Q on 1 year lease agreement - Landlord Forum thread

Q on 1 year lease agreement by Becky Smith on March 21, 2012 @17:26

I am a landlord and had a question as to why a years lease needs to be 364 days long instead of 365 days in a full year? Example lease begins on March 16, 2012 and ends on March 15, 2013. This is what everyone has told me but I don't know why and a tenant that is renewing their lease wants the dates to stay the same.

thank you

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Re: Q on 1 year lease agreement by Anonymous on March 21, 2012 @17:33	[ Reply ]

A full year is 365 days. For example, Day 1 on the calendar would be January 1st and if you count onward to 365, that day would be December 31st (providing it's a non leap year). Same for a year lease. So, a 1 year lease starting on March 16, 2012 will end on the 365th day which would be March 15, 2013. The renewed lease would then be for March 16, 2013 to March 15, 2014. The start date is fully considered Day 1. Your tenant has full possession of the unit starting at midnight on March 16th up through 11:59pm March 15th.

Re: Q on 1 year lease agreement by Mike (CA) on March 21, 2012 @18:53	[ Reply ]

You can count the days however you want, but simply put, if a lease begins on the 1st of the month and ends on the last day of the 12th month, it is a 1 year lease. Some leases end a few days before the end of the month.