How to account for month to month leases?

Leases that convert to a monthly lease after an initial term may need to be recorded under ASC 842

Many leases convert to what's called "month to month" after an initial term. The lessee should consider the same factors for these leases as it would for other leases. Such factors include, contract-based, asset-based, market-based and entity-based factors to determine the term for which the lessee is reasonably certain to extend the lease.