Why's a one year lease? Does item I can only rent for one year?

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  • Why's a one year lease? Does item I can only rent for one year?


Answer #1 | 20/12 2013 03:46
A one year lease simply means you must rent for at least one year. It does not mean you have to move out after one year.
Answer #2 | 20/12 2013 03:47
You simply sign a new lease when the year is up if you want to continue to live there. I purchased my home so that I do not have to live in someone else's property. Buying a home allows you to live there as long as you would like.
Answer #3 | 20/12 2013 03:46
A one year lease is just a guarantee to the landlord that you will be there for at least that long and there will be a fee you have to pay usually about the same as a months rent if you break the lease. You can stay there longer unless otherwise stated.
Answer #4 | 20/12 2013 03:46
At the end of 1 year, you can either renew your lease or move out. Your choice. Unless the landlord decides not to rent the property any longer, then you have to move out.
Answer #5 | 20/12 2013 03:50
A lease is a contract which guarantees you will rent the apartment for the lease period. If you "break" the lease by moving earlier, you are still liable for the rent for the rest of the lease term. A lease also guarantees the renter the price will not go up during the lease. The landlord may have you sign a new lease near the end of the term, or may allow the rental to convert to a month-to-month Rental Agreement. A Rental Agreement is also known as a "month-to-month lease" but that term is inaccurate. While it is month-to-month, it is not technically a lease. It is still a contract, one that automatically renews each month unless one of the parties notifies the other of a change. One such change would be an increase in the rent or the termination of the agreement.
Answer #6 | 20/12 2013 04:09
1 year lease usually comes with an extension option in the contract - meaning you can extend the lease for another year or two years without changing the price - make sure it's in your future lease contract. Also- it's important to make sure you will not pay anything in case of not extending the option lease - that option also can appear in a draconian lease contract. Best of luck!
Answer #7 | 21/12 2013 00:51
It used to be that some apartments were that you'd sign a lease every 6 months but some places have discontinued that and gone to the one year lease (mandated by yuur state) wherein you have a lease for one year and then renew it for one year, then continue to renew it for one year. So if you do what the lease says they will allow you to re-rent the apartment (renew your lease)
Answer #8 | 20/12 2013 07:01
A lease is a contract that covers a specific time frame, where the same terms and conditions would apply. In real estate rental,this mean your monthly rent would not go up during this time frame and unless you have a lease violation or would not pay your rent as agreed by the terms of your lease. Your lease should have the conditions stating the terms in which you would be able to remain in the rental as a tenant. Most would require you to inform the landlord or property manager of your decision, to stay or leave 30-60 days in advance o f your to remain in the rental unit lease expiring. In some instances the landlord might inform you that since the lease has expired you would be required to move. In this the landlord would be required to give you advance warning that he no longer would want to have you as a tenant, which would be about the same as your warning, you wold be required to give, about 30=60 days. Once the lease has expired normally if a new lease is no signed between the tenant and the landlord, you would be automatically placed in a month to month tenancy were you wold basically remain under the same terms of the lease agreement with the exception of #1. You are the landlord would normally be required to inform each other 30 days in advance that you would be moving and the landlord would want you to move. Neither of you would need to provide a reason for the move. #2 Your rent could be increased with a 30 day notice. I hope this has been of some benefit to you, good luck. "FIGHT ON"
Answer #9 | 20/12 2013 05:10
Because that is the standard. Most people don't want to be tied into living somewhere longer than that and most LL's don't want to be tied to a rent amount for longer than that. You will not find any kind of "as long as I want" lease.

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