Short-Term Vs. Long-Term Rental Agreements: Which Is the Best Option for You?

Hispanic couple outside home for rentThere are millions of compelling reasons why you should build a new life in California. The friendly weather, great career opportunities, fancy clubs and restaurants and awesome sandy beaches are only a few of the decisive factors that always make you pack up your bags and get the first plane to Cali. However, when it comes to renting a place in America’s most densely populated state, things tend to get a little more complicated. For starters, you would have to answer pressing questions such as: should I go for a short-term rental or a long-term rental? Does a long-term rental involve the kind of commitment and responsibilities that I may not be ready for at this point? Do short-term rentals involve greater risks than long term ones? Each and every answer to these questions will bring you closer to finding the perfect rental for you. To make a smart final call, you should start by carefully analyzing the pros and cons of both short and long-term rentals.

Discover the Pros of Short-Term Rentals

Short term rentals are well-liked by many tenants for a number of reasons. First of all, they ensure the highest level of flexibility that a prospect could ever hope to experience. One day, you could rent a house on the beach; the a few months later, you could get the keys to a gorgeous Napa Valley villa that could become the perfect home away from home for the next ten months or so. For those who love to travel extensively and don’t wish to put down roots in a specific area, short-term rentals are a clever solution stimulating tenants to broaden their horizons and maintain an active, nomadic lifestyle.  Also, for businesses seeking new properties for rent, short-term rental agreements may work best simply because they ensure an easy way out. If your new business idea were to fail, this type of lease would give you the opportunity to cut your losses and close this chapter without getting covered in debt; on the other hand, long-term rentals leave business owners on the hook for their delayed rent payments. This advantage is quite significant, considering the fact that 8 out of 10 companies close their gates within one year and a half of opening, according to recent statistics quoted by Huffington Post. Short-term rentals may not offer you the stability that long-term contracts usually provide, but they do ensure a safety net that you may appreciate when it comes to developing new business or travelling frequently.

Short-Term Rentals Also Have their Disadvantages

Lack of stability leading to frustration, a never-ending stressful and time-consuming house hunt and increased housing costs, is by far the most important drawback that tenants should take into consideration before renting a house or apartment for a short period of time.

Weigh the Pros of Long-Term Rentals

Predictability. Long-term rentals are the perfect alternative at hand for people who would like to settle down in California, but can’t actually afford to buy their own place here. In other words, long-term rentals lead to a sense of security. They help tenants discover the thrills of a predictable existence. Moreover, companies that sign short-term rental agreements could witness an increase in their real estate costs every single year. On the other hand, long-term contracts enable tenants to prevent such risks and make the most of their rental properties without spending more than they can actually afford to on rent.

Stability. Tenants who don’t really like to move around much appreciate the stability associated with a long-term rental. Unlike short-term rental agreements, long-term ones protect you from a number of unpleasant situations, like being forced out of the property that you are currently occupying, very unexpectedly and for no apparent reason. Long-term leases are perfect for people who want to turn the house that they live in into a home and prevent the stress associated with endless relocations.

Concessions. Let’s face it: long-term rentals allow you to build a solider relationship with landlords and property managers. This type of bond could help you unlock various benefits, such as rent deduction or improvement allowances. Sometimes, short-term rental agreements can offer similar advantages; however, in most cases you would have to put your negotiation skills to the test to benefit from major tenant improvements that will enhance your level of comfort and satisfaction.

Find out why Long-Term Rentals May Not Be the Best Option for You

For those who don’t really like serious commitments and hate the idea of putting down roots in one place, long-term rentals may not be the best alternative at hand.

Bottom line: both short-term and long-term rentals are options that may work for you, as a newcomer determined to upgrade your personal and/or professional life in California. At the end of the day, you should go in favor of the option that is fully compatible with your lifestyle, necessities and financial possibilities.

Identify the Most Tempting Listings with Apartment Hunterz

Now that you are familiar with the advantages and disadvantages of both short-term and long-term rentals, perhaps you feel ready to move into a new house or apartment. In this case, choose to find the most amazing Californian properties with just a little help from Apartment Hunterz. Using this premium apartment finding service you can check out thousands of regularly updated listings, compare different options in terms of location, features and price, narrow down your search by targeting houses or apartments available in your favorite neighborhoods, get in touch with property managers and landlords online, with just a few clicks, submit your applications over the Internet and schedule in-person meetings with the people who hold the key to the place that you could call your new home.

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