UAE: Which is better for your rental budget, a short term or a long term lease?

uae term short lease rental
UAE
  • Date: 01-Jul-2021
  • Source: Gulf News
  • Sector: Economy
  • Country: UAE
  • Who else needs to know?

UAE: Which is better for your rental budget, a short term or a long term lease?

Dubai: For many people who are new to the UAE, and new to renting in general, the idea of committing too little or too much money on a contract, be it a short- or a long-term lease, can be a major stressor. While a short-term rental lease typically refers to a contract that is less than six months to a year, a long-term rental lease is anything longer than that. Once a long-term lease is signed, there is very little wiggle room to get out of the contract should unforeseen circumstances arise. However, a short-term leases may have the flexibility you desire but comes with a heavier price tag. Long-term leases are paid monthly or quarterly, whereas short-term leases are generally pre-paid. Coming up with this much cash up front may not be an issue if your short-term is for a few months. On the other hand, if your short-term is closer to let's say nine months or more, the pre-paid sum can add up. Your bank account may dictate whether short-term can be viable option. If a long-term contract can't be committed to, a short-term commitment may be for you. Why would you want short-term rental if you may

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