FINDING A SHORT TERM LEASE
When you are looking into renting you may have trouble finding holiday rental apartment leases that go for a short period of time. The most common lease will be for 12 months or one year. What this means is that you need to guarantee that you will reside in the same place and pay rent for a period of one year. For many people, this is too hard to do, especially if you do not have a secure job or are unsure of if you plan on staying around for the full year. There are short term lease options available but you just need to know where to go to find them.
Short Term Apartment Leases
A short term lease will generally run from 3 to 6 months. In most instances, you can expect the rental price per month to be more expensive when you are renting on a short term basis than if you are renting for 12 months. For example, you may need to pay $350 per month on a 6 month lease but only $300 per month for the same place on a 12 month lease. The reason is because you are only providing your landlord with a guarantee of income for a shorter period of time.
There are many landlords that actually prefer to work on short term leases as, as mentioned above, it does mean more money. However, it also means that they will need to find new tenants more often and that there may be more issues involved with people coming and going all the time. Short term leases also tend to be furnished as many travelers or people new to the area looking to lease for a short time do not have a lot of furniture just yet anyway.
It is a lot easier to find an apartment that can be leased for three months than a house. Furthermore, you can expect larger complexes with an onsite manager to also be more likely to offer short term leases. This is because there is someone working full time to ensure that the rental apartment is booked at all times. When looking to rent a house, often the investment will just be a second income for the homeowner, not a full time job and thus he will not have the time to find new tenants every three months.
Weekly Hotel Rates
Another option you have when looking into a short term lease is to look for holiday accommodation. Many self contained suits, motels and even hotels will offer cheaper weekly and monthly rates, depending on where you live. This may not seem too affordable but if you are only planning on sticking around for one month or if you are in the middle of renting and buying, then living in a self contained unit for a month is going to be better than signing a long term lease and having to break it a few weeks down the road.
If you are unsure of your plans, then it is always best to either book a weekly rate at a motel or look for a short term lease. Breaking a lease because you are unsure of what you want to do is only going to hurt you in the end and could involve legal repercussions. Finding a short term lease is all about keeping your options open. Ask a realtor for assistance if looking for short term apartments or contact various self contained and holiday rentals in the area to get quotes. This will help you see what is out there and explore your options fully.