I live in the DC area a high COL area. I recently obtained a fully remote job so I want to leave the area soon. But for now, I need to stay here for a minimum of a few months. And I am considering slowly moving stuff out over the course of my stay here. I have to renew my lease right now and my options are 12-, 11-,10-,9-,8-,7-, and month to month. The 12 month is about $40 more than I am currently paying which is amazing since some people see a rate hike of $200 or so. And obviously the 12 month is the cheapest and m to m is most expensive. If I break my lease at any point, it’s a flat fee of 2 months rent. So for example, if I gave my notice in June to move out July 31, I would have to pay June, July, and 2 months rent on top.
I still have to move somewhere and for now I have no idea what to do after I move out. But I guess having more time here in DC will allow me to form my decision on what to do afterward. I just can’t figure out what the hell to do.
Month to month gives me some flexibility to move out whenever I want but the rent is so high. In total, it could be cheaper though. Or I was thinking something like a 7 month option. I really don’t want to stay for another 12 months and that 2 month penalty is just crazy
I know this is my decision and my decision alone but I am just so lost.
12 month = $1556
11 month = $1608
10 month = $1639
9 month = $1671
8 month = $1702
7 month = $1734
m to m = $1891
It looks like if I summed up the total rent price, if I stay 4,5, or 6 months is the month to month lease. For 7 months it’s the 7 month lease, for 8 months its the 8 month lease.
Essentially the 12 month is not favorable if I look at the total rent. But per month it’s the best deal.