How To Decide On A Lease Length In Indianapolis

Thankfully, it’s fairly simple to decide lease length in Indianapolis by considering the positives and downsides of short-term and long-term leases. Keep reading to learn about these leasing options and how to determine which makes the most sense for you. 

Does A Short-Term Lease Make Sense?

Are you hesitant to agree to a long lease? A shorter agreement will likely work for you. These options are for fewer than six months. Short leases of a single month are typically referred to as month-to-month leases, which means they run out and have to be extended by a certain time each month.

Short leases offer Indianapolis Residents the most flexibility because you aren’t under contract for very long. You could be interested in a short-term rental when in the middle of an important moment in your life like an unexpected job offer in a new city. One more circumstance you might need a short lease is when you already sold your residence but the new one isn’t ready yet.

A primary downfall to short leases is that they are usually more expensive per month. In addition, short-term leases are more difficult to find, so you might have to settle for an apartment that isn’t your first choice just to enjoy the lease terms you want.

Leases between one to six months work best for tenants who need an interim arrangement and have a plan in place for obtaining a home or longer-lasting solution.

Do I Need A Long Lease?

A large percentage of apartment hunters trying to decide on lease length in Indianapolis choose long-term contracts. These options typically last up to two years and benefit you in many ways.

Your monthly payments are likely to be more budget friendly. Long leases are also frequently available, so you’re more likely to find a place you like when you’re willing to sign a long lease.

The drawback to longer leases is the lack of flexibility. You agreed to pay for a specified amount of time. If your plans change, and you need to leave before the agreed-upon date, you will probably need to incur a steep fee.