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Ms. Denton Lone Star â„¢ | What's the purpose of locking people into a lease for apartments? |
Why can't people just move out on their own free will? |
 |
 
dan74diesel
 |
it assures the person renting the place that they will have a steady income. if you have someone that wants to rent an apt for a month and a person that wants it for a year odds are they would give it to the person that wanted it for a year. i don't think its fair because you can sign a lease and have to transfer jobs and have to break it anyway. good luck hope that helps. |
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Nancy Kay
 |
It is to cut down on rapid turnaround for the landlord. The shorter you stay, the more frequently the landlord has to clean/paint/carpet, etc. to get the apartment ready for a new tenant, so they want you to stay a minimum amount of time. |
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Mav
|
It's more for convenience than anything and depending on the lease if you leave earlier than planned you can be assessed a monetary penalty. Why I said it is for convenience is because otherwise people might move in an out of apartments monthly. Don't forget in certain leases it is also to protect the lessee. |
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9inches
 |
because if there was no leases like for a years time, we couldent afoord to keeep up the taxes on these bulidings, kleaning apartments making necessary repairs, most places would be run like a grey hound bus station just drag in your suit case, for a weeks time and check out, etc, and, we couldent, posible maintain, status quoe, on screnning new tentants etc. |
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The Mr. Pine
 |
Occupancy rating. |
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sclady62001p
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it is called money i use to be the manager of a 120 unit apartment complex and the owners made me do that crap all the time but their are ways to break that lease with out problems you can IM me |
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Bobbie
|
In attempt to control cashflow. Put yourself in the shoes of the apartment owner- wouldn't it be better if you can lock the occupant so that you can guarantee your cashflow?
If you own a property, even if you have no occupants you would still have to pay certain type of expenses such as property taxes, maintenance, etc. If your property does not generate income then you're going to have to pay these expenses out of your own pocket. No fun- eh? But if you have occupants- better yet- if you have occupants that are locked into, let's say a 1-yr lease, then at least you know you'll have a steady income for 1-yr to pay expenses associated w/ your property. A lot of owners try to lure potential occupants into signing lease by giving them discounts or cheaper monthly rent. If they only want to do month-to-month the monthly rent is usually much higher- because it's riskier as they can leave next month if they want to. |
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Shofix
|
You can, some places allow month-to-month, and actually find it advantageous to do so when the rental market is very hot.
However, leases allow the management company some stability, since their goal is to generate steady cash flow not necessarily to optimize the amount they make. If a place is unrented for a month or so, it can really cut into the profitability of a property.
For instance, if you are charging $1k/mo but have to pay out $800/mo - in taxes, repairs, mortgage, and insurance - one month without a renter eats the next five months of income. |
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herekittykitty_07
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it garuntees income. they know that you will pay them X ammount every month for a year. they dont have to worry about income now because they know you will stay for a year. |
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Jacida
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The apartment owners want to be sure they always have a renter on the property, and they want notice to start advertising for tenants if they are going to have a vacant space. It costs a lot of money to have a vacant space.
But usually if you talk to the apartment management (or your landlord), you can work something out to break the lease without too much trouble. Also, if you can try to find a renter for them, they often will let you out of the lease. |
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