Short Let Guide for Landlords
Short-term rentals can be attractive for both landlords and tenants. This is because they often provide a higher rental return and can be extended quickly and easily. However, short-term lets are often associated with increased periods of empty properties which is why it is recommended you weigh up your options and decide carefully.
A short-term let may be desirable to a landlord who is not as reliant on consistent monthly income or who has a property empty for just a short while, between longer term lets for example.
Short-term rentals usually attract tenants such as:
Tourists: some prefer a more homely place to stay, especially if they are in the area for multiple weeks or months.
Professionals: working professionals may decide to source temporary accommodation instead of spending money on hotels.
Corporate rentals: some companies prefer to move their staff into temporary rental accommodation if they are working for a set term away from home.
People who are new to the area: prospective homeowners new to Surrey may prefer to rent for a short while to get a feel for the location without the commitment of a long-term let.
Existent homeowners who require temporary accommodation: sometimes, if a home is having building work carried out on it, families decide to move into temporary rented accommodation.
Short lets are often more appealing to tenants because they are provided furnished and stocked with cutlery, glassware, and other amenities that make the move process as minimal as possible. Utility bills are usually included to make short-term lets more beneficial than attempting to source local hotels.
Surrey attracts business from around the world making short-term lets a popular rental choice. With the city located only a short drive from London, most properties don’t experience empty periods and instead face competition from groups of tenants.
For more information, contact Chesworths today.