Sumathi Narayanan Realty's Blog
If you’re making the transition from renting an apartment to buying a home, it can be difficult to ensure you have a place to stay while you search.
There are a number of reasons you may need temporary housing while house-hunting. Maybe you’re moving to a new state and need temporary housing while you search in the area. Or, maybe you just don’t want to sign a year-long lease on a new apartment that you don’t plan on staying in for a full year.
Regardless of the reason, we’ve got you covered. In this article, we’re going to talk about how to find temporary housing while you navigate your way toward homeownership.
Short-term rentals and sublets
One of the most convenient way to rent an apartment while you search for a home is to simply find short-term rentals.
Landlords use leases for a number of reasons. Among them is knowing that they can count on a tenant to stay long enough to be worth the hassle of going through the rental process.
However, there are some landlords who cater to people who need to rent for only a certain amount of time--namely business professionals and college students. Landlords rent to these people with short-term leases because they are certain that they will get the full lease amount in pay.
Similarly, searching for sublets is a good way to find an apartment on the short-term. Sublets are often cheaper than their normal renting price because the tenant needs to find someone soon. You’re especially likely to find a sublet if you plan on moving in May or June when college students are going home for the summer.
Another service that could be helpful is Airbnb. Many people think of Airbnb as a tool for finding a vacation home or spare room while traveling. However, there are also a number of short-term rentals on the site. You can simply enter the dates you’re planning on staying and compare results. Just be sure to read reviews of the house to be sure that you’re dealing with responsible and trustworthy property managers.
Words of caution
While short-term rentals can save you money while you search and help you avoid a lease, they do come with risks. For example, if renting off of Craigslist, never send sensitive data, payments, or bank account information before verifying that they are actually the manager of the property.
If you do decide to sublet an apartment, take photos when you move in so that tenants or landlords don’t try to hold you liable for any damage caused before or after you leave.
Finally, if you decide to go with a service like Airbnb or extended stay hotels because they appear cheaper than renting, remember that you won’t be able to store your belongings there and might have to pay for storage and a moving truck to transport your belongings. These extra fees can add up quickly over a couple months.
Once you’ve determined your options for temporary housing, hunting for your new home will become much easier.