CrimeaPRESS reports:
It is believed that renting an apartment for a long time is more profitable. But is it? Of course, a lot depends on the region. Thus, renting housing in southern resort towns or in the capital of the country — short-term or long-term — will in any case be more expensive than rent an apartment for a long time, say, in Irkutsk. Here, for an amount that in Sochi would not be enough even for a small family, you can rent a two-room apartment in a new building in a good area. Which, by the way, is what freelancers use, “not tied” to places of work, which means they have the opportunity to choose the city in which they will live as comfortably as possible. Both from an infrastructure and financial point of view. Irkutsk, by the way, is at the top among such requests.
In general, if we talk about the benefits of long-term rent, we can note the following points:
- saving money: Long-term rentals typically come with lower rents than short-term rentals such as weekly or monthly rentals. This allows you to save significant money over a long period.
- fixed costs: With a long-term lease, an agreement is signed, which usually sets out the terms and rent. This means that the rental rate remains constant throughout the term of the contract, and the monthly rate reviews that are common with short-term rentals can be avoided.
- greater stability and comfort: As a rule, you can settle into housing as if you were in your own home.
- there is an opportunity to negotiate about additional conditions: such as renovation, furnishing or other home improvements. Of course, if you have a good relationship with the owner of the apartment or house.
- less inconvenience: The same moves associated with short-term rentals can be expensive and inconvenient. That is, no travel = saving both time and money. Well, and nerves, of course.
An apartment for a long term lease — what should it be like?
When considering an apartment for long-term rental, there are several important criteria to consider. Some of them:
- location: The location of the apartment plays an important role. Choose an apartment that is located in an area that is convenient in terms of work, education, public transport, shopping and other amenities. This will allow you to save on solving everyday problems, even if the housing itself will be more expensive than in the outskirts.
- condition of the apartment. It is worth assessing whether repairs are needed and taking into account the cost. The better the condition of the apartment, the less additional costs will be required for repairs and furnishings.
- rent price: It should be compared with market prices in the area.
- additional conditions and amenities: for example, the availability of furniture, household appliances, parking, Internet, and the ability to accommodate pets.
- lease contract: its conditions need to be studied thoroughly. The habit of “not reading the fine print — we are people, we must trust each other,” as practice shows, often turns into big problems. You need to pay attention to details! Including… as it seems… minor terms of the lease agreement, rules for terminating the agreement, terms of the security deposit, etc.
- public utilities: It’s worth “agreeing on the shore” and stipulating it in the contract — utilities are included in the basic payment or paid separately.
- reputation: It is worth researching the reputation of both the landlord and the management company to make sure that they are reliable and responsible.
It is also vital to have the apartment inspected before signing a lease to ensure it is up to expectations and free of major defects. “Looking into all corners” is not a shame! This is necessary if you don’t want any unpleasant surprises during your stay.
Long-term rental — what documents to request from the property owner
The list of key documents and information that should be requested when concluding a long-term lease agreement is usually as follows:
- lease contract: A correctly drawn up and signed document is the basis of a rental transaction! No verbal agreements! Even under the pretext — “He’s a good friend.” The agreement must clearly define all the terms of the lease, including rent, rental period, payment procedure for utilities and other important details.
- documents for the apartment: It is worth asking for copies of all necessary documents for the apartment, including a certificate of ownership (or other documents confirming the right to rent out the premises) and a technical passport.
- documents for the owner: We also request copies of the apartment owner’s passport. This will help verify his identity and right to rent out the property.
- TIN (Taxpayer Identification Number): this information may be required to draw up a lease agreement and mutual settlements.
- if rent and utility payments will be made by bank transfer, please request Bank details landlord.
- documents on obligations for public services: This is important in order to avoid unpleasant surprises with utility bills.
- certificate of debt status: It is necessary to request a certificate of arrears for rent and utilities to make sure that the landlord has no debt to the management company.
- inventory list: Roughly speaking, “counting” the furniture and equipment in the apartment is important. Noting, of course, her condition. To avoid possible claims in the future.
How long is a long lease?
Can we talk about years? And: the longer the rent, the cheaper? Or does this principle not work here?
Experts say: A long lease term usually means that the lease is for a longer period than standard short-term leases. That is: three months is already a long time. In most cases, of course, long-term leases cover a period of one year or more. The duration may vary depending on the agreement between the tenant and the landlord.
As for the cost of rent, usually a long one can indeed provide more favorable conditions. The principle “the longer the rent, the cheaper” may work, but this is not always the case. Rental discounts may be provided in the following cases:
- long-term contracts: Tenants with long-term leases (such as 2 years or more) can expect lower rents compared to short-term leases. This is explained simply: the owners of such apartments are more comfortable working with people on an ongoing basis, trusting them, rather than bringing in another tenant, buying… in fact… “a pig in a poke.”
- prepayment: if the tenant is willing to pay for several months rent up front, this can reduce your monthly costs.
- tax deductions: Some countries and regions offer tax breaks or deductions for tenants with long-term leases.
However, the cost of rent also depends on a number of other factors, such as location, condition of the apartment, supply and demand in the rental market in a particular area and other factors. Therefore, although long-term rentals may be cheaper compared to short-term rentals, this is not always guaranteed. It is important to conduct a comparative analysis and carefully study the terms of the contract before deciding on a long-term lease.
Well, the cost of renting housing can vary significantly in different regions of Russia. Factors that influence rental prices include economic conditions, supply and demand, standard of living, infrastructure and other factors. Here are some general observations about rental costs in different regions:
- Moscow and St. Petersburg: Russia’s capital and second largest city typically have the highest rental costs due to high demand and high living standards. Housing in city centers is usually more expensive than on the outskirts.
- major cities of the country: such as Yekaterinburg, Kazan, Nizhny Novgorod and others also have high rental costs compared to the regions.
- southern regions: such as the Krasnodar Territory and the Rostov Region may have lower rental costs, especially outside the resort areas. And, accordingly, in resort cities — Sochi, Sevastopol, Yalta, etc. — practically all year round they have “high price tags” for housing.
- Siberia and Far East: regions, such as Irkutsk and Khabarovsk, may have different “price tags” for rental housing, depending on the specific locality and its economic conditions. For example, rent in large cities in Siberia is usually more expensive than in small towns and villages.
- North: Regions with harsh climates — such as Murmansk, Arkhangelsk and Siberia — may have higher heating and utility costs, which can affect the overall rental cost.
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