Whilst hunting around for rental accommodation in Southampton recently I notice more and more adverts for “short term lets Southampton” or “Southampton short term apartments to let”.
This is not something I had considered and wondered what, if any, the benefits are of short term lettings for both the landlord and the tenant? Is it something that would even fit my requirements? Here is what I found out:
What is a short term let?
A short let property is one which can be let from as little as a few weeks or months and up to one year.
The size of the property doesn’t really matter, it can be anything from a studio flat to a 10 bedroom house.
The properties are usually best suited to professional people, students and companies. They are offered fully furnished with all bills, excluding telephone, included in the rental price.
What are the Landlord benefits of short term letting?
Short term letting gives the property owner flexibility, particularly if you have not decided on the long-term plans for the property in question.
A short term let is also a good option for filling the gap between tenants whilst searching for a new long term arrangement. It means that the property will still be making money instead of sitting empty.
The different styles of letting offer a landlord choice. The property can be marketed at both long and short term tenants with the option to choose from the offers received.
The short term letting of a property could also be a good option for a homeowner who is going away on business or for a long holiday. It is a very efficient way of for your property to make money for you, as well as it being occupied for security reasons.
Companies often choose houses or apartments on a short let basis for their clients, seconded employees or contractors, keeping them close at hand and minimising the disruption to their family lives.
What are the Tenant benefits of short term letting?
With short term letting all utility bills are included in the rental price.
Short term lets come fully furnished with all appliances, soft furnishings and household items such as towels, linen, cutlery and crockery. Consumables are the only thing that the tenant will need to pay for.
Don’t want to leave? The tenancy will be extendable on a weekly or monthly basis depending on the details of your contract and at the landlord’s discretion.
Home from home. Unlike a hotel room, you will have all the creature comforts of your own home with space to relax and with the luxury of your own front door.
Many short-term letting arrangements also include a service arrangement too. So no need to worry about the cleaning either.
A short term let is ideal if you are thinking of moving to a new area, or you have a new job position that is on a trial basis. Take out a short term letting agreement before making any long term commitments.
Town or Country offer short term lets in Southampton, in beautifully furnished, serviced apartments. They are certainly going to be my first line of enquiry.
Have you ever had any dealing with short term lettings? How well did it work for you? Chat about it with us in the comments.