“We’re seeing a new way of living that’s appealing, affordable and flexible,” added real estate appraiser Jonathan Miller. The short-term rental marketplace Leasebreak saw traffic to its site more than double with the onset of COVID, according to founder Philip Horigan. “Very few clients asked about short-term rentals pre-pandemic, but now, many more are,” Warburg Realty broker Becki Danchik said. Stefano Giovanniniīrokers and real estate experts say New York is now teeming with home hunters like Andersson, who are looking for no-strings-attached housing. App-happy millennials like Fordham grad student Gustav Andersson are shunning year-long leases amid work-from-home limbo. In contrast, startups promise renters a turnkey apartment in as little as a day (or just three hours in the case of June Homes) without a long-term commitment (NYC law sets the minimum rental period at one month).Īndersson adds that since he is a student and doesn’t have the security of a regular income, he appreciates the flexible rental terms. It took months, and I paid a lot in broker fees,” he said. “I’ve rented several apartments before, and it was always a pain to find the right one. He recently used the short-term rental company June Homes to score a room in a four-bedroom unit with a washer and dryer in Harlem late last year. Gustav Andersson, 27, who is a graduate student at Fordham, is one of those movers and shakers. They’re betting that the new “work from anywhere” lifestyle will have renters bouncing for 30-day stints. New York is a fast town - so why is your lease so long?Ī slew of Silicon Valley-backed startups are asking just that as they seek to simplify the rental process by axing annoyances like 12-month leases and broker fees. Sand dollars: Hamptons rentals are seeking record amounts this summer
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