13:53 PM, 7th June 2011, About 13 years ago 4
The Association of Residential Letting Agents (ARLA) today issued top tips for landlords who are aiming to let their properties out on a short-term basis this summer.
Short-term lets can be a great way for landlords to fill rental voids or make use of vacant properties, and usually last anywhere between one week and one month.
Short-term lets are particularly attractive in the summer, and with events like the Henley Regatta, a host of music festivals and Wimbledon coming up, now is an ideal time to think about short term lets.
Forward-looking landlords in London not only recognise these immediate opportunities but are already thinking about the likely increase in demand for next year’s Olympics.
Ian Potter, operations manager for ARLA said, “Short term lets, if managed correctly, can be a great opportunity for both tenant and landlord to benefit from a let that is simple to set up, and is suited to short periods of increased demand.”
To help landlords take advantage of these upcoming opportunities, ARLA advise tenants and landlords to follow a few, key, short-term let tips:
Ian Potter said, “If these tips are followed, it should be possible to strike a balance between remaining flexible with your rental offering and being a responsible short-term let landlord. Any potential tenants must use an agent with experience in this area – to ensure a transparent and flexible arrangement.”
“As the tenancy is unlikely to be an Assured Shorthold Tenancy, tenants will not benefit from Tenancy Deposit Protection.”
“In areas that are particularly competitive around seasonal events, it is often the small details that will allow your property to stand out from the crowd. Preparing a schedule of your property with good photographs, which can be downloaded from the internet, can be key in securing a good deal.”
Previous ArticleCourt closures could have knock on effects for landlords
Next ArticleLoophole that beats HMRC’s IHT tax grab