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TO LEASE OR NOT TO LEASE

Q. I'm a residential tenant. Do I want a yearly lease or a month-to-month agreement?

A. The answer is--a yearly lease. The reason is that a lease forbids the landlord from raising your rent and gives you some security. If you decide to leave early, the landlord could theoretically sue you for breach of contract, but in actuality, landlords rarely do that for two reasons. First, a landlord is legally obliged to try and rent the place again as soon as feasible, so he does. Second, most tenants don't have a lot of money or assets, so really, it's a waste of the landlord's time to sue a tenant. Instead, he or she usually tries to find a new tenant.

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