Glossary Term
A fixed-term lease is a rental agreement that runs for a set period, usually six months or a year, with a defined start and end date. Both you and the landlord are generally locked into the agreed rent and terms for the entire term, and ending it early often carries penalties.
In short
A fixed-term lease is a rental agreement that runs for a set period, usually six months or a year, with a defined start and end date. Both you and the landlord are generally locked into the agreed rent and terms for the entire term, and ending it early often carries penalties.
A fixed term locks in your rent and your right to stay for the whole period, but it also commits you financially, so understanding the end date and early-exit rules protects you from surprise costs.
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Usually not mid-term, since the rent is locked for the agreed period. Increases typically only apply at renewal, unless your lease specifically allows a mid-term change.
It depends on your lease and state law. It may automatically renew, convert to month-to-month, or simply end, so check the lease for renewal and notice terms before the end date.
You can, but it often means paying fees or rent until a new tenant is found. Some states give you specific legal reasons to break a lease, so check your lease and state law.
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