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What are the Different Types of Short Term Rental Properties?

Tricia Christensen
By
Updated May 16, 2024
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There are many different types of short term rental properties that can fill a variety of needs for private individuals, for large parties, and for businesses. "Short term" could mean anything from day use to several months, opposed to a much rental longer term such as a year lease. Types of property are greatly varied too, and people might rent housing, office or event facilities depending on need. Fortunately there are many options.

Private individuals typically look for two or three types of short term rental properties. They might be interested in vacation rentals or they could plan a short stay somewhere and look to subletting an apartment or other residential unit for the length of several months. Theoretically, both types of rentals are often subletting, which means renting from another renter, but vacation rentals can also be obtained from landlords or property owners. People may additionally find hotels or other properties that cater to traveling executives and that have furnished living spaces for people who might need to stay somewhere for an extended period of time.

The other kinds of short term rental properties that may interest individuals are those available to hold events such as parties or weddings. These include banquet and restaurant facilities, well-groomed outdoor areas, annexes to churches, or a number of other places. Such rentals are usually only for a day or two at most and may offer event planners a plethora of additional features, like catering, places to rest or prepare for events, kitchen facilities and more.

Businesses and corporations may require short term rental properties too. Sometimes a business wants to set up an office in a remote location for a few months, and might look for office space that can be rented for a short period of time. The business might convert the rental into a longer term if it decides to maintain a more permanent presence in the location. Corporations also seek residential or commercial rentals for traveling executives.

Businesses additionally may look for facilities in which to hold events, but where it is not practical to rent those facilities all of the time. They might rent a hall or conference facility for meetings of various kinds, or they could sponsor large events that bring forth industry experts from a variety of places, and they might look for rentals of huge facilities where these events could take place. Again, rental could be for just a few days, saving the business the expense of maintaining a property year round.

Individuals and corporations that want short term rental properties should bear several things in mind when they rent. Renters should have a strong understanding regarding rental agreement, liability to subletter or landlord, and responsibilities of subletter or landlord. Renters of small properties may want to consider rental insurance, and those planning large events may want to contemplate the benefits of event insurance, while considering whether they have any special liabilities to customers or employees that use any rented property.

SmartCapitalMind is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Tricia Christensen
By Tricia Christensen
With a Literature degree from Sonoma State University and years of experience as a SmartCapitalMind contributor, Tricia Christensen is based in Northern California and brings a wealth of knowledge and passion to her writing. Her wide-ranging interests include reading, writing, medicine, art, film, history, politics, ethics, and religion, all of which she incorporates into her informative articles. Tricia is currently working on her first novel.
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Tricia Christensen
Tricia Christensen
With a Literature degree from Sonoma State University and years of experience as a SmartCapitalMind contributor, Tricia...
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