5 ms·
Every lease I have signed converts to month-to-month after the initial 12 month period. From my understanding, that is pretty common. The only places that I hav
by qqqwerty 6y ago
Every lease I have signed converts to month-to-month after the initial 12 month period. From my understanding, that is pretty common. The only places that I have seen that require 12-month renewals are the newer buildings with professional management. But that is just my anecdotal experience. Another thing to consider, the lockdown has been going on for over 3 months now, so 25% of the population that was locked into a 12 month lease has hit the end of their lease term at this point.
Also, there have been some reports of record amounts of lease breaking. Considering that that behavior was probably close to non-existent before the pandemic, the 'record' amount is probably only a few % of leases at most. But it kinda makes sense. If you have access to free or cheap housing (i.e. staying with parents/family, etc...), and if that housing has a better 'pandemic quality of life' (i.e. more square footage, access to outdoors, etc...) than breaking your lease is somewhat rational. Worst case, they force you to pay the remainder of your lease. Best case, they re-rent it or let you get out without paying. Either way, your are improving your QOL, and you are not any worse off financially then you would have been if you stayed in the rental till the end of your lease.
- sjdjd 6y agoIt's pretty common in my experience for landlord in areas with many students to require renewing for a full year, because the rental demand is so spiky. (In Urbana IL, a college town, everything ended 8/1 give or take with absolutely no hope of a part year renewal, here in Cambridge 9/1 is quite common even though there are a good number of working professionals here too. )