Term lease will likely be anywhere from 3 to 6 months. If you are a short-term rental host, you are required to register with the Mayor's Office of Special Enforcement (OSE) per Local Law 18.The increase in remote workers created a demand for shortterm apartment companies. We tested out three of them and reported back. Shortterm rentals are only permitted if you are staying in the same unit or apartment as your guests, and you have no more than two paying guests at a time. Is a rental agreement that lasts for less than one year. Term lease lasts for six months or less. Download a short-term (vacation) rental agreement to create a temporary lease for guests remaining at your vacation rental for a short stay. However, the owner may not raise the rent during the initial term of the lease. You can rent your home or a room in it for fewer than 30 days at a time.