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Lower Monthly Costs- Generally, long-term leases come with lower monthly rental rates compared to short-term leases. Establishing a Sense of Home- A long-term rental allows tenants to settle into a neighborhood, build relationships, and establish a sense of community in their environment.
It really depends on your situation 2 year lease gives you the stability of a good tenant, avoids vacancy and maintenance thats adds up On the other side it takes away your flexibility if you decided to sell specially at below market rent. Your rent increases sounds too low for the market.
A two year lease isnt a bad idea, and you may be able to keep the rent overall lower since the landlord will appreciate the certainty. That is assuming they werent in danger of wanting to sell the place in the near future.
Stability: Long-term tenants provide consistent rental income and reduce the risk of vacancies, which can be costly for landlords. Reduced Turnover Costs: Finding new tenants often involves costs related to advertising, screening, and potentially renovating the property. Long-term tenants minimize these expenses.
Ultimately, theres no right or wrong answer. Leasing is generally cheaper up front, but owning is cheaper long term, albeit with more frustration as the car ages. Leasing gives you more peace of mind, but owning gives you more freedom. Only you know whats right for you.
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A: Effective October 1, 2024, a lease may not require a tenant to pay a security deposit greater than the amount of one months rent. Previously, the maximum-security deposit was the equivalent of two months rent.
Effective July 23, 2024, to June 30, 2025, the CPI-U is 3.3%, so the maximum rent increase allowance is 6%. In addition to limiting rent increases, the Rent Stabilization law and regulation: specify the fees a landlord can charge a tenant and limit the amount charged to maintain affordability.

montgomery county rental lease agreement