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Short-Term Apartment Rentals: What are they and when should you rent one?

 

Renting an apartment may seem like a fairly straightforward idea - find a place you like, sign a lease for a year, and move in.

 

However, there's actually more to it than just that!

 

The majority of times an apartment is rented, it's your typical scenario: an apartment is vacated, maybe renovated and repainted, awaiting its next tenant. But one of the more uncommon transactions (although it's not that uncommon at all) is the rental of short-term apartments.

 

Short-term apartment rentals typically involve fully furnished apartments with a lease that is just six months or fewer. These can sometimes even include three-month leases or month-to-month.

They are tailored to people who are moving to a new city on a short-term basis, like for the completion of a job assignment, being closer to family or simply testing out a new area.

 

When landlords rent an apartment unit on a short-term basis, they may often find themselves spending increased time getting the apartment ready for its next resident as opposed to leases that are for 12 months.

 

This can make it more difficult for a manager because there are sure to be slow periods where the unit is vacant. Although this might seem to be a con on property managers, it is undoubtedly a benefit for renters as there is no lock-in to a 12-month contract.

 

Short-term rents are ideal for those who are not certain on their future but require something a little more permanent than a hotel room.

 

These types of rental options may range from AirBnB's to local property companies, such as Balnar. While it might not be too frequent to see an apartment rental company offer these types of accommodations, Balnar offers a fully furnished short term rental at The Sprucedales in Guelph, complete with flexible lease options, multi-bedroom options, and amenities.

 

If you or someone you know might be interested in learning more about the benefits of a short-term apartment rental in Guelph, reach out to the team at Balnar to view availability or to book a viewing!