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Renting Guide: Lease Terms

What is a Lease Term
Lease Terms are the duration of time a renter and a landlord agree for a tenant to inhabit a rental. A lease term can be for one year, one month, one week, one day or any other duration of time a landlord and tenant agree upon.

Lease Terms for different situations
Before signing a lease, the landlord and tenant must agree on the lease term, or duration of the stay. Often, landlords will already have a minimum lease term set, such as 1 year, which is pretty typical lease term. However, some landlords are flexible and willing to negotiate the lease term, so it doesn?t hurt to ask. Other rental situations may have different lease terms, particularly in the case of sublet rentals, where the lease term may be the duration of time remaining on the existing lease, or a vacation rental, which may have a lease term of a day, week, month or longer lease term.

Lease Terms Considerations
Consider your lease term carefully before signing a lease. If you feel you are in stable situation where career, education, family or other factors won?t necessitate a move very soon, you should consider a 1 year lease, as this will give you the most rentals to choose from as most rentals often have 1 year leases. If you are new to an area, you may want to consider a shorter lease term so you can get to know the area and decide what neighborhoods you like best before growing into a longer lease term, which usually offers financial benefits. The Standard Rental Search includes lease term search options of 6 months to 2 years lease terms, 1 to 5 months lease terms, less than 1 month lease terms, less than 1 week lease terms, summer rental lease terms and vacation rental lease terms.

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