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How to Decide on a Lease Length in Indianapolis

If you have started the search for a Indianapolis apartment, you have a multitude of choices to consider. Where do you want to reside? How much square footage do you need? What amenities do you require? And of course, how long of a lease are you looking for?

Luckily, it’s fairly simple to decide lease length in Indianapolis by considering the pros and cons of short-term and long-term leases. Keep reading to learn about these different lease choices and how to decide which is right for you.

Indianapolis model living room

Are Shorter Leases a Better Option?

Having trouble committing to a long lease? A short-term contract will likely be the smarter choice for you. These leases have a duration of one to six months. Leasing agreements of a single month are called month-to-month contracts, since they run out and have to be extended by a certain time each month.

Short-term lease options offer Indianapolis renters the most flexibility as you aren’t committed for an extended period of time. You could be interested in a short-term rental like this when in the middle of a significant life change like starting a job in a new city. Another time you might need a shorter rental is if you’ve sold your house but the new home is still being finalized.

The biggest drawback to monthly or short-term arrangements is that they are likely to have a higher monthly rate. On top of that, shorter lease deals are less prevalent, so you might have to settle for a location that isn’t your first choice just to get the lease length you want.

Short-term options work best for tenants who need an interim arrangement and have already started the process for acquiring a home or longer-lasting solution.

Indianapolis model kitchen

Is a Long Lease Right for Me?

Most apartment seekers trying to decide on lease length in Indianapolis go with longer terms. These options typically last between six months and a couple years and have a range of benefits.

Rent is typically less expensive. Long leases are also frequently available, so you’re more likely to find an apartment you enjoy when you’re willing to sign longer leases.

The main disadvantage to a long lease is the firm commitment. You signed the lease for a specified amount of time. If your plans change, and you need to break your lease, you are likely to pay a hefty charge.

Indianapolis patio view

How Do I Decide on the Best Lease Length for Me in Indianapolis?

The right lease term for you accommodates your current situation as well as your housing demands in the future. Ask yourself the ensuing questions to consider your exact situation and whether a short lease or long lease makes sense for you:

  • How long do I want to stay in my apartment?

  • Can I afford higher rent for a short-term rental?

  • Is there any reason I might have to move suddenly and break my lease?

  • If I need to break a long-term agreement, can I afford the fees?

  • Does a temporary rental make sense, or am I looking for a place to settle down?

  • How hard will it be for me to acquire a temporary lease in Indianapolis?

  • Am I willing to live somewhere I don’t love so I can enjoy the convenience of a shorter lease agreement?

Get the Best Lease Length for You in Indianapolis

Whether you need somewhere to stay while undergoing a major life event or a location you plan to live at for years , StoneBridge Luxury Apartment Homes has the right lease for you. Arrange a meeting with one of our leasing specialists by placing a call to 317-743-3314 or by clicking the “schedule a tour” link.
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