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How To Decide On A Lease Length In Indianapolis

October 27, 2020

Patio view in Indianapolis apartment

If you have started the search for a Indianapolis apartment, you have many decisions to make. In what area would you like to reside? How much living area would you like? What amenities do you require? And most importantly, what lease duration do you want?

Thankfully, it’s easy to decide lease length in Indianapolis by considering the advantages and disadvantages of short and lengthier leases. Learn more about these leasing options and how to figure out which is best for you. 

Indianapolis model living room
 

Does A Short-Term Lease Make Sense?

Not sure you want to commit to lengthier leases? A short-term contract will probably be the smarter choice for you. These leases have a duration of six months or less. Leasing agreements of one month are commonly described as month-to-month leases, meaning they expire and need to be renewed every month.

Short-term lease options offer Indianapolis Residents a temporary solution because you aren’t tied down for an extended period of time. You might want a short-term rental like this when in the middle of a major change in your life like an unexpected job offer in another state. An additional situation you could require a short-term lease is if you’ve sold your residence but can’t move into your new one yet.

An important disadvantage to shorter contracts is that they are usually more expensive per month. Additionally, shorter lease deals are more difficult to find, so you might end up in a location that isn’t the best option just to find the lease duration you want.

Short leases make sense for tenants who need an interim arrangement and have already started the process for securing long-term accommodations.

Indianapolis model kitchen
 

Should I Choose A Longer Lease?

A large percentage of apartment hunters trying to decide on lease length in Indianapolis choose longer terms. Long leases are usually between six months and a couple years and have many advantages.

Rent is likely to be more budget friendly. Long leases are also more commonplace, so you can expect to locate a location you enjoy when you’re open to signing a long lease.

The primary downside to a long lease is the inflexibility. You are in agreement for a specified amount of time. When life takes an unexpected turn, and you need to leave before the agreed-upon date, you will probably need to incur a hefty charge.

Indianapolis patio view
 

What Should I Do To Decide On The Most Sensible Lease Length for Me In Indianapolis?

The best lease length for you fits your current housing needs as well as your future plans. Consider these questions to consider your exact situation and whether a temporary or more permanent lease is right for you:

  • How many months do I plan to live in my apartment?

  • Can I afford higher rent for a shorter lease?

  • Are there circumstances where I may need to move suddenly and terminate the agreement?

  • In the event I was to break a long-term agreement, can I afford the fees?

  • Do I need a rental for a couple of months, or is a long-term rental the right decision?

  • How hard will it be for me to find a temporary lease in Indianapolis?

  • Would I accept a less ideal location in order to have the benefits of a short lease?

Get The Best Lease Length For You In Indianapolis

Whether you want somewhere to stay while dealing with an important life moment or a location you plan to live at for years , The Line-Urban Flats on the Monon has smart lease choices for you. Request a consultation with a friendly member of our team by calling 317-659-6620 or by clicking the “schedule a tour” button.