Everything You Need to Know about a Short Lease Agreement
In some cases, you may need to rent a land for a mega event or something else. In this case, a short lease agreement is very useful. There is no fast & hard rule related to this agreement. Usually, the agreement’s duration is less than 6 months. Now, let’s take a look closer at this kind of lease agreement.
What to Know about a Short Lease Agreement
Renting an apartment can be a demanding task. For those who do not want to stay in a place for a long time, it will be less challenging with a short term lease agreement. However, it is different from other types of lease agreement. So, there are some important things to know before you make this one.
First, this offers flexibility. In fact, this agreement lets the renters to shift over to other apartment that is better or more suitable for their need. Second, it comes with minimal stability. For your information, the rent or lease can fluctuate, too. So, you have to understand it well before making this lease agreement.
Short Lease Agreement Vs Long Lease Agreement
Typically, a short term lease ranges from 1 to 2 years. However, it can be shorter or longer up to 5 years. For a long term lease, it can range from 10 to 50 years. Even more, there are some cases of a long term lease that is up to 99 years. So, the only difference is related to the time duration of the lease or rent.
There is also a term called month to month lease. It happens for a total of one month period. However, it will be renewed automatically every month unless the renter terminates it. Usually, it requires a notice for terminating a few days before the agreement ends if the renter wants to stop the lease / rent.
Pros & Cons of a Short Lease Agreement
There are some pros & cons of a short term rent agreement. Starts from the pros, this agreement makes you not stay limited for a longer time period. Because of that, your business will stay more mobile. Besides, it is also less complicated. If you need spacing fast, you have had a wide range of great option.
On the other hand, there are some cons you will need to know, too. First, the failure may happen to be less certain. Besides that, you may also pay more for the rent or the lease compared to the long term lease averagely. So, it is yours to decide whether you really need short term lease or the longer one.
Short Lease Agreement Template Samples
If you are looking for the template sample of a short lease agreement, you can find it on internet easily. For example, there is a short term commercial lease agreement, a master short term engine lease agreement, a short term seasonal lease, a short term vacation rent, a short term equipment rent, etc.
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