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.
While a short-term lease may be the best option for you, it may not be the case for the landlord. Chances are he or she would prefer to have a long-term lease, as it is a steady income and costs less for tenant screenings.
This is why in short-term leases, landlords have more bargaining power and prospective tenants will have to bargain harder or accept the trade offs such as a higher monthly rent, many restrictions on deposit return, and other additional fees.
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.
Another good idea is to tell the property owner that you are able to pay the deposit straight away, maybe even a few months rent in advance. By doing this, you may be able to drop the monthly rent.
Also, a good thing to offer when bargaining is to say you will take the place “as is”. This means that you will take on the cleaning, will not complain about anything that needs fixing up around the place, and in general, accept a lower condition of the property.
Ensure you negotiate rent and necessities such as water and heat. You do not want to be paying a separate hydro bill if it is not included, so double check that it is.
Having a letter of recommendation from your previous landlord, as well as proof of being a good credit risk will also work in your favor.
The author has been contributing articles pertaining to leases for the past three years. Furthermore, this individual likes publishing articles regarding NYC real estate subjects, such as Roosevelt Island apartment buildings along with East Village apartments.
