Skip to Content

Short-Term Rental or Long-Term Rental: What’s the Best Fit?

Small furnished short-term studio for rent.Moving into a new rental home in Orlando requires making numerous significant decisions. One of the key choices to make is whether to opt for a short-term or long-term rental. As each renter has different circumstances, there’s no one right answer. It’s important to weigh the advantages and disadvantages of each type of rental lease and choose the one that fits you best.

Pros and Cons of a Short-Term Rental

A short-term rental involves a lease agreement of six months or fewer. A typical short-term rental is a month-to-month agreement, where the lease renews each month. But short-term rentals come in many forms, including those with weekly terms.

For renters needing flexibility, a short-term lease might be perfect. They generally allow for a short stay or rapid move-out if circumstances change. Short-term rentals are more likely to include internet service and utilities, though these amenities can vary.

Still, there are some drawbacks to short-term leases. Because the lease renews so often, landlords can raise the rent and change policies or lease terms more frequently.

Short-term rentals tend to be pricier than long-term rentals, particularly in high-demand areas. If you live near a popular vacation spot or college town, you might face more competition for short-term rentals, likely raising the rates.

Pros and Cons of A Long-Term Rental

On the flip side, a long-term rental brings stability and predictability. Long-term rental leases are most often one year, but in some areas, they can be for several years.

With a long-term lease, rental rates and terms typically remain unchanged. This ensures that your landlord cannot raise the rent or alter the agreement until renewal time. Because it’s more cost-effective for landlords to lease properties for longer periods, long-term rentals are generally more affordable than short-term ones.

Nonetheless, long-term leases can have some disadvantages. Breaking a long-term lease after signing can be challenging and costly. Terms will differ, but landlords usually require an extra month’s rent and forfeiture of the security deposit to break a lease early. This can complicate relocating to a new rental home.

Additionally, it can prevent you from reducing your housing costs if needed.

It’s also important to note that many long-term rentals do not offer extra services or certain appliances. Most of the time, you’ll be responsible for the costs of utilities, internet, and necessary furnishings. Some landlords might allow subletting or finding a replacement tenant, which can help ease the financial burden of breaking a lease.

Understanding the pros and cons of both rental types allows you to carefully consider your situation and foreseeable future. If you foresee staying in one location for a while, a long-term rental might be suitable. On the other hand, if your future location is uncertain, a short-term rental might be more suitable. Regardless, understanding your options can simplify your decision.

Real Property Management Vanguard understands that each renter has unique needs. Therefore, we offer a diverse range of rentals that might suit you perfectly. Whether you seek a short-term or long-term rental, we might have options to fit your lifestyle. Contact us today at 407-681-7802 or visit 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.

The Neighborly Done Right Promise

The Neighborly Done Right Promise ® delivered by Real Property Management, a proud Neighborly company

When it comes to finding the right property manager for your investment property, you want to know that they stand behind their work and get the job done right – the first time. At Real Property Management we have the expertise, technology, and systems to manage your property the right way. We work hard to optimize your return on investment while preserving your asset and giving you peace of mind. Our highly trained and skilled team works hard so you can be sure your property's management will be Done Right.

Canada excluded. Services performed by independently owned and operated franchises.

See Full Details