4 Strategies to Get a Lower Rate on Short Term Rentals

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There are many reasons why you may have decided that signing a short-term lease on furnished apartments is a great idea for you to consider. Perhaps you are getting back on your feet after a significant life event, or you may only plan to be in town for a few months or less on business. Regardless of whether you are impacted by these or other situations, you do not want to pay more than necessary to get the apartment that you desire. If you are looking for strategies to get a lower rate on short term rentals, follow these money-saving tips.

1. Sign a Longer Lease

Many apartment communities offer a range of lease term options. With furnished apartments available with shorter terms, you may find term lengths as short as one to two months. Many communities, however, charge a premium for a shorter lease. If you are willing and able to sign a lease that is even a few months longer, your monthly rate may decline substantially. You can ask the leasing agent for more information about rates for various term lengths.

2. Negotiate

Many people believe that the rental rate requested by an apartment community is not adjustable. However, some communities that offer furnished apartments are actually willing to negotiate with you. This may be easier to do if the complex has multiple vacancies. If there is only one vacancy and high demand in the market, the complex may not be willing to budge on the asking price. Research supply and demand before attempting to negotiate the rate.

3. Be Flexible With Your Location

A location that is desirable to you is likely desirable to other people. Apartment complex managers understand the benefits that their community offers, and they may charge a premium for it. If you are willing to veer slightly outside of your desired range or perimeter, you may find that the furnished apartments in the area are much more affordable for your budget.

4. Look for Fewer Amenities

Another factor that can drive up the cost of your apartment rental is the amenities available in the complex. If you plan to be in town or to live in a specific community for a few months, you may be able to muddle through without access to a pool, a fitness center or other onsite amenities. Remember that communities with more amenities may charge a premium.

Short term rentals are ideal for many situations, but they can also be more expensive that long-term rentals. This is even more true when you are shopping for furnished units. If your goal is to save as much money as possible on your rental, consider adopting each of these strategies for maximum savings.

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