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
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