How to Decide on a Lease Length in Bloomington 10/27/2020 If you have started the search for a Bloomington apartment, you have a multitude of choices to consider. In what neighborhood do you wish to live? How much living area would you like? What are the basic amenities you need? And don’t forget, what length of lease do you want? Fortunately, it’s easy to decide lease length in Bloomington by thinking about the pros and cons of short-term and long-term leases. Here is what you should know about these leasing options and how to decide which makes the most sense for you. Does a Short-Term Lease Make Sense? Are you hesitant to agree to a longer lease duration? A short-term contract might 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 contracts, meaning they expire and have to be extended by a certain time each month. Short leases offer Bloomington Residents a temporary solution as you aren’t tied down for more than a few months. You might want a short lease like this when in the middle of an important moment in your life like beginning a new job in another state. One more circumstance you might need a short lease is when you have sold your residence but the new one isn’t ready yet. The biggest drawback to monthly or short-term arrangements is that they are likely to have a higher monthly rate. Additionally, short-term leases are not as common, so you could get stuck in an apartment that isn’t ideal just to enjoy the lease terms you require. Leases between one to six months are smart for people who seek a temporary residence and have already started the process for securing a home or longer-lasting solution. Do I Need a Long Lease? A large percentage of apartment hunters trying to decide on lease length in Bloomington choose longer terms. Long leases commonly run between six months and a couple years and benefit you in many ways. Rent is likely to be more budget friendly. Long leases are also easier to find, so you’re more likely to find a place you enjoy when you’re willing to sign a long lease. The main disadvantage to longer leases is the firm commitment. You are in agreement for a specified amount of time. If your plans change, and you need to break your lease, you will probably need to pay a steep fee. How Do I Decide on the Right Lease Length for Me in Bloomington? The right lease term for you accommodates your current situation as well as your long-term expectations. Ask yourself the ensuing questions to determine your needs and whether a short lease or long lease makes sense for you: What length of time do I want to stay in my apartment? What is the maximum rent I can pay for a shorter lease? Are there circumstances where I might have to relocate quickly and break my lease? In the unlikely scenario where I have to break a long-term agreement, can I afford the fees? Do I need a rental for a couple of months, or am I looking for a place to settle down? How hard will it be for me to find a temporary lease in Bloomington? Would I take something that isn’t my first choice just for the flexibility of a shorter lease agreement? Find the Right Lease Length for You in Bloomington Whether you want somewhere to stay while undergoing a major life event or a place to settle down and call home , City Flats at Renwick has smart lease choices for you. Arrange a meeting with one of our leasing specialists by dialing 812-578-7432 or by clicking the “schedule a tour” link.