There are many reasons you may want to stay in an area for some time
without fully setting down roots there. You may be on an extended
vacation, or you may be considering a move. Perhaps you need to be in a
city temporarily for work. Whatever the reason, rental properties are a
good solution, but you need to know about them before you use them. One
important aspect to rental properties is whether they are short term or
long term rentals.
What's the Difference?
As implied by the names, the main difference between both is the
length of the lease. Short term rentals usually qualify as properties
that can be rented for somewhere between a few days and a month.
Long term rentals frequently have a minimum of six months for their lease,
but the terms are shorter than for a normal apartment, since they can
often be rented month-to-month after that. Because of these differences,
each type is better suited to different purposes.
Short Term Rentals
These are usually best for vacations. These can be anything from a
weekend to a full month. You might originally think that it is
impractical to use a short term rental for a vacation of only a few
days, but that's not the case. Oftentimes, the prices for rentals can be
very comparable to or cheaper than rates for hotels, and you get a
whole property for your group rather than having to share a building
with other travelers. All in all, it's a much better deal even for short
stays.
A month may seem like a long vacation to spend in one place, but in a
city like Edmonton, there is plenty to do during a long getaway. Even
just the winter months have many different festivals and events, so if
there are several in a row that you want to participate in, it would
only make sense to make your stay a bit longer.
Long Term Rentals
If short term are perfect for vacations, long term rentals are better
when you are actually becoming a part of the city, even for a short
while. This could be a temporary reassignment at your work, or you might
be considering moving. Renting an apartment for these purposes is not
always practical. Your needs might well be less than a year, and most
apartments place heavy fines on those who leave before their year lease
is up. Sub-letting can be an option, but if you've only been in the city
for a few months, you might not know anyone to sub-let too, and not all
contracts allow it.
These allow you to stay in a city long enough to judge whether you
would like to live there or complete your work responsibilities without
pinning you into a year-long contract, and the facilities are often
nicer for comparable rates. Both short term and long term rentals can be
very enjoyable. Which you should look into depends on your individual
needs.
