No matter what we buy, legitimacy is something we cannot overlook!
And this becomes incredibly important when it comes to choosing short term rentals in Chicago!
The short-term rental (STR) market has grown unprecedentedly over the last decade. Be it a professional, family, or group of friends, everyone prefers STR for their short-term stay.
Short-term rental properties are regulated by many cities and municipalities. When a property owner makes money from a home or a rental unit, they must get an STR permit or short-term rental permit.
Are you excited to check whether your short-term rentals in Chicago are genuine or not?
Before diving into the tips, let’s discuss what it exactly means!
What are Short-Term Rentals?
A short-term rental is an apartment with a lease that is less than the standard 12-month lease. Short-term rentals are typically used as a stopgap for tenants who do not want to sign a long-term contract.
Three or six months is a common lease period for short-term leases. Month-to-month flats, for example, have even shorter lease lengths.
5 Tips to Choose a Legitimate Short-Term Rental in Chicago
Listed below are the tips to consider when choosing a credible short term rental unit.
1. Consider Inside and Outside photos of the House.
You wouldn’t buy a house without seeing pictures of it, and you wouldn’t go on a date with someone from a dating site who didn’t have any photos on their profile. When looking for a short-term rental, use the same criteria.
2. Check Out the Property in Person
In many short-term rental scams, images that don’t match the genuine property are included in the marketing. Other times, the property does not correspond to the address listed in the advertisement.
Because many short-term tenants pay for a rental home online before seeing it, you may be disappointed if you arrive at a place that doesn’t exist. Because incorrect contact information is frequently provided, it is often impossible to trace down the fraudster.
It may be impossible to inspect a rental home in person depending on your circumstances. It’s for this reason that you should hire a trustworthy realtor or broker for your short-term rentals in Chicago. Before you put a deposit down, at the very least, have a trusted friend who lives in the area check it out for you.
3. Make Contact with the Current Proprietor.
Finding out why a short-term rental has become easily available is always fascinating.
If the current owner cannot provide a reasonable explanation, this is a red signal. If you can’t even get in touch with the owner over the phone to ask inquiries, that’s an even greater red flag!
This is considerably easy to check out if the property owners are a professional company. Some even have an office or a mall within the structure.
4. Trust Your Inner Voice
When it comes to recognizing a short-term rental scam, your intuition is often the greatest guide. Trust your instincts if you get a terrible vibe at any time during the rental process… They’re usually correct!
It’s challenging enough to find a decent short-term rental that suits your needs without having to worry about getting duped!
5. Maintain the Security of Your Funds.
Make sure your rental contract is signed in writing before sending any money. This not only safeguards you but also prevents you from working with a shady landlord or property owner. Also, while sending money, utilize a secure payment system. If this isn’t a possibility, pay using a credit card rather than a cheque or a cash transfer.
That’s a wrap up to the tips to choose credible short-term rentals in Chicago.
Following these guidelines can help you avoid becoming a victim of a scam that could end up costing you a lot of money in the long run.