Short Term Property Lets Increase By 2% in Six Months

The last six months have seen the number of short-term property lets on offer in the UK rise by 2% as an increasing number of people turn to the UK private rented sector as they search for accommodation to suit to their needs.

Landlords considering the future strength of their buy-to-let property portfolios should take note of rental trends in their area and observe any shift in the preferences among people looking at suitable properties to rent. Landlords should, at all times, make sure that tenant referencing for all applicants is satisfactory and rent guarantee insurance is obtained to keep the rental cash flow constant.

Jonathan Moore, director of the flat and house sharing website, easyroommate, stated: “A short-term property let is a great way for homeowners to boost their income without the long-term commitment usually associated with the average tenancy. The figures demonstrate how increasing numbers are turning on to the benefits to be had through these types of tenancy, including added freedom over future options.”

While house and flat share periods tend to last for an average of around one year, people who opt for short-term lets may find they can sign up from anywhere between one week and six months, suggesting the approach might be favoured by Buy To Let landlords looking to fill rental voids.