Short term lets are often cited as an excellent way to earn money from a buy-to-let or another type of property investment. As a potential landlord, you will want to have at least a decent working knowledge of the process. What, for example, is a short term let and what are the advantages and disadvantages of such an arrangement? Before approaching a letting agents office for help and advice, take some time to acquaint yourself with the process so that you know if the agent you choose is offering you a good service for a reasonable price. In this blog post, I will take a look at short term lets as an investment opportunity in further detail to give you a better understanding.
What To Expect When Using Letting Agents For Short-Term Rentals
A short term let is letting out a property for a period of a few days or weeks to a few months. The length and type of short-term let you can offer ar
A potential drawback of this type of let is many agents and potential tenants expect all short term lets to be offered fully furnished which, of course, increases costs incurred before any rental income can be earned. They also expect the rent to include all the normal bills, council tax, utilities, etc. with the possible exception of telecommunication services. On the plus side, short
Advantages Of Offering Short Let Accommodation
Other advantages for landlords of short term letting are efficiency and choice. If you are letting an investment property, returns from short lets can often be higher than for long lets. The converse is, of course, that you are less able to guarantee continuous occupancy and therefore income. If you are letting you own property, perhaps because you will be away for an extended period of time, then a short term let will ensure that your property is occupied and less of a target for vandalism or burglars whilst bringing in rental income.
Short let accommodation is popular with a wide range of potential tenants. Many large companies use short lets, as they are often more cost effective and convenient than using hotels. Other frequent users of short-term
Hopefully, you now have a better understanding of short term letting and the benefits associated with it, as well as the risks. This is definitely something that all landlords should consider. While it may not be for everyone, doing a bit of research and digging deeper certainly won’t hurt.
DISCLOSURE – This is a collaborative post.