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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. Where do you want to live? How much living area is right for you? What amenities do you require? And of course, what length of lease do you want?

Thankfully, it’s easy to decide lease length in Carmel by thinking about the positives and downsides of short and lengthier leases. Here is what you should know about these different lease choices and how to figure out which is right for you. 

Carmel model living room

Does A Short-Term Lease Make Sense?

Not sure you want to commit to a long lease? A shorter agreement will likely work for you. These leases have a duration of one to six months. Short leases of a single month are commonly described as month-to-month contracts, since they expire and need to be extended each month.

Short leases offer Carmel renters a temporary solution because you aren’t under contract for an extended period of time. You might want a short lease like this if you are facing an important moment in your life like an unexpected job offer in another state. One more circumstance you could require a shorter rental is when you have sold your previous home but the new home is still being finalized.

A primary downfall to monthly or short-term arrangements is that they typically cost more. Additionally, shorter lease deals are less prevalent, so you might have to settle for a place that isn’t your first choice just to find the lease duration you require.

Short-term options are smart for Residents who know their living situation is temporary and have already started the process for securing a home or longer-lasting solution.

Carmel model kitchen

Should I Choose A Longer Lease?

Most apartment seekers trying to decide on lease length in Carmel go with longer terms. These arrangements typically last up to two years and have a range of benefits.

Your monthly payments are usually more affordable. Long leases are also frequently available, so you have a greater chance of finding a place you like when you’re willing to sign longer leases.

The main disadvantage to longer leases is the firm commitment. You agreed to pay for a certain number of months. If your job or personal life changes abruptly, and you need to break your lease, you can expect to incur a hefty charge.

Carmel patio view

How Can I Decide On The Best Lease Length for Me In Carmel?

The smartest lease option for you fits your current housing needs as well as your future plans. Consider the following questions to consider your exact situation and whether a short-term or long-term lease works best for you:

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

  • How much can I afford for a few months?

  • Can I think of any reason why I may need to leave on little notice and cut the lease short?

  • In the unlikely scenario where I have to break a long-term agreement, can I handle the additional charges?

  • Do I need a place to stay temporarily, or am I looking for a place to settle down?

  • What are the chances I will get a month-to-month or short-term lease in Carmel?

  • Would I accept a less ideal location in order to have the convenience of a shorter lease agreement?

Find The Right Lease Length For You In Carmel

Whether you want a short-term apartment while making an exciting change in your life or a spot you can live for a long time , Midtown Flats has smart lease choices for you. Request a consultation with a friendly member of our team by placing a call to 317-597-4596 or by clicking the “schedule a tour” link.