Making a realistic balloon

I am trying to make a balloon with a rope whose one end sticks to the balloon and one end sticks to a moving object; when the objects moves, it drags the rope with it and the rope will drag the balloon - it should look real. Now I created the balloon using Blender; the problem is the rope. It seems that making a physics rope in Unity is not an easy task (I tried Hinge join but it does not really work). Do you have any idea ?

  1. Make few parts of rope and connect it using physic joints.
    2.Use cloth renderer.
    There are a lot of tutorials about these components.