A short-term lease is usually one that has a duration of about six months, but will generally cover any rental agreement that is shorter than twelve months. Cases where people would want to rent short term include those who are on a long term vacation and prefer to stay in an apartment or house instead of hotel, companies renting for their expatriate employees, or people who are in the process selling and buying their houses.
In general, many landlords do not prefer short-term leases. Aside from not having the security of steady source of income that long-term rentals provide, renting for shorter terms translate to higher costs in terms of tenant screening and the risk of having more vacancy periods. It also costs higher in terms of the demands on their time since they will be showing the property and meeting with tenants more frequently.
Because of this, often the property owner has the upper hand when it comes to negotiating, and often the potential occupants will have to give a number of allowances such as higher rent, larger deposits, and more conditions on the lease.
To do this effectively, you should take a few things in mind. Always remember that a location with higher vacancy rates means more bargaining flexibility. You can use this as a reason for the landlord to negotiate.
In order to really get the landlord to bend to your will, explain to him or her that you can move in immediately, and that you will provide him or her with two months of rent immediately. This will certainly make the landlord more flexibility in terms of monthly rent.
Another negotiating tip is to offer to rent a property as is. Renting “as is” means that you will be taking care of cleaning, accept a non-working appliance, and other issues that the landlord will usually take care of before renting the space out to new tenants.
You also need to be aware that when bargaining, you need to assess whether you will be given the same facilities and utilities as long-term leases. These things may include a parking spot for your car, water and garbage collection.
Lastly, have a good credit rating and letter of recommendation from a landlord you once lived under. These simple and effective tactics will ensure you win not just the negotiating battle, but the short-term lease war.
This individual has been blogging pertaining to apartment rentals for the last six years. Moreover, this writer likes publishing articles regarding New York real estate subjects, such as Roosevelt Island apartments along with East Village apartments.
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