So you’ve reached the end of the tenancy, and you and your tenant have some choices to make. Generally at this point in time, you and your tenant have three good options and one not-so-good option.
Lease renewal and rent changes
The first good option is to simply renew the lease for a new agreement term by creating a new lease document. Most states, Idaho included, don’t say much about lease renewal except laws regarding rent changes. If you decide to change your rental amount for this new lease period, you are required by law to give your tenant at least 15 days’ notice before the begin,ning of the new lease period. You are also able to change any agreement terms from the last lease period to this new one by giving 15 days’ notice to your tenant.
Notice to quit
The second good option is for the tenant to simply provide you, the landlord, with a written notice of his or her intention to move out by the the end of the agreement term. They will need to provide the notice to quit at least 30 days before the end of tenancy for it to be applicable.
If a tenant fails to provide a notice to quit before the end of the tenancy, and the landlord agrees to the situation, the agreement term becomes a month-to-month tenancy: the third good option. All terms of the agreement will continue in full force and effect. Either the tenant or the landlord can give notice for the agreement term to end by giving a month’s written notice to the other party.
Finally, the not-so-good option, holdover, is when a tenant continues in possession of the premises even after the agreement term is terminated and the landlord has not agreed to this. In this situation, the tenant must pay the landlord double the monthly rent, computed and prorated on a daily basis, for each day the tenant remains in possession. In addition, the tenant shall be responsible for any further losses and/or costs incurred by the landlord as determined by a proceeding before any court of competent jurisdiction. Holdover can become an issue for the landlord when attempting to re-rent the property to another tenant.