How Long are Short Term Rentals?
Renters who want the flexibility to move apartments within a calendar year might consider a short term lease as their best bet. Why? Because many of the apartments offering a short term lease in Chicago ask for a commitment of less than 12 months. Common short term leases will advertise lease terms of 9 months, 6 months or 3 months. Finding short term rentals for as few as 30 days is less common, but it’s not impossible. Many apartment landlords and property managers would prefer their short term apartments have a tenant commit to at least 3 months in a given short term lease so they don’t have to turn around and re-list the apartment in a short timespan.
How Do I Find Short Term Furnished Rentals in Chicago?
Short term furnished rentals in Chicago are available among the apartment listings. Furnished short term rentals are a common leasing option among Chicago’s co-living communities, wherein renters lease their individual room (typically with their own private ensuite bathroom) but the common spaces are shared among other renters. The common spaces in co-living communities almost always come fully furnished. Some co-living communities even come fully stocked with cleaning supplies or cleaning services.
What’s the Difference Between Short Term Rental and a Sublease in Chicago?
Short term apartments in Chicago are different from subleases. In simplified terms, a sublease means that the original tenant, for whatever reason, cannot occupy the place they’re currently renting and they seek out a subletter who can take over the remainder of the lease term. At the end of the sublease, the subletter may have the option to renew the lease for a full term or they may not. A short term lease is usually intended to be rented by the same person for the duration of the lease -- it’s just that the lease term is shorter than most standard 12-month leases.
Are There Month to Month Short Term Rentals in Chicago?
Chicago allows month to month apartment leases. These aren't always the same as a short term lease apartments, though. The option with the most flexibility is the month-to-month lease agreement. Short term rentals in Chicago don’t always have as much flexibility, so if renters are set on finding month to month leases then they should ask the apartment landlord if they’re considering such an arrangement while negotiating the lease.