Any drawbacks to convert my lease to month to month?

Is there any drawbacks to convert my lease to month to month? Thinking about doing that for more flexibility and to avoid hot months.

Also what is a reasonable % increase between one-year lease and month to month? I’m staying at one of the newer apartments and they’re asking 20%+ to convert to month to month. I’m planning to negotiate it down but not sure what is a good target.

Thanks!