Finding a new rental property to call home is one challenge, finding one with flexible leasing options is an entirely separate challenge renters often face in the various markets across the United States. Some property management groups may stand by a flat 12-month term and that is it, while others may offer something exclusive such as month-to-month terms. Depending on your personal situation, this could be a very critical deal maker or breaker.
Why is this so important? For example, many working individuals across the U.S. move around with their respected industry and may reside in a city for 3 months and then transfer to their next stop. This is nothing new for property management groups, so being flexible is quite important. If a flat 12-month option is all that is presented, there is great potential for client loss. When we provide prospective tenants with short-term options, they or their employers are more willing and happier to rent with us.
What does Q4 Real Estate offer prospective tenants for leasing terms? Great question! Our team offers 3-12-month leasing terms. Outside of the situation we previously presented, we have also had countless families impacted by the Derecho Storm in Iowa on August 10th of this year. Homes were damaged and even destroyed by this unprecedented storm. Being able to provide short-term leases for individuals and families has been extremely helpful for prospective tenants because they may very well not require a 12-month lease while their home is being repaired. Another great reason for having short-term leasing options outside of work transitions and storm damage, would be the fact that someone is not locked in long-term. This provides some significant comfort. What do we mean by this? From time to time, residents may rent temporarily, while looking for the right home to purchase, the long-term stay. By signing a 6-month lease for example, the resident has ample time to look for a home, put in an offer, and purchase right on time for lease expiration. Of course, we would love to provide luxury rental leasing long-term for everyone but respect every resident’s unique plans.
What else should someone know about short-term leasing? When renting short-term with Q4 Real Estate, short-term premiums are applied. For a 3-5-month term, there is a $200 premium in addition to the base rent. For a 6-11-month term, there is a $100 premium in addition to the base rent. This provides benefits for both sides doing business, while still offering a luxury rental for you and yours.
Maybe an annual 12-month lease is what you desire long-term or maybe you are in Cedar Rapids for 3 months and will move on after. Either way, property management groups and incoming residents benefit from flexible options. We are happy to work with you; if you have questions in the future when you are looking for a modern rental in the area, you can always rely on Q4.
*photo courtesy of metronest.com*
