Posted by
sharonlou
17 yrs ago
Hello,
Would appreciate some advice on the above- I want to rent an apartment for just one year, but know that most rentals are for 2 years.What are my chances of being able to do this?
Thanks.
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Most contracts are for 2 years with a break lease clause after 1 year.This means you end up with 13 months rental.After 12 months,you serve the landlord one month notice.Perhaps you could at the start mention a fixed one year lease.
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Yes this is best advise, most people are going to this right now as well if they are looking a renewing over the next few months and buying next year.
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Thanks for the advice- a friend assures me that they told the landlord right from the start that they wanted a one year rental, and that she/he was okay with it, and wrote it into the contract.
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sxc
17 yrs ago
You are best to take the 2 year lease with a 12 month break clause (ie standard terms). You can still break it after 12 months and if you end up staying longer, your rent is guaranteed. Rentals are rising, so you want to protect yourself in case you need to extend.
If in 12 months time rentals have fallen, you can still break the lease and move elsewhere, or negotiate with the landlord and say "if you don't drop the rent I'll move elsewhere".
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a standard 2 year lease with 12 month break clause also allows the landlord to increase rent after 12 months if rent in the area is increasing. Usually, the landlord will serve the 1 month notice first like selling the apartment, etc and then verbally inform the tenant that he is foregoing the planned sale if he gets higher rental.
for sharonlou's case, a 2 year lease with 12 month break clause is still the better option to take.
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Thanks, Elysium and sxc, that's very helpful.
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