What does lease mean when you are trying to rent an apt.

Question

Me and my boyfriend are looking for an apartment but I am confused on what monthly lease means, or 12 month lease. Does anyone know?

Answer 1

Seemed like the same thing to me.  Just read the contract before you sign it.  Oh yeah, also check EVERYTHING in the apartment...  

Look for roach or rat droppings.  Water damage.  Electrical grounding test.  How good the plumbing works...  etc...

Answer 2

You can either have a monthly lease or longer, which ever the landlord offers.  If you have a month to month lease (monthly) the landlord is only obligated to you for one month at a time.  Also, at the end of a month you can choose to move out if you want.  But, if you have a 12 month lease, you are obligated to stay in that apartment for 12 months.  You can't move out before 12 months.  If you do move out before 12 months, you usually have to pay a penalty or the landlord can sue you in court.

Answer 3

Monthly lease means the lease only runs for one month at a time.  With proper notice (probably 30 days) either party can terminate the lease and the landlord can raise the rent with proper notice also.  A yearly lease means the lease runs for a full year during which time neither party can terminate the lease (save for a few exceptions - stuff like eviction) but likewise the landlord cannot raise the rent during the lease term unless this is addressed in the lease.  When the year is up the parties can either sign a new lease for whatever term they agree to, or if they don't sign a new lease the tenant becomes a monthly tenant.