{"id":1833,"date":"2022-09-16T16:33:59","date_gmt":"2022-09-16T16:33:59","guid":{"rendered":"https:\/\/junehomes.com\/blog\/?p=1833"},"modified":"2024-02-26T12:28:28","modified_gmt":"2024-02-26T12:28:28","slug":"why-short-term-leases-are-the-future-of-renting","status":"publish","type":"post","link":"https:\/\/junehomes.com\/blog\/2022\/09\/16\/why-short-term-leases-are-the-future-of-renting\/","title":{"rendered":"How the Short Term Rental Market is Shaping the Future of Renting"},"content":{"rendered":"\n<p>Twelve months is the standard minimum period for a rental apartment lease in New York and most other cities. However, demand for short-term leases has increased as more people have embraced the &#8220;work from anywhere&#8221; model since the pandemic\u2019s start.&nbsp;<\/p>\n\n\n\n<p>In response, property owners and investors have realized that offering <a href=\"https:\/\/junehomes.com\/blog\/2021\/12\/01\/short-term-rentals-vs-long-term-rentals-benefits-and-challenges-for-owners\/\" target=\"_blank\" rel=\"noreferrer noopener\">short-term rental leases<\/a> can increase profits and turnover. Here are the societal changes and benefits motivating homeowners to rent their units out on a short-term basis.&nbsp;<\/p>\n\n\n\n<h2 class=\"has-x-large-font-size wp-block-heading\" id=\"h-the-rise-of-work-from-anywhere-culture\">The Rise of &nbsp;\u201cWork from Anywhere\u201d Culture&nbsp;<\/h2>\n\n\n\n<p>Advancements in personal technology and digital connectivity enable us to stay connected no matter where we are. The pandemic lockdowns provided a global opportunity for people and organizations to embrace <a href=\"https:\/\/hbr.org\/2020\/11\/our-work-from-anywhere-future\" target=\"_blank\" rel=\"noreferrer noopener\">work-from-anywhere<\/a> culture and work-from-home models.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full has-custom-border\"><img fetchpriority=\"high\" decoding=\"async\" width=\"640\" height=\"480\" src=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2022\/09\/collov-home-design-UUsQk_9bdR8-unsplash.jpg\" alt=\"A home office with a green wall, suitable for working from home. The image is related to an article on how the short-term rental market is shaping the future of renting.\" class=\"wp-image-1884\" style=\"border-radius:4px\" srcset=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2022\/09\/collov-home-design-UUsQk_9bdR8-unsplash.jpg 640w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2022\/09\/collov-home-design-UUsQk_9bdR8-unsplash-300x225.jpg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/figure>\n\n\n\n<p>As a result, many people discovered that they do not necessarily need to work with their colleagues in offices to be productive. Through collaborative platforms, social platforms, and strong internet connections, businesses, colleagues, students, and families remained connected despite not traveling to meet physically.&nbsp;<\/p>\n\n\n\n<p class=\"has-text-align-center\"><em>June takes a global approach to work &#8211; literally. Click <a href=\"http:\/\/linkedin.com\/posts\/june-homes_june-around-the-world-activity-6962854918789414912-LTeN?utm_source=share&amp;utm_medium=member_desktop\">here<\/a> for a peek at our team working hard from different cities around the world<\/em><\/p>\n\n\n\n<p>For individuals, the ability to work from anywhere has numerous benefits:<\/p>\n\n\n\n<ul class=\"has-tertiary-background-color has-background wp-block-list\">\n<li>The<strong> freedom to travel<\/strong> and live in different locations worldwide while still working. Soon, younger generations won&#8217;t know a different working world.<\/li>\n\n\n\n<li>The <strong>opportunity to live with spouses and family members<\/strong> even if they are constantly required to move. For example, people with military spouses can pursue lasting careers despite relocating with them frequently.<\/li>\n\n\n\n<li><strong>Better quality of life and work-life balance.<\/strong> WFA workers have more time to spend with their families and at home or access to a peaceful environment for higher productivity. Less commuting in traffic has also proved to reduce stress.&nbsp;&nbsp;<\/li>\n\n\n\n<li><strong>Lower cost of living. <\/strong>People are no longer cornered into more costly rentals to be closer to work.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>So, what does the rise of the work-from-home\/ work-from-anywhere culture have to do with short-term leases? While more people embrace WFH and WFA, fewer people want or need to live in the exact location for more than 12 months. For example, the average digital nomad or WFA spouse with a <a href=\"https:\/\/junehomes.com\/military-housing\" target=\"_blank\" rel=\"noopener\">military<\/a> partner needs a flexible lease that enables them to live in a place for less than 12 months and extend their lease if necessary.