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How To Decide On A Lease Length In Carmel

October 27, 2020

Patio view in Carmel apartment

If you have started the search for a Carmel apartment, you have a multitude of choices to consider. In what area would you like to move to? How much living area is right for you? What are the basic amenities you need? And don’t forget, how long of a lease would you like?

Thankfully, it’s fairly simple to decide lease length in Carmel by thinking about the advantages and disadvantages of both short and long leases. Here is what you should know about these leasing options and how to determine which makes the most sense for you. 

Carmel model living room
 

Is A Short Lease Best for Me?

Not sure you want to commit to a long lease? A short-term contract will probably be the smarter choice for you. These leases have a duration of six months or less. Short-term rentals of a single month are commonly described as month-to-month leases, since they run out and must be renewed each month.

Shorter agreements offer Carmel Residents the most flexibility since you aren’t committed for more than a few months. You could be interested in a short-term rental like this if you are facing a significant life change like an unexpected job offer in another state. Another time you might need a shorter rental is when you already sold your residence but the new one isn’t ready yet.

An important disadvantage to short leases is that they are likely to have a higher monthly rate. Additionally, leases of six months or less are less prevalent, so you could get stuck in a location that isn’t the best option just to get the lease length you want.

Leases between one to six months work best for Residents who seek a temporary residence and have already started the process for securing a more permanent residence.

Carmel model kitchen
 

Do I Need A Long Lease?

Many people who are trying to decide on lease length in Carmel go with long-term contracts. These arrangements commonly run between six months and a couple years and have a range of benefits.

Your rates are likely to be more budget friendly. Long leases are also more commonplace, so you’re more likely to find an apartment you prefer when you’re willing to sign a long lease.

The main disadvantage to longer leases is the firm commitment. You agreed to pay for a certain number of months. When life takes an unexpected turn, and you need to leave before the agreed-upon date, you can expect to incur a hefty charge.

Carmel patio view
 

How Do I Decide On The Right Lease Length for Me In Carmel?

The smartest lease option for you fits your current housing needs as well as your housing demands in the future. You should answer these questions to determine your needs and whether a temporary or more permanent lease is right for you:

  • How long do I want to stay in my apartment?

  • How much can I afford for a few months?

  • Can I think of any reason why I could need to leave on little notice and break my lease?

  • In the event I was to cut a longer lease short, can I handle the additional charges?

  • Do I need a rental for a couple of months, or am I better off with a more permanent solution?

  • Can I acquire a month-to-month or short-term lease in Carmel?

  • Would I take something that isn’t my first choice just for the convenience of a short lease?

Get The Best Lease Length For You In Carmel

Whether you need a temporary rental while dealing with an important life moment or a spot you can live for a long time , The Legacy Towns and Flats has the right lease for you. Arrange a meeting with a friendly member of our team by calling 317-674-1318 or by clicking the “schedule a tour” button.