How To Decide On A Lease Length In Indianapolis
Thankfully, it’s fairly simple to decide lease length in Indianapolis by considering the pros and cons of both short and long leases. Keep reading to learn about these different lease choices and how to figure out which is right for you.
Are Shorter Leases A Better Option?
Not sure you want to commit to a long lease? A short-term contract might be the smarter choice for you. These leases have a duration of one to six months. Short leases of one month are typically referred to as month-to-month contracts, since they run out and must be extended by a certain time each month.
Short-term lease options offer Indianapolis renters the most flexibility as you aren’t tied down for more than a few months. You could be interested in a short-term rental like this when in the middle of a major change in your life like starting a job in a different town. An additional situation you could benefit from a shorter rental is if you’ve sold your house but the new home is still being finalized.
The biggest drawback to short leases 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 ideal just to get the lease length you want.
Short-term options make sense for tenants who need an interim arrangement and have already started the process for acquiring a home or longer-lasting solution.
Do I Need A Long Lease?
Most apartment seekers trying to decide on lease length in Indianapolis go with a long lease. Long leases typically last between six months and a couple years and have many advantages.
Your monthly payments are usually more affordable. Long-term deals are also frequently available, so you have a greater chance of finding an apartment you like when you’re willing to sign a long lease.
The main disadvantage to longer terms is the firm commitment. You are in agreement for a specified amount of time. When life takes an unexpected turn, and you need to break your lease, you will probably need to pay a hefty charge.
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. Consider 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?
Can I think of any reason why I might have to move suddenly and terminate the agreement?
If I need to break a long lease, can I afford the fees?
Does a temporary rental make sense, or am I better off with a more permanent solution?
How hard will it be for me to find a short lease in Indianapolis?
Would I accept a less ideal location so I can enjoy the flexibility of a shorter lease agreement?