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What is a Short Let?
Short Lets are fully furnished properties that can be let out from a few weeks up to six months. Short Lets typically achieve between 40 and 50% more in rent compared to a long let.
You can Short Let any property from a studio in Kensington to a country house in Buckinghamshire. Short Lets are intended to be a home from home for our occupants, so it is expected that all bills are included too.
I'm looking for a long term tenant so why should I Short Let my property?
Many of our clients choose to market their property for both short and long term lets at the same time and wait to see which offer comes first. If the Short Let offer comes first they benefit in two ways; firstly they get to take advantage of the increased rental yield and cash upfront. Secondly, as we have viewing rights throughout the Short Let, they get more time to choose the best possible tenant for the long let. Additionally, during quieter times of the year Short Lets are a great way to plug void periods and maintain rental yields.
What are the key differences between short and long lets?
|Long Let||Short Let|
|Duration||6months+||A few weeks up to 6 months|
|Contract||AST||Short Let Agreement|
|Deposit||6 weeks||2 or 4 weeks|
|Rent Paid||Monthly||All up front|
|References||Full references||Visas and passports checked|
|Utilities||Covered by tenant||Covered by landlord|
What do I need to provide/include in a Short Let?
Ask yourself; “Could someone turn up with just their suitcase and groceries and live in my property for a month?” This means you will need to provide two sets of linen for each bed, two sets of towels for each intended occupant, cutlery, crockery, cleaning products and detergents, etc. The property needs to be fully furnished and all bills including internet
need to be covered too.