Many residents, especially single professionals, choose to rent apartments on a short-term basis in order to avoid the hassle of a contract. Others prefer annual contracts because it gives them a sense of settlement and stability. propertyfinder examines the pros and cons of renting short-term and long-term!
Long-term rentals are properties for rent which are leased on yearly basis. Usually, an annual contract is signed between the tenant and the landlord/owner of the property.
- Lower prices and financial consistency
- A right to customize- it usually comes unfurnished giving you the opportunity to choose the furniture of your choice
- Financial commitment
- Inability to easily change homes
- Furnishing expenses
What did you say?
“When I first moved to Dubai I tried living in a furnished apartment which was paid for on monthly basis. It works for someone who’s new in the city and wants to explore their options. However, it becomes difficult to feel at home when even the furniture is not yours, so I guess once someone decides to settle in the UAE they find long-term rentals a lot more comfortable.”
– Jane, 38.
Short-term rentals are rentals either leased monthly or even weekly. Usually paid on monthly basis, these include furnished hotel apartments and short-term holiday homes.
- Utility bills included in monthly rent
- Doesn’t require financial commitment
- Cleaning services usually included
- More expensive
- Constantly moving; such kind of rentals are never a forever solution
- Tenant will have to pay for damaged furniture
- Not as many options
- There’s always the possibility of a rent increase
- Ads, descriptions, reviews are sometimes misleading
- Furnished- based on somebody else’s taste
What did you say?
“I am aware that short term rentals cost more on the long run, however, I find it cheaper to pay slightly more on monthly basis and save on utilities and registration fees which long-term rentals include.”
– Sarah, 29.