Short-term rentals have been used for decades by business travelers as a way to live in an area without having to sign a full lease. These types of rentals are becoming increasingly popular as a primary form of housing for people who have not decided to stay in a particular city or neighborhood. They are even being used more by people who are taking long vacations. There are a number of benefits for people who are living in a short-term rental.
The most basic benefit is flexibility. The lease that is signed for a short-term rental could be for anywhere between a few days and a few months. This allows a tenant to leave after a very short period of time without paying any penalties or fees. This means that a particular building or neighborhood can be explored thoroughly before committing to a long-term lease. Short-term rentals make it easier to handle uncertain situations as well since a change in employment or other circumstances will not result in breaking a multi-year lease.
Property managers perform regular maintenance and upgrades on short-term rentals far more often than what occurs with a long-term rental. This is because the space is cleaned and repairs are made after each tenant leaves. This could occur dozens of time in a single year. The result is that appliances, walls and floors will be better maintained than what might be available in a more traditional apartment. Additionally, a superintendent is usually more attentive to the immediate needs of a person living in a short-term rental because of the limited amount of time the space will be occupied. This generally results in a better living situation as opposed to a long-term rental where repairs could take weeks to perform.
Many short-term rentals are furnished because the lease does not last long enough to warrant moving furniture into the space. This is a major benefit for people who are considering moving into an area or who will only be staying for a single season. This reduces the cost of moving between apartments and makes the entire process less stressful. Furnished short-term rentals generally contain all of the furniture and amenities that are necessary to live comfortably. Some locations even offer Internet access, basic housewares and a laundry facility so that tenants have access to everything that is needed.
A short-term rental has a number of features that actually makes renting this type of space less expensive than some other housing options. The cost of rent is normally less than what is charged by nightly hotels in certain cities. A furnished space does not require hiring a moving company. Most short-term rentals also do not require tenants to pay for basic utilities like electricity so that monthly expenses are reduced. Responsible residents will save money on security deposits because the length of the lease does not provide enough time for the normal wear and tear that some property management companies charge for at the end of a multi-year tenancy.