How long are lease agreements?
Lease agreements between landlord and tenants are usually made for a period of time, generally anywhere from 6 months to a year. Long-term leases, agreements anywhere from five to ten years or longer, are usually created for commercial rental properties since businesses tend to stay put in one spot for a longer period of time. It all depends on the kind of occupant you are looking for and how long you would like them to stay.
Longer lease agreements often provide more security, because the tenant is legally bound to the property for the given amount of time. Lease agreements include fees that should be paid if the tenant would like to move out of the rental property early. For this reason, renters that sign lease agreements rather than a month to month agreement will often stay longer. Lease agreements also provide security for the renter, meaning that the landlord is not able to apply additional fees or raise the rent while the lease agreement is in place. The landlord also won’t be able to ask you to move out of the rental property unless there is a breach of the agreement.
With our property management services, you won’t need to worry about lease agreement details. We’ll handle this for you along with a variety of other management services. Please contact us for a free management quote or for more information.
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