A lease agreement is entered into by the landlord who wants to lease out his or her property, and the tenant. There are two main types of leases; the long-term lease and the short-term lease. In this article we will be focusing on the short-term lease. A short-term lease agreement is an agreement that is normally signed for a period less than six months. A good example of a short-term lease is the month-to-month lease.
What mainly differentiates a long-term lease from a short-term one is that with the short-term lease, the landlord can easily change the terms of the lease upon giving proper notice. But with a long-term lease, terms are fixed for the entire duration of the lease. Below are some of the benefits associated with a Short Term Lease St Louis.
It’s Easy to Move Out
One of the main advantages of signing this type of agreement is that you can move out quickly. All that you are required to do as the tenant is to give notice that you have the intention to move out and this must be done on time. This lease is ideal for people who are constantly moving from place to place.
It’s Easier to Increase the Rentals
With a long-term lease, the tenant is obligated to only pay the agreed upon rentals for the entire duration of the agreement; which can be a year or more. But with a short-term lease agreement, because the rentals are fixed for that short period of time; which can be a week or a month, the landlord is at liberty to increase the rent amount each time the lease is renewed. If the landlord wishes to change the rental amount, he or she must also give proper notice of his or her intentions.
It’s Easy to Change the Terms
Apart from allowing the landlord to change the rental amount, there are other changes that can be quickly made to the lease agreement. For instance, in the event that the landlord decides to update the security deposit terms or the pet policy, this can be simply done by entering into a new agreement with the tenant.
Ideal for Vacation Rentals
A Short Term Lease St Louis is also beneficial to those who are looking for a vacation property. Because a vacation is only for a limited period of time, vacationers are usually looking for a place to stay for a week or two. This is great for landlords because they are at liberty to increase rentals during the peak season and then to reduce them when people aren’t coming in as much.
