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term lease typically refers to a rental lease that is less than six months. The most common shortterm leases are three months and monthtomonth. More often, you'll see shortterm lease options available in markets and neighborhoods where demand is high but supply is limited.
You can still break the lease by paying all the rent due for the remaining lease term. Under Michigan law, you only need to pay the amount the landlord loses, in the event of breaking the lease. No matter what your reason for leaving is, landlords must make reasonable efforts to re-rent the unit.
In London, most rental properties will have Assured Shorthold Tenancies (ASTs). There are two types: Periodic Tenancies, which run week by week or month by month. Fixed-term Tenancies, which are usually 6-12 month contracts with an optional break clause in the middle.
Share. A short-term lease is a rental contract that generally lasts less than six months, where a typical apartment lease will usually be a year.
There are legal reasons where you can break your lease without penalty, including:The landlord has violated your privacy or harassed your family.The landlord turned off your utilities.The unit violates Michigan Health or Safety codes.You are being put on active duty as a member of uniformed services.More items...
term lease generally refers to a lease that is either monthtomonth, for three months or anything up to six months, while a longterm lease is anything longer than six months.
A 6 month lease is typically the shortest period of time unless you search really hard. Are short term car leases more expensive?
In general, you can only end the tenancy early if your landlord agrees. Your landlord does not necessarily have to do so. You will remain responsible for paying the rent until the end of the tenancy contract or the next break clause point.
Most standard leases are for a period of one year, or twelve months. But there are often options for both longer-term and shorter-term leases.
Conditions for Legally Breaking a Lease in MichiganEarly Termination Clause.Active Military Duty.Unit is Uninhabitable.Landlord Harassment or Privacy Violation.Domestic Violence.Senior Citizen or Health Issue.