days||§ 34.03.290(a)|
|Arizona||Ten (10) days||§ 33-1375(A)|
|Arkansas||Seven (7) days||§ 18-17-704(a)|
|California||Seven (7) days||§ 1946|
|Colorado||Three (3) days||§ 13-40-107(1)(d)|
|Connecticut||Three (3) days||§ 47a-23|
|Florida||Seven (7) days||§ 83.57(4)|
|Hawaii||Ten (10) days||§ 521-71(d)|
|Idaho||One (1) month||§ 55-208|
|Illinois||Seven (7) days||735 ILCS 5/9-207(a)|
|Indiana||One (1) month||IC 32-31-1-1|
|Iowa||Ten (10) days||§ 562A.34(1)|
|Kansas||Seven (7) days||§ 58-2570(a)|
|Kentucky||Seven (7) days||§ 383.695(1)|
|Louisiana||Five (5) days||CC 2728(3)|
|Maine||Thirty (30) days||§ 6002|
|Maryland||One (1) week||§ 8-402(c)(2)(iv)|
|Massachusetts||Thirty (30) days||Ch. 186 §12|
|Michigan||Seven (7) days||§ 534.134(1)|
|Minnesota||Seven (7) days||§ 504B.135(a)|
|Mississippi||Seven (7) days||§ 89-8-19(2)|
|Montana||Seven (7) days||§ 70-24-441(1)|
|Nebraska||Seven (7) days||§ 76-1437(1)|
|Nevada||Seven (7) days||§ 40.251|
|New Hampshire||Thirty (30) days||§ 540:3(II)|
|New Jersey||Seven (7) days||NJ 2A:18-56(c)|
|New Mexico||Seven (7) days||§ 47-8-37(A)|
|New York||N/A||No statute|
|North Carolina||Two (2) days||§ 42-14|
|North Dakota||One (1) week||§ 47-16-15|
|Ohio||Seven (7) days||§ 5321.17(A)|
|Oklahoma||Thirty (30) days||§ 41-111|
|Oregon||Seven (7) days||ORS 91.050|
|Rhode Island||Ten (10) days||§ 34-18-37(a)|
|South Carolina||Seven (7) days||§ 27-40-770(a)|
|South Dakota||Seven (7) days||§ 43-32-15|
|Tennessee||Ten (10) days||§ 66-28-512(a)|
|Texas||One (1) week||§ 91.001|
|Utah||Fifteen (15) days||§ 78B-6-802|
|Vermont||Twenty-one (21) days||§ 4467(c)(2)|
|Virginia||Seven (7) days||§ 55.1-1253(A)|
|Washington||Twenty (20) days||59.18.200(1)(a)|
|West Virginia||Seven (7) days||§ 337-6-5|
|Wisconsin||Seven (7) days||§ 704.19(3)|