Florida Real Estate 101: Short Term Leases
Nishad Khan PL is a law firm of Orlando real estate attorneys who want to help you succeed. There are some important factors to consider when leasing a property for the short term and we want to guide you through them.
It is important to note that the price that you pay for rent is often reflective of the cost of living in the area. When you are there for the short term, it can be easy to forget that rent may add up. A good rule of thumb is, generally, the longer the rental term, the better the rental rate. So, when you are leasing a property for the short term, keep in mind that you will probably have to pay more than you would if you are leasing the property for long term.
It might seem unnecessary, but renter’s insurance can save your wallet if there is a fire or other natural disaster. Consider the risk of the area where you are staying. For example, Florida is prone to hurricanes, tropical storms and windstorms, which may result in considerable damage to personal property. Given this, procuring renters insurance may be helpful in ensuring that you are properly protected.
Quality of Property Leased
It is good to note the importance of the value that you get in exchange for a given price. Ask for a tour of the rental accommodations before putting money down. For example, you may be able to detect a strange smell in the bathroom and decide to seek another property to lease elsewhere, which will prevent you from wasting your money.
A good web tool to go to check the local crime rate is Crime Mapping. Although data is not available for all areas, this or another tool that should provide a reasonable picture of what you can expect near the property for rent. Obviously, a low price might mean the crime rate is dangerously high so make a point to do your research.