Looking for a place to live but need flexibility? If you can’t commit to one apartment for a full year, whether because of a job or because you can work remotely from anywhere, a short-term lease might be the best option for you.
Lease duration can vary significantly, and with many companies now offering work-from-home options to their employees, short-term leases—leases shorter than six months—are becoming more available, making your apartment search much more limitless.
What is a short-term lease?
Leases or rental agreements can last anywhere from one week to several years. Typically, a standard lease lasts one year. A short-term lease is, generally speaking, any rental agreement that lasts fewer than six months.
You can renew a short-term lease on a weekly or monthly basis, with month-to-month rental agreements being the most common. Depending on the property owner’s willingness to negotiate, you might also be able to specify your own lease duration.
What are the pros of a short-term lease?
The primary draw of short-term agreements is flexibility. With a shorter contract, renters can find great housing in many circumstances, such as:
- Searching for a job in a new area and need a temporary place to stay
- Moving for a temporary work assignment
- Taking an extended vacation
- Moving to a new area and need time to find a house, apartment, or property that meets your long-term needs
- Temporary housing in between long-term leases
- Needing to move out at a moment’s notice
What are the cons of a short-term lease?
Short-term leases can come at a cost. With this type of lease, landlords or property managers can:
- Charge more for rent, so you could end up spending more money than you would have on a longer lease
- Have more opportunity to change contract terms (security deposits, pets, etc.) on each renewal
While landlords are usually obliged to give advance notice of rent adjustments, the laws that govern the length of advance notice vary depending on the state and city in which the property resides.
How to find a short-term rental
Finding the perfect short-term rental that fits your needs and preferences requires careful research and consideration. Follow these steps to successfully find a suitable short-term rental:
- Define your requirements
Determine your specific needs and preferences. Consider factors such as location, budget, desired amenities, duration of stay, and the type of property (apartment, house, furnished rental).
- Start your search online
Use online rental platforms and specialized short-term rental websites, to search for available options. Filter your search based on location, price range, and other relevant criteria.
- Check local listings
Explore local classifieds, community bulletin boards, and real estate websites for short-term rental listings. Some landlords and property managers may not list on national platforms, so local listings can provide hidden gems.
- Network and ask for recommendations
Ask friends, colleagues, and acquaintances if they know of any available short-term rentals. Word-of-mouth recommendations can lead you to reliable and trusted options.
- Read reviews and ratings
When you find potential short-term rentals, read reviews and ratings from previous renters. This can provide insights into the property’s condition, amenities, and the landlord’s responsiveness.
- Contact landlords/owners
Once you’ve shortlisted potential rentals, reach out to landlords or property owners. Inquire about availability, lease terms, included amenities, and any specific requirements you have.
- Schedule viewings
If possible, schedule viewings of the short-listed properties. This gives you a chance to see the space in person, ask questions, and assess whether it meets your needs.
- Review lease terms
Carefully review the lease agreement before signing. Pay attention to rent, security deposit, lease duration, rules and regulations, and any additional costs.
- Prepare for your stay
Coordinate with the landlord regarding move-in logistics, keys, and any necessary paperwork. Pack accordingly and plan for your comfortable and enjoyable stay in your chosen short-term rental.
What to look for in a short-term rental
Whether your short-term lease is for one week or six months, it’s important to ensure you feel comfortable in your temporary living environment. Start by filtering your short-term rental search by desired amenities such as in-unit laundry, fitness center, onsite parking, private outdoor area, and more. Next, factor in the location. Will you have a car with you or will you be looking to stay in an area easily accessible by foot? Being right near the action will make it easier to find options for dining and entertainment, but could mean being located in a lively neighborhood with higher noise levels.
If you’re planning to stay in a short-term rental with your pet, you might want to consider renting a house with a yard, and will want to pay close attention to any added deposits or cleaning fees. Make a list of needs and wants prior to beginning your short-term search to ensure you find a rental that is the perfect fit.
FAQ: Short-term leases
Generally, yes. Shorter leases mean more turn-over for landlords and property management companies. To offset the cost of cleaning, more frequent vacancies, and potential wear and tear of the unit, shorter the lease lengths will mean higher rent prices.
Not exactly. Month-to-month leases last for a period of 30-days. A short-term lease can be for a 30 day period but could also be for as short as one week.
This could definitely be an option, but will ultimately be up to your landlords discretion. Some property management companies will provide short-term lease options with the renewal letter at the end of your long-term lease. These can be anywhere from six months to three months, or month-to-month.Again, keep in mind that the rent price for a shorter lease length will likely be higher than your monthly rate for a 12 month lease.
A short-term lease has a shorter duration compared to a long-term lease, which usually lasts for a year or more. Short-term leases are ideal for individuals who need temporary housing, such as students, professionals on short assignments, or those in transition.
Short-term leases offer flexibility, allowing renters to avoid long commitments. They’re suitable for those who require temporary accommodations, want to test a new location, or are uncertain about their future plans. Additionally, short-term leases may have a higher monthly rent, but the overall cost might be lower due to the shorter stay.
Some short-term leases offer the option to renew for an additional short period. Check with your landlord to understand if renewal is possible and whether there are any terms or conditions associated with it.
The inclusion of utilities and amenities varies based on the lease agreement. Some short-term leases may include utilities, internet, and access to amenities, while others might require renters to arrange these services independently.
Negotiating terms in a short-term lease is possible, especially if you have specific needs or preferences. Discuss your requirements with the landlord or property manager to see if any adjustments can be made to the lease terms.
Final thoughts
A short-term lease might be the best solution for you. Search for available apartments on Zumper to find your forever, or your for now.
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