Summer’s the time when visitors descend on London and many landlords will want to capitalise on this profitable market with a short let rental.
Not only offering tourists a “home from home” alternative to a hotel room or apartment, a short let is also a secure base for summer internship students, a practical solution for those in the process of moving house, or even a haven from major renovation work such as a home extension.
A short let is a property which can be rented from just a few weeks, up to six months. It will usually come to the market fully furnished to a high standard, with all bills included in the rent (except telephone and internet use). Our property management team can collect rent and answer any queries the tenants may have during their time at your property. One of the best attributes of a short-term service is the fact that it’s not a long commitment for either party. It can be hugely beneficial from a financial perspective, especially if you are providing tenants with a short team lease in order to fill in gaps between move dates.
Here are our top tips to help your property stand out in the summer short let market and attract these lucrative tenants:
- Welcome home - It’s all about offering a comfortable and well-furnished living space where tenants can immediately feel at home, says Duncan Blakelock, KFH’s regional lettings director in Central London. Sofas, chairs and beds should be good quality and contemporary, paintwork free of chips and scuffs and the kitchen supplied with quality white goods, cookware, matching crockery, glasses, cutlery and utensils.
We offer property maintenance and refurbishment services to help bring your property up to scratch without the stress.
- Maximise outdoor space -Tenants will want to enjoy those long summer city evenings, so tidy balconies and terraces and create bicycle storage if
- Sort out storage - Wardrobes should always have matching hangers, with red cedarwood balls for freshness and to repel moths. Hang shelves in living rooms and bedrooms, so tenants can see potential to personalise their space should they desire.
- Work at home - Corporate tenants might appreciate a small “home office” area, but don’t worry too much about internet speed. “Surprisingly, good wifi is no longer a deal-breaker, as most mobile phones now have 4G,” says Duncan Blakelock.
Our in house Corporate and Relocation Services team have access to an array of international and corporate tenants.
- Security counts - An on-site porter or concierge offers peace of mind for those unfamiliar with the capital, so if there’s one in your rental’s block, emphasise this plus-point. We take the time to research how much serviced apartments and hotels charge. While some hotels may also offer concierge services, the competitive rate of short let apartments will be a big draw for tenants and may be the reason they chose to rent your property rather than using a hotel.
- Add value – If you’re really prepared to go the extra mile - and make extra cash too, offer the option of laundry service, food delivery and a regular cleaner with your rental. This will appeal to those who want to enjoy London this summer with no responsibilities.
- Access the right market – The flexibility that comes with a short term let is great for those looking to fill void periods, and landlords who usually only take long term tenants can undoubtedly benefit from the flexibility short term tenants offer.
Our lettings team will still market your property for long lets when you have tenants on a short term basis, so not only will void periods decrease, having existing tenants installed in your property will bring your property onto a stronger market.
To find out more about letting your home, contact our London-wide network of lettings branches.