When leasing a property, individuals have two options to choose from, either to rent long term or rent short term.
Both choices have its advantages and disadvantages depending on the set-up and preferences of the tenant.
A short-term rental offers more flexibility to the tenant compared to the long-term lease since the individual is not tied to an agreement for a long time and can change locations faster.
This is ideal for people who work in a job that has a regular relocation every year such as trainers, store managers that has a regular revolving management programs in various places.
Short-term leasing also gives the landlord flexibility in terms of increasing rent and evicting a problem tenant.
It allows the landlord to change the terms of rental agreement regularly and more frequently.
However, that does not usually mean that he or she can change the terms during the lease term.
It just means that it can be modified once the duration is completed.
Also, a short-term leasing is harder to find and usually requires a higher security deposit as it translate to more frequent turn-over rate and advertising efforts.
Depending on how long the unit has been up for rent, any landlord will choose a tenant seeking for a long-term rental over an individual who prefers a short-term lease.
A long-term leasing agreement provides a more stable agreement between landlord and tenant.
Long-term leasing is usually given at a lower rate than short-term which allows the renter to save money in the long run since the landlord cannot increase the rent rate before the contract ends.
Long-term leasing translates to lower turnover rate, fewer vacancies, less advertising efforts and less damage on the property.
Because of these advantages, most landlords require a minimum security deposit compared to a short-term leasing.
Regardless, landlords tend to require this for any period of time as there is always a chance that something could go wrong at any time.
Long-term leasing is ideal for individuals or couples with a stable job who would like to eventually own a place of their own.
Renting long-term is much cheaper than renting short-term, allowing individuals to work on an expected daily budget which makes saving much easier.
Whatever option you choose, make sure that all agreements are put into paper and that both parties secure a copy.
Ensure that responsibilities of both parties are addressed and understood to avoid any arguments in the future.
Both choices have its advantages and disadvantages depending on the set-up and preferences of the tenant.
A short-term rental offers more flexibility to the tenant compared to the long-term lease since the individual is not tied to an agreement for a long time and can change locations faster.
This is ideal for people who work in a job that has a regular relocation every year such as trainers, store managers that has a regular revolving management programs in various places.
Short-term leasing also gives the landlord flexibility in terms of increasing rent and evicting a problem tenant.
It allows the landlord to change the terms of rental agreement regularly and more frequently.
However, that does not usually mean that he or she can change the terms during the lease term.
It just means that it can be modified once the duration is completed.
Also, a short-term leasing is harder to find and usually requires a higher security deposit as it translate to more frequent turn-over rate and advertising efforts.
Depending on how long the unit has been up for rent, any landlord will choose a tenant seeking for a long-term rental over an individual who prefers a short-term lease.
A long-term leasing agreement provides a more stable agreement between landlord and tenant.
Long-term leasing is usually given at a lower rate than short-term which allows the renter to save money in the long run since the landlord cannot increase the rent rate before the contract ends.
Long-term leasing translates to lower turnover rate, fewer vacancies, less advertising efforts and less damage on the property.
Because of these advantages, most landlords require a minimum security deposit compared to a short-term leasing.
Regardless, landlords tend to require this for any period of time as there is always a chance that something could go wrong at any time.
Long-term leasing is ideal for individuals or couples with a stable job who would like to eventually own a place of their own.
Renting long-term is much cheaper than renting short-term, allowing individuals to work on an expected daily budget which makes saving much easier.
Whatever option you choose, make sure that all agreements are put into paper and that both parties secure a copy.
Ensure that responsibilities of both parties are addressed and understood to avoid any arguments in the future.