Worth to sign up 2 years contract?

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littleping
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Worth to sign up 2 years contract?

Post by littleping » Sun, 20 May 2007 11:23 pm

Hi.. i am signing a lease.. option to sign for 1 year or 2 year. Do you think it is good to lock in the rental amout if it is reasonable? Do you think the rent will go up again in 1 year's time?

Anyone can give me a good advise?

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sundaymorningstaple
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Post by sundaymorningstaple » Mon, 21 May 2007 12:14 am

Personally, I would think rents will continue to increase until 2 to 3 years after the IR's are built. But, obviously, you would have to look at a number of other factors as well. Do you think the economy will continue to gain as it's done for the last couple of quarters? The IR's will mainly drive the more desirable locations and not as much the outlying areas. These areas are more economy driven.
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joop
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Post by joop » Mon, 21 May 2007 12:30 am

Definitely more beneficial to lock in the price for 2 years, since rental prices have been escalating rapidly since last year.

If you sign a one year lease, the chances of you renewing at the same rate or lower is slim. Because landlords know the housing frenzy will still last for a few years.
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