Short-term leasing of furnished apartments is becoming a popular trend these days. The short-term lease gives the tenant the benefit of vacating the premises as per his convenience or extending the lease if required.
What is a furnished apartment?
It is an apartment which comes with all the basic furniture. It has an equipped kitchen with a cook-top, microwave, refrigerator, etc. The kitchen also has the required utensils, cutlery, etc. In addition, this type of accommodation has a washer, dryer, etc. Some apartments provide cleaning services.
People who need apartments for short-term rentals are:
- Individuals who are staying in a rented accommodation and are laid off. Such people look for a furnished apartment for a short-term. This enables them to be located in the same area and look for new opportunities.
- When someone needs to move to another city for a short assignment. He/ She will prefer to stay in a furnished accommodation rather than a hotel.
- Many tourists are preferring apartments to hotels.
- If one has moved to a new city, then one might use a furnished apartment till they find a home of their choice.
- When one is shifting home or getting their house renovated, they will prefer a furnished accommodation to a hotel.
Benefits of a furnished apartment on short-term rental:
- It is like a home away from home. It is apt for weekly, monthly or even six-monthly stays.
- It is cheaper than a hotel.
- For families, it is a better option as more space is available.
- These accommodations have separate living rooms, kitchens, and bedrooms. This gives professionals on assignments, enough space to relax and work comfortably.
- If the people staying in the apartment have guests, they can be easily accommodated at no extra charges.
- This type of accommodation gives the guests more privacy.
Drawbacks of a furnished apartment on short-term rental:
- The owner generally charges a higher amount for a short-term lease when compared to a long-term lease.
- If the tenant needs to renew the contract, the owner can change the rent and the terms and conditions of the contract as per his will.
- Most furnished apartments are booked online after viewing the pictures. Many a time, this can be misleading. When the guests arrive and do not find the accommodation up to their expectation, it is very difficult for them to find other options.
As we can see the benefits outweigh the drawbacks. Also, these drawbacks can be managed to an extent. The tenant can negotiate the rent and the terms of the contract. The reliability of the pictures and the apartment can also be cross-checked.