Do apartment lease terms effect price? Yes, generally speaking apartments require a year lease. In some cases, they will do a shorter-term lease but there will be an upcharge for the shorter lease.
One year or more apartment lease terms
Signing a year lease or more is the most beneficial option for both parties. You secure that your rent will be at that rate for the term. Also, you qualify for move in specials and reduced rents. Finally, when you sign a long-term lease you won’t have to rent a truck or take time off from work to move. Most people find moving inconvenient at best and very stressful at worst. Sign the year lease and get the incentives and all the benefits that come with it.
Six to nine-month apartment lease terms
Not all apartments want to do a short-term lease. If you are not sure if you are staying in town, its best you commit to the shortest term you can. Signing a nine to six-month lease may be the best option for you. There are apartments the will still offer you a good monthly rate however, very few apartments will offer you a move in special on a six to nine-month lease.
Two to five-month apartment lease terms
Two to five-month leases are harder to find. There are not many apartments that will work with that type of lease. Also, if they do they will ask for a higher monthly rate. The amount will vary from property to property but the least I have seen is $50.00. Again, if you think you may not stay in town or are in town on a short work assignment, this may work.
Month to month apartment lease term
Month to month leases are not very common. Keep in mind that you still need to give a month notice in most places, so if you need this type of lease make sure you give your notice fast. This is the shortest lease that I have encountered. If you don’t need help moving your personal items this may work. However, if you need help moving your personal items in and out of the apartment, this may not be cost effective for you. A different option is getting a corporate unit. Still month to month but it is furnished and comes with utilities. It is more expensive than the empty unit but do the math and see what works best for you.
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