The benefits of having a fixed term lease for a rental property, rather than a month-to-month (also known as periodic) arrangement, vary with your perspective. Those aspects which are positive for the landlord are generally less desirable for the tenant.
In the following Infographic, we'll take a look from the landlord's perspective at the top reasons why a fixed term lease is usually preferred:
The ideal arrangement will depend on your circumstances and should be discussed with your property manager. A periodic arrangement may be more suitable if you require flexibility to end the tenancy should you be considering selling or moving back into the property, for example.
However, if you have no such plans and would like greater peace of mind and control over your investment, a fixed term lease offers greater stability and security.
To discuss what option is best for you, contact the Property Management team at Raine & Horne HM Group on 02 9439 3488.