How To Decide On A Lease Length In West Lafayette

Fortunately, it’s easy to decide lease length in West Lafayette when you consider the pros and cons of both short and long leases. Here is what you should know about these leasing options and how to figure out which is best for you. 

Does A Short-Term Lease Make Sense?

Not sure you want to commit to lengthier leases? A shorter agreement will likely work for you. These leases have a duration of fewer than six months. Short-term rentals of 30 days are typically referred to as month-to-month leases, which means they expire and need to be extended each month.

Short leases offer West Lafayette renters a temporary solution as you aren’t committed for more than a few months. You could be interested in a short lease like this when in the middle of a major change in your life like beginning a new job in another state. An additional situation you could require a short lease is when you already sold your previous home but can’t move into your new one yet.

The biggest drawback to monthly or short-term arrangements is that they are usually more expensive per month. In addition, leases of six months or less are not as common, so you might end up in a place that isn’t ideal just to enjoy the lease terms you want.

Short leases are smart for tenants who seek a temporary residence and have definite plans for obtaining long-term accommodations.

Do I Need A Long Lease?

Many people who are trying to decide on lease length in West Lafayette choose a long lease. These options commonly run between six months and a couple years and benefit you in many ways.

Your rates are typically less expensive. Long leases are also frequently available, so you have a greater chance of finding a place you like when you’re willing to sign longer leases.

The drawback to longer leases is the inflexibility. You are in agreement for a certain number of months. If your job or personal life changes abruptly, and you have to move out, you can expect to be faced with a hefty charge.