What is the value of a longer-term lease versus a short-term lease?
Most expats only live in Cambodia temporarily and are concerned about signing a long-term lease. Meanwhile, most landlords are against or more likely to not accept a short-term lease for tenants to stay for less than six months.
First of all, a long-term lease gives you greater negotiating power, because landlords are more likely to lower the rate and accommodate your requests and conditions if they know you will be there for a longer period. This means they are less likely to invest in the property, such as by making repairs or improvements to the property.
Second, a long-term lease provides you a stability and peace of mind. You will not have to worry about finding a new place after you settle down into the neighborhood or be concerned about the rent increase after your lease expires. Moreover, you can customize your apartment to your liking, which makes you feel at home away from home.
Meanwhile, for a less than six-month lease, you will find the options severely limited, and the price is often higher than the published rate, or non-negotiable. Besides, most of your requests will be likely to be rejected. On top of that, you face rent increases in a market, where the rent is only going up, despite the influx of new buildings.
However, the decision of whether or not to sign a long-term lease is a personal one. There are both pros and cons to consider, and the best option for you will depend on your individual circumstances. Click here to link with our professional team for more specific information.