subject: Comparing Long Term And Short Term Leases [print this page] When it comes to renting apartments, you have the option to go for a long term lease or a short term lease. Both have advantages and disadvantages. It all depends on your preference which type of agreement you will enter into. Before deciding, though, you need to know in detail what the good and bad points of both options are in order to make an informed decision.
Long term lease is the term better preferred by landlords. This is because they are ensured to have income in the long run with this type of agreement. Also, most of the time, long term lease is a lot cheaper compared to the short term one. Cheaper rent is always to the advantage of any renter.
Another advantage of long term lease is that you can plan ahead of your budget. Instead of estimating your expenses, you can allocate your income to the proper bills, such as your rent, electricity, water, phone and credit card bills. Now you know how much you can save and how much you can spend.
For short term apartment rental New York has, the advantage for the landlord is that they can charge a little extra. They can furnish it as well so they can add more charges. There are tenants willing to pay the extra cost as long as they get extra perks.
Short term apartment rental New York City has is preferred by people who will not be staying long in a certain place. This is perfect for tourists, visiting family and relatives, students and businessmen. Long term lease, meanwhile, are preferred by the residents of the city. They want a place they can stay for as long as they want, until they can save up to buy a house of their own.
Whether you want a long term lease or a short term apartment rental New York has, it is best to remember to put all agreements in writing. This way, you have proof if your landlord fails to accomplish his part. Make sure you put into writing the terms and responsibilities of both parties so that everything is black and white.
