What is a short-term rental?
Short-term rentals are the leasing out of a furnished home, apartment, or condo for a much shorter time than a long-term lease. Property owners of short-term leasing accommodations typically rent them out on a weekly basis when they are not using the property themselves, but some short-term rentals might be available for nightly rates as well.
What are the major differences between long-term and short-term rentals?
With a long-term rental agreement, the property owner leases their accommodation for longer periods of time (6 months or longer), usually requiring monthly payments. The occupants are often responsible for paying the monthly utility costs of the accommodation as well.
Short-term rentals are more flexible. If you move around a lot for work or any other reason, short-term rentals allow you to do so without paying costly fees to break leasing contracts. Short-term rentals are also great if you want to explore a city for the first time and aren’t sure if the city will fit your lifestyle. Many property owners prepare their accommodations for short-term renting for peak holiday seasons like New Years’ or summer break. You might find these being advertised as vacation rentals. In recent years, short-term rentals are the go-to for big sporting events like the Super Bowl or music festivals like the Electric Daisy Carnival. These tend to be much cheaper and more private than the excessively-priced hotels in the same area.
Are short-term leases more expensive than long-term leases?
As a trade-off for flexibility, short-term rentals are generally more expensive on a day-to-day basis due to costing the landlord more. They can also be more difficult to find. If you plan to stay for at least 6 months in any accommodation, it is recommended that you utilize a long-term renting plan to save money in the long run. Our Apartment Locators in Dallas/Fort Worth are able to help you find the best short-term rental that fits your needs for your budget. Give us a call at (817) 685-7368
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