Once you reach the end of your lease agreement you usually have a couple of options. One would be to renew the lease for another fixed term, though the other is to stay on in the property on a month-to-month agreement. This simply gives you the opportunity to give thirty days notice and move out, but it also gives the opportunity to the owner to give you sixty days notice to find another place to live.
The transition is quite simple, there are no contracts that you must sign, you automatically move straight into the arrangement. Depending on your circumstances, it may suit you to go month-to-month, maybe while you take your time looking for a new property, or even have purchased a property and awaiting settlement. There are plenty of reasons why it would be beneficial.
A good idea would be to get a better understanding on how the landlord feels about you staying in their property as well as getting any knowledge of their immediate thoughts of what they are doing with the property. Some are gearing up to sell and it’s probably a good idea to begin the hunt. Some are just insecure and want everything locked in via contracts and terms. Most landlords though are quite easy going and take the lease like a handshake agreement.
Either way, the best thing to do is figure out what your current situation is and work toward the best outcome for you. You have your choice and you don’t need to sign anything more that may lead to you breaking lease or tarnishing your rental history.
The following advice is of a general nature and intended as an opinion and broad guide. For all legal, financial or real estate advice you should obtain independent professional advice to do with the specific nature of your circumstances before making any legal, financial or real estate decisions.