&nbsp;<\/p>\n\n\n\n<p>WFA culture also supports the rising <a href=\"https:\/\/www.business-standard.com\/article\/economy-policy\/remote-working-to-boost-hybrid-workforce-gig-economy-in-2021-study-121010900550_1.html\" target=\"_blank\" rel=\"noreferrer noopener\">gig economy<\/a> and online freelancing, where individuals work on short-term contracts from home as independent contractors. Proof of income for such individuals may vary since there isn&#8217;t a consistent salary at the end of the month. This is often a requirement for more traditional, long-term lease agreements.&nbsp;<\/p>\n\n\n\n<h2 class=\"has-x-large-font-size wp-block-heading\" id=\"h-no-strings-attached-housing\">No-Strings-Attached Housing&nbsp;<\/h2>\n\n\n\n<figure class=\"wp-block-image size-full has-custom-border\"><img decoding=\"async\" width=\"640\" height=\"427\" src=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2022\/09\/pawel-szvmanski-hJJAlxnECOo-unsplash.jpg\" alt=\"A beautiful woman wearing sunglasses walking on the street. The image depicts a person in an urban setting and may be used to illustrate concepts related to fashion, lifestyle, or travel.\" class=\"wp-image-1882\" style=\"border-radius:4px\" srcset=\"https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2022\/09\/pawel-szvmanski-hJJAlxnECOo-unsplash.jpg 640w, https:\/\/junehomes.com\/blog\/wp-content\/uploads\/2022\/09\/pawel-szvmanski-hJJAlxnECOo-unsplash-300x200.jpg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/figure>\n\n\n\n<p>With remote work here to stay, investors and landlords can <a href=\"https:\/\/junehomes.com\/blog\/2021\/10\/08\/5-ways-to-make-more-money-from-rental-properties\/\" target=\"_blank\" rel=\"noreferrer noopener\">reap massive profits<\/a> by providing quality housing with flexible short-term leases. Turnkey apartments without long-term commitments are appealing, affordable, and easier for the modern WFA renter.&nbsp;<\/p>\n\n\n\n<p>No-strings-attached housing reduces high broker fees charged on long-term leases. For example, the average <a href=\"https:\/\/www.nytimes.com\/2021\/05\/27\/nyregion\/broker-fees-real-estate.html\" target=\"_blank\" rel=\"noreferrer noopener\">broker fee<\/a> in New York is 10 to 15% of the annual lease amount. Before a renter can access an apartment, they must pay a broker fee on top of the security deposit, first month&#8217;s rent, and other moving expenses.&nbsp;<\/p>\n\n\n\n<p>The renter pays the broker fee regardless of whether the broker helped them find the housing unit and sign the lease. This fee is a barrier to affordable housing for renters. The result is vacant spaces, lower income, and zero profits for landlords and investors.&nbsp;<\/p>\n\n\n\n<h2 class=\"has-text-align-left has-x-large-font-size wp-block-heading\" id=\"h-the-june-model\">The June Model&nbsp;<\/h2>\n\n\n\n<p><a href=\"https:\/\/junehomes.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">June<\/a> partners with landlords and connects them with tenants looking for short-term leases. According to Founder and CEO Daniel Mishin, the average length of leases pre-pandemic was nine months. That number has since dropped to <a href=\"https:\/\/nypost.com\/2021\/10\/14\/startups-help-work-from-home-renters-land-short-term-leases\/\" target=\"_blank\" rel=\"noreferrer noopener\">five months<\/a>. Many renters are looking for short-term leases, and June helps landlords find them. Here are some of the other benefits of working with June as a <a href=\"https:\/\/junehomes.com\/property-owners\" target=\"_blank\" rel=\"noreferrer noopener\">property owner<\/a>:&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"has-large-font-size wp-block-heading\" id=\"h-lower-repair-costs\">Lower repair costs<\/h2>\n\n\n\n<p>June performs quick upgrades to properties at no out-of-pocket costs to owners. All houses get new paint, a contemporary design, and furnishing per the tenant&#8217;s wishes. Short-term renters also do not tend to make massive adjustments to homes. Most houses are usually pristine by the time the short-term renter leaves.<\/p>\n\n\n\n<h2 class=\"has-text-align-left has-large-font-size wp-block-heading\" id=\"h-compete-with-giants\">Compete with giants&nbsp;&nbsp;<\/h2>\n\n\n\n<p>June&#8217;s professional real-estate team renovates and markets mom-and-pop properties, helping them compete with larger investment and real estate firms with more resources. June also offers a platform where landlords can track how their property performs, rent collections, and other tenant information.&nbsp;<\/p>\n\n\n\n<h2 class=\"has-large-font-size wp-block-heading\" id=\"h-reduced-labor\">Reduced labor&nbsp;&nbsp;<\/h2>\n\n\n\n<p>June takes responsibilities off the landlords&#8217; hands, such as rent collection, accounting for the property, and property maintenance.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"has-large-font-size wp-block-heading\" id=\"h-dynamic-pricing\">Dynamic pricing&nbsp;<\/h2>\n\n\n\n<p>June&#8217;s <a href=\"https:\/\/junehomes.com\/faq#general-8\" target=\"_blank\" rel=\"noreferrer noopener\">dynamic pricing model<\/a> helps owners optimize gains from their property. Owners can adjust prices depending on market performance, and renters can also estimate the cost of rent depending on the duration of their stay. In addition, owners can offer add-ons such as furnishing and cleaning services at an extra cost.