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What are the Different Types of Short Term Rentals?

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  • Written By: Kelly Laura
  • Edited By: A. Joseph
  • Last Modified Date: 11 September 2016
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There are many different types of short term rentals available in the housing market, including corporate housing three types of sublets. Short term rentals are apartments or homes that rented on a short-term basis. This generally means that the housing is rented for less than 12 months, and it might be for as little as one month at a time.

Sublets probably are the most popular types of short term rentals. There are three types of sublets. The first type of sublet involves the original renter retaining his or her name on the lease and having someone else move into the rental and take over the payments. This can be fairly straightforward, and it might not require a lease agreement between the original renter and the person wishing to rent the house or apartment through a sublet.

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The second type of sublet involves the original renter having his or her name removed from the lease and having someone else take over the lease. These are rentals in which the original renter no longer wishes to reside in the apartment or house for which he or she signed a lease. These types of sublets usually require the person wishing to sublease the apartment or house to take over the lease from the original renter. Sublets often can be great deals, because the original renter wants to get out of the lease. If the original renter wants to get out of the lease badly enough, he or she might be willing to pay part of the rent or provide the security deposit for the new tenant.

The third type of sublet involves the original renter of a property renting out a room in the apartment or house to someone who is not on the original lease. In this situation, the original renter's new roommate is not on the lease. This type of sublet is not permitted in some situations, and if the property manager learned of the arrangement, the original renter or the new tenant — or both — could be evicted.

Corporate housing is another popular type of short term rental. Corporate housing involves apartments or houses being rented to businesses, corporations or individuals on a short-term basis. These short term rentals usually require only a month-to-month lease but might require a longer stay. Corporate rentals usually come furnished with furniture and appliances, and they sometimes even come with dishes and linens. Many of these rentals include utilities in the monthly rental rate.

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