If you are on the search for an apartment or house to rent, you should not be surprised if you find that almost every apartment you see will require a year-long lease. This is a very normal and typical requirement of apartment rentals, yet there is a chance you may come across some that offer a month-to-month lease. Month-to-month leases are ideal for certain situations, and here are three things to understand about them.
The reasons landlords do not always offer monthly leases
Most landlords do not offer month-to-month leases because they are a hassle to them. Landlords like predictability and consistency, and they can achieve this more so through requiring annual leases. When they offer monthly leases, landlords never know how long a person will stay and when he or she will move out. This increases the potential for vacancies, and vacancies are a loss of income to landlords. This is the main reason landlords prefer not to offer month-to-month lease options to tenants.
The cost differences
The second thing to understand is that if you can find an apartment with a month-to-month lease, you will probably have to pay more for it. If the same apartment that has a yearly lease costs $800 a month, you might have to pay $1,000 a month to get a monthly lease. This cost difference helps to compensate landlords for the loss of income they may experience from offering monthly leases.
Why you might want one
While it is harder to find units that offer this, there are always some available in most areas, as there is a need for units with monthly leases. People who look for apartments with monthly leases often do so because they will only live in the area for a short time. They might be there for work purposes, or they might simply be transitioning from one house to another. People may also seek monthly leases when there is a lot of uncertainty in their lives about their futures. It really does not matter what your reason is, though. If you want a monthly lease, you can likely find a unit that offers this if you search for one.
Finding a unit that offers a monthly lease option might be more challenging than finding one that requires a yearly lease, but if you look hard enough, you will likely find some like this. To learn more or to view apartments for rent, contact an apartment property service, like ABA Rental Properties Inc, today.Share