Renting properties out on a short let basis
Have you considered a short let?
Here, we look at the benefits of engaging a trusted estate agent such as the dedicated short let team who works with the London branches of Jackson-Stops.
Whether you’re a landlord or tenant, there are huge benefits to both letting and renting a property on a short-term basis. A short let is generally classified as lasting from just one month up to six months. Whether you’re letting your own property out or looking to rent somewhere, there are some compelling reasons why it can be best to use a trusted and reputable estate agency rather than going it alone or taking the online booking route.
I’m a landlord, why should I rent my property out on a short let basis?
You’re likely to enjoy a greater weekly rental return on your let compared with a longer-term rental
1. It can be a great way to generate rental income during void periods or whilst you’re trying to find a long-term tenant or buyer for your property
2. Companies are often looking to place professional tenants who are relocating with their new job
3. You can enjoy a premium short-term rental if you live in an area that plays host to high-profile events such as Wimbledon Tennis or international rugby
4. If you’re travelling for business or pleasure it can be a great way to keep your property occupied and secure
5. Short let rental payments are often made upfront
N.B. short term lets are subject to local authority restrictions.
A good estate agent will have met with the landlord or representative at the property to familiarise themselves with what they are marketing. This will allow them to answer any questions and to gain valuable knowledge about the property itself. Throughout the short let, agents such as Jackson-Stops can provide a full property management service to deal with any issues that may arise. Landlords should expect the rental payments to be made upfront at the start of the let; it’s also good practice for a security deposit to be taken and held securely throughout, to protect against potential damage to the property.
Amelia Redington, who heads up Jackson-Stops’ London Short Lets department, established to meet the growing demand for this type of let in London and Surrey, says: “And it’s the ability to provide this level of flexibility that appears key to successful short lets, which are set to continue rising in popularity with landlords and tenants alike”.
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