Sometimes, a long-term lease may become too restrictive for your taste. You might want to sign a short-term lease than committing to a whole year and be forced to find someone to sublease.
BivocalBirds is here to give you an insight into the short-term lease world. So, without further delay, let’s get started…
2. Sometimes, a long-term lease may become too restrictive for your taste. You
might want to sign a short-term lease than committing to a whole year and
be forced to find someone to sublease.
• BivocalBirds is here to give you an insight into the short-term lease world.
So, without further delay, let’s get started…
3. WHAT DID WE CALL A SHORT-TERM
LEASE?
• A short-term lease is a contract that typically refers to a rental lease of equal or
less than six months. The most common short-term lease available in the market
is three months and month-to-month.
• You will most likely find short-term lease options offered in community and
neighborhoods where demand is high while supply is limited. So, with a larger
ratio of renters than available rental units, owners in these areas have an easier
time handling renters and maintaining a positive occupancy rate.
• In short- landlords will be more willing to sign a short-term lease when there is a
rapid surge in rents and will want to seek long-term lease in times of flat or
declining rents.
4. PROS OF A SHORT-TERM LEASE
A short-term lease provides the sheer flexibility to act on the different types of
opportunities, like moving for work, family, travel, or a better house down the
street.
1. A shorter lease adds flexibility by allowing you to search for jobs that might
fall outside of your current living zone.
2. When you need to move temporarily because of some work assignment in
another city, state, or country. As shorter lease gives you more mobility.
3. When you just move to a new state or city and want to take time to search the
perfect neighborhood to settle down in. Here, a rental property with a short-
term lease will give you the chance to get to know the new city while living in
it.
5. CONS OF A SHORT-TERM LEASE
Here are few drawbacks accompany a shorter lease.
1. Normally, a landlord charge more for a short-term lease. So, you might end
up spending more in the shorter term, and even more in the long term too in
case you continue to renew the short-term lease over an extended period.
2. Your landlord will have more chances to raise the monthly rent rate more
often. So, when you sign a short-term lease and later decide to renew the
lease, there is always the possibility of a rent increment in your new lease.
3. The property owner will have more leverage to change the terms of the lease
more frequently, which might have negative implications on you.
6. DEBATING YOUR LEASE TERM
• Property owners typically prefer longer-term leases.
• So, they can rest assured for a long time that they won’t have to spend
money and time turning the unit along with potential loss of monthly
revenue if can’t fill the unit quickly.
• Ultimately, short-term leases are not cost-effective.
• This is riskier for them to present, which is why you don’t find a shorter
lease often in the rental market.
• Despite that, according to your situation, it might be a better match for
you.
7. HOW TO FIND A SHORT-TERM LEASE?
• BivocalBirds offer the choice to filter search results by lease length.
• You can look for apartments or houses that offer three-month or six-month
leasing agreements.
• We have several properties whose landlords are flexible and willing to work
with you to meet short-term lease terms.
• You might have to pay more for a flexible lease, it will well worth it if you
want to take your time in finding a new home that fits your needs perfectly.