2. Should I Rent or Lease?
Getting into a new place to live is
very exciting time. This is especially true if
person looking for a new home or apartment
a first-time renter. Having a place to call
own gives you a great feeling of independence.
question that arises when looking for an apartment
home to live in is, "Is it better
rent or lease." Both options have advantages and
. The best way to go about making this
is to base it on your own personal
.
Renting is a simple process that usually does
require the person to stay in that space
a specific length of time. In California, and
most states, this is called a month-to-month rental
. A landlord will generally require the new renter
pay two months of rent in advance. The
owner is also likely to ask for a
or cleaning deposit, or both. The advantage of
month-to-month rental is that the renter can get
of the agreement by simply giving the owner
one-month notice to vacate. The same applies to
owner. If the owner asks the renter to
, all he or she has to do is
ask the renter to vacate in 30 days.
lease works a bit differently. It's usually signed
one year, so both the renter and the
agree to a pre-determined length of time the
will occupy the unit. The renter signs a
agreeing not to move out of the home
the one-year period. After that, it works much
renting. There are consequences on the part of
parties if the lease is terminated early though,
it is better to wait your lease out
to terminate it early.
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