Whats the difference between month by month leasing and just regular leasing for an apartment?

Question

Also which one is better for a college student on a budget, moving into an apartment for the first time

Answer 1

With month to month leasing the price of rent could go up. Depending on your contract with you landlord they only have to give you so much notice that the rent is going up. The benefit to this type of lease, however, is that you can give your 30 days notice and move. This type of lease is good if you know you are only going to be there a short period of time.

A regular lease is usually 3, 6, 9 or 12 months. The time frame can be changed. But, with a written lease contract the amount of the lease cannot change within that time frame. This type of lease is good if you know you are going to be in one area for awhile.

Answer 2

Leasing is an prolonged term contract (a year, 2, 3...regardless of) professional: protection -you have a place for the size of the contract and a few important issues might could desire to take place so which you would be able to be evicted/lease terminated by potential of administration. Con: in case you ruin the lease (flow out till now the contract expires, you will pay various costs). Say you have a lease for a year, and additionally you for regardless of reason could desire to flow after 6 months...you will pay costs AND lease for the home you dont stay in anymore till it gets rented out back...that must be as much as those further 6 months which you have been meant to stay there for. can't boost lease on you continuously Month to month is largely a apartment contract. professional: you at the instant are not tied right down to that place, can depart whenever you're arranged with a suitable be conscious Con: on the grounds that there's no long term contract, administration can settle directly to ask you to depart at any factor (with a suitable be conscious) Can boost lease extra frequently

Answer 3

It also depends on where you live. For example, if you live in an area like Boston where there are lots of college students then most leases are a year and go from Sept - Aug. If you start renting at a different time of year they may rent at a lower rate to you on a month to month lease, but then come the Sept time frame when lots of people are looking they'll up the rent. So just make sure you understand what the landlord's plans are.

Answer 4

You have to look at the terms of the lease. Some places require that you sign a year lease or 6 month lease and then you're locked into that contract for the specific amount of time. Breaking it early would mean losing security deposit. If it's month-to-month, you can stay as little or as long as you want. All you need to do is give 30-day notice when you want to leave.

Answer 5

A long-term lease is an agreement with a term of at least one year. The advantage to the tenant is that the amount of rent owed per month has been agreed to and cannot be increased without an agreement by both parties. The advantage to the landlord is that the tenant agrees to stay for the length of the term and pay the landlord for lost rent if he leaves early.

A short-term rental is on a month-to-month basis, and either party can give the other 30 days' notice at any time.

Answer 6

Well month by month you pay accordingly and if you decide to move out in a hurry you wont be liable for any charges (except maybe damages) A year or two year lease that you may sign you will be charged for the rest of that year or two years if you decide to leave early. Hope that helped. On a personal note dont sign a lease(yearly) unless you love the place and absolutely plan on staying there for the full year. Landlords do this to keep people in their places so they wont have to deal with the cleanup and finding new tenants after someone stays there for a month. Hope that helped

Answer 7

In month to month either party can terminate the lease with 30 days notice, with a lease both parties are obligated to comply until the lease period is up. As a tenant its more flexible to go month to month, but generally the rent is higher.

Answer 8

Leasing is a contract, weather it's month to month, 12 months or 6 months, you have commited to paying your rent for that time. To break the lease, you'd most likely have to pay a fee. Usually month to month leasing is more expensive. It's only worth it if you're in the process of looking for a new place to live.

Answer 9

month to month means just that. you only have to give thirty days notice in my state. your state might be different. a lease is long term, say a year, if you move out before lease expires your on the hook for the balance owed. if your a college student id go for the month to month-rental agreement. you never know when things might change. hope this info helps.

Answer 10

Usually, when you sing a lease agreement, you get a cheaper rate for signing a commitment. They know they can expect "x" amount of dollars per month.

When you go month-to-month they want to get much as the can, when they can. Because they do not know if you are going to be there next month, or not (minus the 30 day notice).