Short to Medium Term Rental?

Short to Medium Term Rental?

0:01 AM, 18th August 2023, About A year ago 6

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Hi everyone, I hope you’re all doing well. I’m currently looking for insights regarding short to medium-term rentals. I recently came across shortish lets, which seem to find accommodation for a few weeks to a couple of months.

If any of you have had positive experiences with other avenues of short to medium-term rentals, I’d greatly appreciate your input. I’m particularly interested in focusing on alternatives to the traditional long-term lease model. Whether it’s for business travel, relocations, or just a temporary stay.

Your firsthand experiences and recommendations would be incredibly valuable to me and others who might be in a similar situation.

Thank you so much in advance for your help and advice. Looking forward to hearing your thoughts!

Best regards,
Thomas


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Martin Roberts

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10:09 AM, 18th August 2023, About A year ago

Air B&B?

Judith Wordsworth

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10:29 AM, 18th August 2023, About A year ago

Lots of people do theatre digs ranging from 6 nights ( for touring actors and crews) to longer for actors and crews working on film locations.

These are not B&B, no food provided.

Ask on Facebook “Theatre Digs List “ page

NewYorkie

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11:13 AM, 18th August 2023, About A year ago

Reply to the comment left by Judith Wordsworth at 18/08/2023 - 10:29
Several neighbours regularly host theatre performers, often the same ones when panto season arrives. I had intended to holiday let my house, but have given up on the idea, so I submitted my details to my local Theatre Royal. I didn't hear back, and have now sold up.

However, there is always demand for short term accommodation while insurance claims are settled.

I currently have a lodger for £2k for 4 weeks, while I wait to complete and they wait for work to complete on their new home.

Austyn at H D Consultants

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15:42 PM, 18th August 2023, About A year ago

I like the idea of short term rental, the trouble is, mortgage lenders seem to have some issues with it. There are a few who are happy to provide, but they have other criteria to pass too.
My company Mortgages For Actors regularly encounters the Theatre digs as mentioned above, but each case has to be assessed manually so its always a bit longer to get a result. We do place them usually, but it often with the same few lenders.

With short term lets, its valuble to spend a bit of time considering the extra costs involved as well as the wear and tear.

Its likely that you will need to have cleaners in between each visit, as well as someone who can assess any damage caused. (golden if they are the same person!).

I would also suggest an agent to sort out the lettings though as it can be a much heavier workload then standard BTL.

Happy to help if needed.

DPT

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11:05 AM, 20th August 2023, About A year ago

You need to be very careful here. The law doesn't really support short lets. If you want to avoid creating an AST with all the attendant rights and administration, your options are:
1. Holiday lets. Either via Airbnb or some other operator
2. Serviced accommodation
3. Non-Assured tenancies to short term contractors whose main residence is elsewhere.

Care should be taken with all these options as there have been several cases where the tenant has challenged the purported tenancy type and a judge has awarded them AST rights.

Simon Benn

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16:10 PM, 7th April 2024, About 7 months ago

We shifted to a medium term focus a couple of years ago. Most guests are waiting for a new build to be finished or renovating. We advertise in local magazines and build relationships with local developers and estate agents.

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