If you’re a backpacker from around the world or an exchange student who stays in Hanoi for a few months, renting a house for a short time can make sense. However, business professionals (sometimes with their families) who come here to assign work may prefer a place to call home for extended stays. When referring to a long-term lease, the term is usually 2 years or longer. Signing a long-term lease would be more beneficial than a short-term contract in this case; How more depends on personal preferences and circumstances. Here are some tips from Alphahousing.vn why a long-term lease should be your preferred option.
Long-term contracts are perfect for those who wish to position themselves firmly in a specific area in Hanoi. This option will prevent you from risk of sudden movement when the property is sold to another owner or the landlord does not offer an extension. Imagine that you are a tenant of a few months in a fully occupied apartment block, surely your landlord is looking for long-term tenants. Once they find one, they may not offer you an extension contract that forces you to relocate. Going through regular hunting cycles causes frustration for busy people because it takes time and money that can be spent on other purposes. Also, the more people live with you, the more time-consuming and complex it is to move. It is a small problem if you live alone, but it may not be if you have a family of 4.
Best financial plan for a long time
This is quite practical for people traveling with their families on a trip to Hanoi. Based on the specific contract review deadline, you can forecast your costs over the next few years. Therefore, you may have an idea of how your savings and monthly income will be spent on future plans such as having a baby, sending your child to school, buying a car, etc. Even if price fluctuations can be affected by market trends, a long-term rental term still gives you a clearer picture of your financial plan not being provided by a successor. short-term plan.
For long-term tenants, the landlord is willing to compromise the terms of the contract. While you show your future involvement to a location, the unit owner can count on your stable affordability, keeping them away from late payments. They can agree to offer very attractive concessions such as additional furniture, apartment decorating rights, 1-month free rent, covered utility costs, etc. While these privileges are not impossible for short-term tenants, they may find it difficult to succeed in negotiations.
Proposing a longer term for your landlord will give you the strength to negotiate lower rental costs and increase less annually, especially in a crowded city like Hanoi. If you are a good bargainer, you can ask for a constant price for a certain period of time or even the entire contract period. In contrast, most landlords will definitely give you premium rates if your stay is less than 2 years from when they have to spend extra money to advertise apartments on the web or pay floral fees. commission for agents to find the next tenant.
Familiarity to the city
If you intend to live in Hanoi for a long time but still consider and want to experience it first, a long-term lease is a good idea. It will help you get acquainted with the area’s living environment without having to commit to it. Later, if you change your mind and decide to return to your homeland, it’s still more convenient than owning a home.
In short, there are a range of advantages of long-term leases from the perspective of both lessor and lessee. These advantages do not indicate that people should commit to long-term lease; However, it is important to understand your current situation and future plans and local markets. From those logical reasons, you can make a decision as to whether a longer contract is better for you and your family.