Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Just wondering is there a such thing as a two year lease anymore?
I see/hear about less and less of them.
I heard the lease use to go 1 2 and 5 year..is that right?
Should I bring it up when looking for an apartment?
I like the Archstone in midtown west
I think most landlords like to start with a one year lease and then after that year is up they *may* offer a two year lease if the tenant and landlord get along.
look again, 2 year leases have been higher than 2 seperate 1 year leases in the recent past.
you pay a premium to lock in that 2nd year . . the way the rents were on stabilized leases the last good couple of years the better deal was the 1 year.
you pay more both year 1 and year 2 with a two year. the 2nd year really has to come in way higher for a 2 year lease to pay off.
right now a 1 year is 3.75% and next year is not known.. lets say its 5% ... 5% on top of the 3.75% the year before is alot cheaper than a 2 year .
with a 2 year you pay 7.25% year 1 and 7.25% year 2 .
Last edited by mathjak107; 05-01-2012 at 01:24 PM..
I could see this being a good Idea in a lux building. I remember in 2008/9 places was renting for 2500 and the next year they jacked the rent up to 3500-4000 market rate..I hate to be in a situation like that
most people are fooled by the 2 year. you see 3.75% for a one year and 7.25% for a 2 year so you think thats the total jump over 2 years. its not , the 7.25% starts right on day 1 and goes on for 24 months. thats an insane premium.
rents would have to jump an amazing amout to be worth the 2 year rate.
see the example below if you have any doubts thats how it works.
LOL wow...those are the people land lords really hate.
A friend of mine nieghbor is paying under $150 to live downtown, and the bad part is she is behind on rent...of course she is well into her 80s I think
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.