IME, rentals are usually for a 1 year period(and often the lease auto-renews for another year if neither part gives notice). Another common model is an initial

IME, rentals are usually for a 1 year period(and often the lease auto-renews for another year if neither part gives notice). Another common model is an initial 1 year term that then converts to month-to-month. Generally speaking, turnover higher than 1/year is incredibly costly for the landlord, so 1 year leases are the norm. Longer periods are too onerous on renters. In commercial real-estate, though, longer periods are more common (5 and 10 years are not unheard of).