What are some advantages of renting an apartment by the month?


Quick Answer

Advantages of renting an apartment by the month include better flexibility, no charge for breaking the lease and easy to convert into a long-term lease. In general, 12-month leases are more common with renters.

Continue Reading

Full Answer

A month-to-month lease offers flexibility especially for people who have a temporary job or are looking for a new job. This is also a good option for people moving to a new city and need time to find the right neighborhood to settle in long-term. A short-term lease allows people to consider new opportunities that may by outside their current commuting zone.

A month-to-month lease does not charge for breaking the lease. People on a 12-month rental agreement are legally responsible for rent payments spanning the 12 months or have to pay a penalty to break the lease. A short-term lease is therefore more economically viable for people who anticipate moving before a year is up.

Lastly, month-to-month lease makes it easier to secure a 12-month lease without any obvious problems. Should the renter choose to switch to a 12-month lease, they may be able to negotiate a standard rental rate for the duration of the lease term. Month-to-month leases may however be more difficult to obtain because landlords generally prefer the security offered by long-term leases.

Learn more about Real Estate

Related Questions