Bullshit. 1 year with option to extend 1 year is standard.Brenstar wrote:Well we were told that landlords are reluctant to sign anything less.
Again, bullshit. Find a new agentWe were also told that if we signed anything less than 2 years we would be responsible for paying our brokers fee as the listing agent will no longer co-broke their fee with our rep.
Think about it, there is very little time or effort involved! It's an empty apartment in a supply and demand market, the more demand, the more they will try to screw you into a longer contract at a high rent. Less demand and they will be dropping the rent and doing contracts to how you want it, but will only offer 1 year in case the property rentals move up...so its all about the rental price at the start, and how you can negotiate to your favour.BooneC wrote:Interesting. My experience is different. Many owners are reluctant to accept 1+1 leases because of the potential effort, time and opportunity costs of changing tenants every year.
I see the benefit of 2 years lease is that you got fixed rent for 2 years. Of course if you signed during the peak times that is not so much of a benefit, but it can be. If you renewing there is no guarantees of how much the rent can be raised.Saint wrote:It's quite standard that you have to pay 1 months deposit for each year of lease, so if you sign a 2 year you pay 2 months deposit and 1 month rent in advance. Which always makes me wonder why anyone would want to sign a 2 years lease in the first place. I always insist and will only sign a one year lease.
If you stayed for some time your negotiating power gets stronger.Strong Eagle wrote:My landlord has done 2 year leases with only a standard 1 month deposit... but I think next time I might want the flexibility of 1 year. First two year lease expired in the middle of the price rise... got screwed, relatively speaking. Second 2 year up in 6 months... I might have got a better deal this year instead of next.
Swings and roundabouts, I renewed my lease a couple of months ago with a 15% decrease. My main reason for not signing a 2 year lease is, as young Ksl, mentioned above, I wouldn't want to give a landlord a large wad of cash with no way of knowing that it wont be spent on 4D and you will get little if any of your deposit back.ProvenPracticalFlexible wrote:I see the benefit of 2 years lease is that you got fixed rent for 2 years. Of course if you signed during the peak times that is not so much of a benefit, but it can be. If you renewing there is no guarantees of how much the rent can be raised.Saint wrote:It's quite standard that you have to pay 1 months deposit for each year of lease, so if you sign a 2 year you pay 2 months deposit and 1 month rent in advance. Which always makes me wonder why anyone would want to sign a 2 years lease in the first place. I always insist and will only sign a one year lease.
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