I'm considering renting an apartment next year. I'm a college undergrad and have never done so before. Advice?

If you are having problems with basics like lease arrangements, you seriously need to hire a lawyer or you may find yourself in trouble down the road. Most apartments will not allow you to run a business out of your apartment. This will be a violation of your rental agreement and you can be evicted.

You need a commercial space or an apartment building that allows businesses to be setup. Each lease will be written down and the terms will vary. Read the agreement carefully.

Better still, spend a bit of money and have a lawyer look at it. How long the lease is depends on how long you sign for. Some are year, some are longer.

If you lease for 5 years and go out of business in 2 years, you still have to finish the lease. The building owner doesn't care if you lose the business or not, that's not his concern and many will be hard nosed about this. Don't sign up for a long term lease if you can avoid it.

His only concern is getting paid. Any early lease termination penalties will be stated in the lease. Again it varies by company.

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