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What is the downside of extending a car lease?

The residual value of the car will stay the same, meaning if you want to buy the car later, youll still have to pay the residual value despite depreciation. Extending the lease may incur fees and penalties. The longer you drive the car, the more likely it will be that it will need repairs.

Do landlords have to renew lease in California?

As the end of that term approaches, decide whether youd like to stay. You have the right to not renew your lease and no legal reason compels you to renew. At the same time, the landlord is deciding whether to renew your lease agreement. She is under no obligation to renew it, even if you are a fine tenant.

Do landlords have to renew lease in Iowa?

Yes, a lease can automatically renew in Iowa. If the tenant and the landlord agree to continue the tenancy after the lease has expired, it becomes a month-to-month tenancy (if rent is paid monthly) (IA Code 562A. 34 (2019)).

Whats the problem with a short lease?

The main risk involved with a short lease, is that it is much harder to sell on. As the lease on a property becomes shorter, the more its value declines. A property that is quickly losing value is not appealing for prospective buyers or mortgage companies.

How do you increase a short lease?

If the lease is short and you are paying under the market value of what the property would be worth with a long lease then you should pay the premium to extend the lease. If however, you are paying the current market price as if the property had a full lease then the seller should pay for the lease extension premium.

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