7 Reasons Why You Should Short Let

When it comes to maximising the income from your residential investments, traditional long-term leases are not the only option. At Fairway Hosting, we specialise in flexible letting and serviced accommodation, providing a fully managed letting service for both individuals and companies. Whether you have a single property, an apartment block, or a larger portfolio, short letting can be a highly advantageous strategy. Here are some specific reasons why you should consider short letting:

1. Void Filling for Developers and Investors

For developers and investors working on redevelopment projects, void periods can be a significant financial burden. When you’re in the process of obtaining planning permission or waiting to start construction, your properties can sit empty for 6-12 months or even longer. By opting for short letting, you can fill these void periods and generate income, and potentially fund part of your development project.

2. Flexibility During Property Sales

If you’re looking to sell your flat but have already moved out, leaving it vacant for an extended period can be costly and unproductive. Short letting offers a flexible alternative, allowing you to generate income while keeping the property available for potential buyers. Instead of leaving your flat empty for months while waiting for the right buyer, you can:

●       Generate income to cover mortgage payments and bills

●       Keep the property occupied, deterring potential security issues

●       Maintain the property in "lived-in" condition, making it more appealing to potential buyers

This approach ensures you can continue earning rental income until the sale is finalised, making your investment work for you throughout the sales process.

3. Maximising Income Potential

Short lets generally command higher rental rates compared to long-term leases. This premium can significantly boost your rental income, particularly in high-demand areas such as London. By renting out your property on a short-term basis, you can capitalise on peak seasons and special events, further enhancing your revenue.

4. Flexibility and Control

Short letting offers unparalleled flexibility and control over your property. You can adjust rental periods to suit your personal or investment plans, ensuring that the property is available when you need it. This flexibility is ideal for landlords who may need to use the property themselves at certain times of the year or who want to keep their options open for potential long-term tenants or buyers.

5. Lower Risk of Tenant Issues

Short-term tenants are typically less likely to cause significant damage or engage in activities that could devalue your property. The frequent turnover of guests ensures that any issues are quickly identified and addressed, maintaining the property’s condition. Moreover, with our fully managed letting service, we handle all the logistics, from guest vetting to property maintenance, giving you peace of mind.

6. Meeting Market Demand

There is a growing demand for short-term accommodation, especially in a bustling city like London. Tourists, business travellers, and individuals relocating for work often seek out short-let options. Many companies require short-term accommodation for employees on temporary assignments or relocations. By offering your property for short lets, you can tap into this lucrative market, often securing higher rates and more reliable tenants.

7. Testing the Market

For those considering entauge demand, understand the responsibilities of being a landlord, and decide if it's the right lonering the rental market, short lets provide an excellent opportunity to test the waters. You can gg-term strategy for you.

Conclusion

With professional management services such as Fairway Hosting available, you can enjoy the benefits of short letting without the day-to-day hassles. These services handle everything from marketing and bookings to cleaning and maintenance, making it a truly passive income stream.

In conclusion, short letting offers a flexible, potentially lucrative option for property owners in London. Whether you're looking to fill a void during development, bridge a gap during a sale, or simply maximise your rental yield, short lets can provide the solution you need. With the right strategy and management, it can be an excellent way to make the most of your property investment.

Ready to explore the potential of short letting? Contact us today to learn more about our services and how we can help you maximise your residential investments.