Short-term apartment rentals can provide a convenient and flexible housing option in certain situations. If you find yourself in need of temporary accommodations and have the budget for a slightly higher cost, you don't always have to commit to a long-term lease. In this article, we will explore everything you need to know about short-term apartments, including their pros and cons, and how to find them near you.
A Guide to Short-Term Rentals
What are Short-Term Rentals?
Short-term rentals are apartments that offer lease terms shorter than the standard 12-month period. While most apartments have long-term lease options, it's worth inquiring with your prospective landlord about shorter lease lengths. These types of rentals are typically intended for individuals who prefer not to commit to a long-term lease.
Short Term Leases Explained
How Long is a Short-Term Lease?
Common lease lengths for short-term rentals range from three to six months. However, there are even shorter options available, such as month-to-month or week-to-week rentals. While long-term leases offer more stability, short-term renters often prioritize flexibility, which comes at a slightly higher price.
What are the Pros and Cons of Short-Term Rentals?
Short-term rentals have their advantages and disadvantages, so it's important to weigh them before making a decision.
Advantages of Short-Term Apartment Rentals
Some benefits of short-term rentals include added flexibility, the opportunity to explore a new area safely, and the convenience of renting a fully furnished apartment.
- Added Flexibility: Short-term lease agreements allow you to move after a few months without incurring extra fees associated with breaking a long-term lease.
- Explore a New Area: If you're relocating to a new state or city, short-term rentals give you a chance to familiarize yourself with the area before committing to a long-term rental. It also allows you to search for jobs and attend interviews in person.
- Furnished Apartments: Short-term rentals often come fully furnished, saving you the hassle of moving furniture when you move in and out.
The Benefits of Short-Term Apartments
Disadvantages of Short-Term Apartment Rentals
Consider the following disadvantages before deciding on a short-term rental:
- More Expensive: Short-term rentals typically have higher monthly rent compared to long-term leases. Landlords need to offset the loss of 12 months of rent and the time required to find a new tenant when a short-term lease ends.
- Harder to Find: Short-term leases are more challenging to find as they are less lucrative for landlords and require more effort. Allocate enough time to secure a short-term rental before your move.
- Moving More Often: Shorter lease terms mean more frequent moves, which can be costly and stressful. Additionally, you'll need to search for a new apartment each time.
- Credit Impact: Renting multiple short-term rentals within a short period can negatively impact your credit score due to multiple hard inquiries.
The Drawbacks of Short-Term Apartments
Legal Requirements for Short-Term Apartment Rentals
Short-term apartment rentals have similar legal requirements to any other rental, with the lease duration being the key difference. You may be expected to pay a higher rate for a shorter lease, and some landlords may waive the standard credit check for short-term leases. It's essential to familiarize yourself with the legal obligations specific to your rental agreement.
How Do I Find Short-Term Rentals Near Me?
How to Find Short-Term Rentals
Finding short-term rentals near you is made easy with Apartment List. When setting up your renter profile, you can specify the duration of the lease you're looking for, along with other preferences such as the number of bedrooms, bathrooms, and location. This search feature allows you to find apartments that meet your specific requirements in terms of lease length.
Additionally, you can directly inquire with apartment leasing offices or landlords about short-term lease options if you have a specific complex in mind.
How Do I Find Short-Term Rentals That Allow Pets?
When using Apartment List to search for apartments, you can filter for both short-term rentals and pet-friendly options. You have the flexibility to choose between "Dogs" and "Cats" as your preferred pet, and you can update these preferences in your profile at any time.
Find a Short-Term Rental That's Perfect for You
Life is unpredictable, and sometimes committing to a long-term lease isn't the best option. Short-term rentals can provide the flexibility you need in your living situation. However, it's crucial to ensure that your budget can accommodate the higher cost of short-term rentals. Preparing for your search and presenting a strong case to prospective landlords can increase your chances of securing a short-term rental that suits your needs.
To start your short-term rental search, take our quiz and find the perfect rental for you!
Frequently Asked Questions
How Long Can You Stay in a Short-Term Rental?
The length of your stay in a short-term rental depends on the lease agreement. If you have a fixed-term lease, such as 1, 3, or 6 months, you typically stay for the specified duration. For month-to-month rentals, the lease will renew each month until either you or your landlord decides to terminate the agreement.
What is a Short-Term Rental in NYC?
In New York City, a short-term rental refers to lease agreements that are fewer than 30 days. Landlords who wish to rent their properties for periods shorter than 30 days through platforms like VRBO or Airbnb must register with the Office of Special Enforcement.
Is 3 Months Considered Short-Term?
Yes, any lease that is less than 12 months is considered short-term. A 3-month lease is a common option for those seeking short-term rentals. Other popular short-term lease lengths include 1, 6, and 9 months.
How Do I Get a Refund for a Short-Term Apartment Rental?
In most cases, it is not possible to receive a refund after signing a lease agreement, unless you booked through platforms like VRBO or Airbnb, which may offer refund policies. However, if you are unable to use your rented apartment due to damages or other issues that were the landlord's responsibility, you may be able to take legal action to recover your rent.
