Finding a new rental home in Arlington requires important decisions. One crucial choice is deciding between a short-term and a long-term rental. Given that each renter’s circumstances are unique, no one-size-fits-all solution exists. It’s a matter of weighing the pros and cons of each lease type and selecting the one that fits your needs best, allowing you to shape your living situation.
Pros and Cons of a Short-Term Rental
Short-term rental agreements are usually for six months or less. A typical short-term rental is a month-to-month agreement, with the contract renewing monthly. Yet, there is a wide range of short-term rentals, some with weekly terms. Short-term leases are perfect for renters needing flexibility. Usually, they let you stay for a short period or move out quickly if your circumstances change. Short-term rentals often include internet and utilities, although this can vary.
However, there are some disadvantages to short-term leases. Since the lease renews frequently, landlords can more often raise rent, update policies, or change lease terms. Short-term rentals tend to be more expensive than long-term ones, particularly in high-demand areas. Near popular vacation areas or college towns, there’s more competition for short-term rentals, often raising rates.
Pros and Cons of a Long-Term Rental
Picking a long-term rental helps you easily avoid the cons of a short-term lease. And there are plenty of advantages to opting for a long-term rental. The typical lease length for long-term rentals is one year, but in some areas, leases can extend for several years. Long-term rentals offer renters more stability in terms of monthly rates and lease agreements. Once you sign a long-term lease, the terms are usually fixed. The landlord generally can’t raise rent or alter the lease until it’s time to renew. Long-term rentals are typically more affordable because leasing for longer periods is more cost-effective for landlords.
Nevertheless, long-term leases can have several drawbacks. After signing a long-term lease, breaking it can be challenging and expensive. Though terms vary, landlords typically require an extra month’s rent and forfeiture of the security deposit for early lease termination. It can make relocating to a new rental home very challenging. It can also hinder your ability to reduce housing costs if needed. Also, many long-term rentals might not offer additional services or appliances. You will typically have to cover the cost of utilities, internet, and necessary furnishings.
Equipped with a full understanding of the pros and cons of both rental types, you should carefully consider your situation and the foreseeable future. If you’re planning to stay put for a while, a long-term rental might be the ideal choice. Conversely, if you’re uncertain about where you’ll be in the future, short-term rentals are often a better choice. Regardless, knowing your options will make your decision easier and more informed.
Real Property Management Engage offers a variety of rentals in Arlington and nearby. Depending on your needs, we may have the perfect fit for you. Call us today at 214-257-0101 or check out our rental listings for more information.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
