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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 do you want to live? How much living area would you like? What are the basic amenities you need? And most importantly, what length of lease are you looking for?

Fortunately, it’s fairly simple to decide lease length in Carmel by considering the pros and cons of short-term and long-term leases. Here is what you should know about these leasing options and how to figure out which makes the most sense for you. 

Carmel model living room
 

Does A Short-Term Lease Make Sense?

Not sure you want to commit to a long lease? A short lease will probably be better for you. These leases have a duration of one to six months. Short leases of a single month are called month-to-month contracts, meaning they expire and must be extended each month.

Short leases offer Carmel renters the most flexibility as you aren’t tied down for an extended period of time. You might want a short lease when faced with a major change in your life like starting a job in a new city. One more circumstance you could require a short lease is if you’ve sold your previous home but the new one isn’t ready yet.

The biggest drawback to monthly or short-term arrangements is that they are likely to have a higher monthly rate. On top of that, leases of six months or less are more difficult to find, so you might have to settle for a place that isn’t the best option just to get the lease length you want.

Short-term options work best for tenants who seek a temporary residence and have definite plans for acquiring a home or longer-lasting solution.

Carmel model kitchen
 

Should I Choose A Longer Lease?

A large percentage of apartment hunters trying to decide on lease length in Carmel choose long-term contracts. These arrangements are usually up to two years and benefit you in many ways.

Rent is likely to be more budget friendly. Long leases are also more commonplace, so you can expect to locate an apartment you prefer when you’re willing to sign longer leases.

The drawback to longer leases is the inflexibility. You signed the lease for a designated time frame. If your plans change, and you need to break your lease, you are likely to pay a hefty charge.

Carmel patio view
 

How Can 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 future plans. You should answer the ensuing questions to consider your exact situation and whether a temporary or more permanent lease makes sense for you:

  • How long do I plan to live in my apartment?

  • How much can I afford for a shorter lease?

  • Can I think of any reason why I may need to move suddenly and cut the lease short?

  • In the event I was to cut a longer lease short, can I pay the extra costs?

  • Does a temporary rental make sense, or am I better off with a more permanent solution?

  • Can I get 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-term deal?

Find The Right Lease Length For You In Carmel

Whether you need a temporary rental while making an exciting change in your life or a place to settle down and call home , North Haven Apartments has ideal lease options for you. Schedule an appointment with one of our leasing specialists by dialing 317-350-1875 or by clicking the “schedule a tour” link.