Friday, 6 May 2011

Short Term Apartment Rentals: To Do Or Not To Do

By Adriana Noton


There are many types of rental agreements, each with their own requirements and relevant terms. In all cases, it is necessary to carefully weigh up both the pros and cons of each option in juxtaposition with one's individual needs and service requirements while away on vacation or on business. As with any agreement, short term apartment rentals has advantages and disadvantages and whether patrons choose this option depends greatly on their personal parameters of finance, time constraints, personal preferences and living arrangements.

Frequent travelers, or "globetrotters", who are well acquainted with the operations and workings of travelling sporadically and not being at one destination for long periods of time, will usually opt for this option. In addition, families on vacation or people on business trips may find that having their own exclusive space in which to live with the option of either self-catering or catering accommodation is more appealing.

Observations show that the people who most often opt for this choice, are middle-upper class families who are homeowners and are simply in search of temporary accommodation during their holiday. Not being based in a hotel where there seems to be constant hustle and bustle, is a relief to many who prioritize their privacy.

Landlords who rent out apartments on these terms, are knowledgeable about the needs and requirements of these kinds of renters and therefore equip the apartments with all the required amenities. Many include high-speed wireless internet, satellite television and entertainment systems as well as kitchen appliances and facilities for laundry, to provide all that is needed for a brief but comfortable stay.

Some renters may find it important that they are allowed to adapt and assimilate themselves into the town and city's natural everyday processes. This is made possible by renting their own apartments where they can experience the inner city and its inhabitants at their own pace, instead of being over-compensated for as tourists in a hotel or similar accommodation option. It creates a more relaxed, informal environment whether on holiday or on a business trip.

Perhaps the most prevalent disadvantage of this kind of renting is its higher cost. Generally, it costs more than longer term options, for many reasons. The large turnover of occupants means a larger amount of expenditure on advertising, marketing and administration. Also, due to higher volumes of people, the over all, "wear-and-tear", of the apartment and the resulting mandatory maintenance costs may all lead to an increase in the rental amount itself.

To the contrary, many find that it is in fact a cheaper option. This obviously depends greatly on the income bracket into which the client falls. Renting may be significantly cheaper than high-end hotels which have a large amount of amenities that are often not utilized due to time constraints.

Renters who tend to steer clear of long periods of contractual obligation, may prefer opting for Toronto short term rental , with its high degree of flexibility and the basic essentials for a comfortable stay. Others may find that bed and breakfasts and more standard accommodation is much cheaper in relation. In all cases, it depends greatly on the traveler's personal priorities as well as their preferred class of accommodation.




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