&nbsp;<\/p>\n\n\n\n<h2 class=\"has-large-font-size wp-block-heading\" id=\"h-high-quality-vetted-renters\">High-quality, vetted renters&nbsp;<\/h2>\n\n\n\n<p>With June, owners have access to hundreds of pre-qualified renters who fit the requirements to rent responsibly. All tenants go through thorough background, criminal, and credit checks. Renters also sign a contract of strict but reasonable rules to abide by.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<p class=\"has-text-align-center\"><em>Tune into advice from June CEO Dan Mishin on which traditional property management methods to leave in the past below.&nbsp;<\/em><\/p>\n\n\n\n<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/22914638\/height\/480\/theme\/custom\/thumbnail\/yes\/direction\/backward\/render-playlist\/no\/custom-color\/87A93A\/\" height=\"120\" width=\"100%\" scrolling=\"no\" allowfullscreen=\"\" webkitallowfullscreen=\"\" mozallowfullscreen=\"\" oallowfullscreen=\"\" msallowfullscreen=\"\"><\/iframe>\n<\/div>\n\n\n\n<h4 class=\"has-large-font-size wp-block-heading\" id=\"h-eliminated-broker-fees\">Eliminated broker fees&nbsp;<\/h4>\n\n\n\n<p>High broker fees are a barrier to quality tenants and fast turnaround times. June does not charge a broker&#8217;s or service fee, encouraging renters to take up apartments quicker.&nbsp;<\/p>\n\n\n\n<h4 class=\"has-large-font-size wp-block-heading\" id=\"h-test-with-a-single-unit\">Test with a single unit&nbsp;<\/h4>\n\n\n\n<p>Committing all your properties to short-term leases may seem risky at first. Fortunately, June has no unit minimum, and owners can start with one apartment to test results and find the way forward.<\/p>\n\n\n\n<p>When renting is easier, more people rent. Do you have a unit you&#8217;re trying to fill? Make it easier for someone to rent it by renting it out on a short-term lease with June. Reach out to June and step into the future of rentals.<\/p>\n\n\n\n<div style=\"height:5px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div style=\"height:\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button aligncenter has-custom-font-size is-style-fill has-small-font-size\"><a class=\"wp-block-button__link has-base-color has-text-color has-background wp-element-button\" href=\"https:\/\/junehomes.com\/property-owners\" style=\"border-radius:10px;background-color:#ea6638\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>GET A QUOTE<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<h4 class=\"has-x-large-font-size wp-block-heading\" id=\"h-more-in-owner-market\" style=\"font-style:normal;font-weight:400\">More in Owner Market<\/h4>\n\n\n<ul class=\"wp-block-latest-posts__list has-dates wp-block-latest-posts\"><li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/junehomes.com\/blog\/2025\/12\/29\/ai-apartment-hunting-tools-and-platforms\/\">AI apartment Hunting Tools and Platforms<\/a><time datetime=\"2025-12-29T11:36:09+00:00\" class=\"wp-block-latest-posts__post-date\">December 29, 2025<\/time><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/junehomes.com\/blog\/2025\/12\/26\/how-ai-powered-apartment-search-tools-work\/\">How AI-Powered Apartment Search Tools Work<\/a><time datetime=\"2025-12-26T13:37:31+00:00\" class=\"wp-block-latest-posts__post-date\">December 26, 2025<\/time><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/junehomes.com\/blog\/2025\/10\/07\/month-to-month-lease\/\">Month-to-Month Leases: All You Need to Know<\/a><time datetime=\"2025-10-07T13:35:14+00:00\" class=\"wp-block-latest-posts__post-date\">October 7, 2025<\/time><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/junehomes.com\/blog\/2025\/09\/25\/trends-in-real-estate\/\">Key Trends in Real Estate in 2025<\/a><time datetime=\"2025-09-25T12:29:00+00:00\" class=\"wp-block-latest-posts__post-date\">September 25, 2025<\/time><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/junehomes.com\/blog\/2025\/09\/24\/make-more-money-from-rental-properties\/\">10 Ways To Make More Money From Rental Properties<\/a><time datetime=\"2025-09-24T14:07:04+00:00\" class=\"wp-block-latest-posts__post-date\">September 24, 2025<\/time><\/li>\n<\/ul><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>With work-from-anywhere culture and the gig economy on the rise, property owners have new motivation to offer renters short-term leases.<\/p>\n","protected":false},"author":1,"featured_media":9522,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","footnotes":""},"categories":[99],"tags":[187],"class_list":["post-1833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-owners","tag-short-term-rentals"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.0 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How the Short Term Rental Market is Shaping the Future of Renting<\/title>\n<meta name=\"description\" content=\"With work-from-anywhere culture and the gig economy on the rise, property owners have new motivation to offer renters short-term leases.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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