How To Decide On A Lease Length In Indianapolis
Luckily, it’s fairly simple to decide lease length in Indianapolis by thinking about the pros and cons of both short and long leases. Here is what you should know about these different lease choices and how to determine which makes the most sense for you.
Is A Short Lease Best for Me?
Having trouble committing to a longer lease duration? A shorter agreement might be better for you. These leases have a duration of six months or less. Short-term rentals of 30 days are called month-to-month contracts, since they expire and need to be extended each month.
Short-term lease options offer Indianapolis renters the most flexibility because you aren’t committed for very long. You probably need a short lease like this when in the middle of a major change in your life like starting a job in another state. One more circumstance you could require a short-term lease is when you already sold your previous home but can’t move into your new one yet.
An important disadvantage to monthly or short-term arrangements is that they typically cost more. In addition, leases of six months or less are more difficult to find, so you might end up in an apartment that isn’t your first choice just to get the lease length you desire.
Short leases make sense for people who know their living situation is temporary and have already started the process for obtaining long-term accommodations.
Should I Choose A Longer Lease?
A large percentage of apartment hunters trying to decide on lease length in Indianapolis go with long-term contracts. These options commonly run between six months and a couple years and have a range of benefits.
Your rates are likely to be more budget friendly. Long leases are also frequently available, so you can expect to locate a location you enjoy when you’re willing to sign long-term leases.
The main disadvantage to longer terms is the lack of flexibility. You agreed to pay for a certain number of months. If your job or personal life changes abruptly, and you need to break your lease, you will probably need to incur a hefty charge.
How Do I Decide On The Right Lease Length for Me In Indianapolis?
The right lease term for you fits your current housing needs as well as your long-term expectations. You should answer the following questions to identify your needs and whether a short lease or long lease is right for you:
How many months do I want to stay in my apartment?
What is the maximum rent I can pay for a shorter lease?
Can I think of any reason why I may need to move suddenly and cut the lease short?
In the event I was to break a long-term agreement, can I pay the extra costs?
Does a temporary rental make sense, or am I looking for a place to settle down?
How hard will it be for me to find a short lease in Indianapolis?
Would I take something that isn’t my first choice just for the convenience of a short-term deal?