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Old 04-29-2010, 08:27 PM
 
Location: Denver
682 posts, read 1,873,694 times
Reputation: 337

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I'm planning to move soon, which depends on when I can get a job in the place I'm moving, too. I just got a letter from my apartment office saying that my lease runs out on July 12 and I have to give two month's notice if I plan to move out at that date.

Although I can't imagine why they need two full months of notice, that's not the stupid part. To renew at a month-to-month rate, I'd have to pay $135 more than what I'm paying now. Or, looking at it from a different point of view, it's $110 more than what my rate would be if I renewed a 13 month lease. Isn't that a little excessive? That's a 22 percent increase over what I'm paying right now in rent. For a stupid little one-bedroom apartment. Grr.
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Old 04-30-2010, 07:10 AM
 
9,807 posts, read 13,423,194 times
Reputation: 8158
Quite simple.

The shorter the lease ,the higher the rates.

Renting a motel room might cost $70 per night where you are.

That's over $3,000 per month.
There might be many nights that motel room brings in zero dollars if it isn't occupied.

Why should a landlord offer the same rates on a month to month rent vs a yearly rent ?

By renting month to month he faces the prospect of dealing with 12 different renters and faces the prospect of having gaps in the rental.
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Old 05-01-2010, 06:23 AM
 
28 posts, read 101,041 times
Reputation: 12
You actually have it quite easy. We just converted to MTM and our apartment charges Market rent + $200. I didn't realize that Market rent was anything they want it to be. For May, they charged us $115 more than our last month's rent plus the $200 fee. I just didn't have the patience to argue since this is our last month in this stinkhole.
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Old 05-01-2010, 07:43 AM
 
4,805 posts, read 20,191,655 times
Reputation: 4971
You may need to give 60-days notice for your current lease, but once you move on to the MTM lease, you should only have to give 30 days notice. That means the LL doesn't have much warning that you are moving out. So there's a greater chance that he'll lose a month of rent. That loss is why LLs typically charge more for short-term leases.

A lot of LLs don't offer the MTM option at all--its year-long leases or nothing. If you need to move mid-year, tough sh*t. Having the option to pay a little bit more, for the freedom to leave when you want, is fortunate for you.
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Old 05-02-2010, 04:08 PM
 
Location: Denver
682 posts, read 1,873,694 times
Reputation: 337
Quote:
Originally Posted by kodaka View Post
You may need to give 60-days notice for your current lease, but once you move on to the MTM lease, you should only have to give 30 days notice. That means the LL doesn't have much warning that you are moving out. So there's a greater chance that he'll lose a month of rent. That loss is why LLs typically charge more for short-term leases.

A lot of LLs don't offer the MTM option at all--its year-long leases or nothing. If you need to move mid-year, tough sh*t. Having the option to pay a little bit more, for the freedom to leave when you want, is fortunate for you.
Yeah, I thought about that. It is convenient. It just seems like that increase would make my rent as high as a house payment. Oh well, I don't plan to be doing the month-to-month thing long.
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Old 05-02-2010, 04:09 PM
 
Location: Denver
682 posts, read 1,873,694 times
Reputation: 337
Quote:
Originally Posted by nimr0d View Post
You actually have it quite easy. We just converted to MTM and our apartment charges Market rent + $200. I didn't realize that Market rent was anything they want it to be. For May, they charged us $115 more than our last month's rent plus the $200 fee. I just didn't have the patience to argue since this is our last month in this stinkhole.
Ouch.
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