Looking for a hassle-free route to renting your London house? Why serviced hosting could be the answer…
If you say the words ‘serviced accommodation’ to landlords or renters alike, their first thought might be of stylish city apartments aimed at professionals.
But, as Fairway Hosting’s experience shows, there’s growing interest in serviced houses for short-term lets in London.
So, whether you’re considering renting out your house or are looking for a house rental with all the details taken care of, here’s what you need to know…
A growth sector in terms of demand and rates
The demand for short-term lets in the UK has been growing since 2019, alongside strong growth rates in revenue. London also reports the highest number of reserved nights in short-term rental properties in the UK according to a June 2023 report by Visit Britain. Around two-thirds of UK short-term rentals are from domestic travellers with a third coming from abroad.
Who rents a London house as a short-term let?
The flexibility of short-term lets – as well as their cost effectiveness in comparison with hotels – means this area of the property market has wide appeal.
As well as clients looking for accommodation to support work commitments in London, many of our clients (particularly those with young families) also appreciate the comfort of being able to rent a house for longer holidays.
There is also strong demand for family homes from clients who are renovating their own properties, or who are waiting for purchases to complete. In these situations, it’s easy to understand the attraction of being able to rent for a shorter period than traditional lets of 6 or 12 months.
A flexible approach to renting that works for you and your guests
As well as offering tenants (or guests) the ability to tailor the length of their rental to suit their exact needs, short-term lets appeal to landlords who want more control and flexibility in terms of when and how often their property is rented.
As long as your house is available for a minimum of two or three months a year, Fairway Hosting is able to work with you to find the right guests at the right time, meaning you can maximise return on your property when it might be otherwise unused.
Location, location, location
One of the key distinctions between properties that are successful as short-term lets versus traditional long-term rentals is location.
As experts in the London serviced accommodation market, Fairway Hosting are perfectly placed to advise our clients on the locations of houses most likely to appeal to short-term renters.
Whether it’s proximity/accessibility to key office locations, or seasonal, cultural or sporting events such as Wimbledon, we are ready to help.
We take care of all the details
For guests visiting London for two or three weeks over the summer, to a family renting a house while their own home is renovated, there is peace of mind in knowing that the property they are renting will be well-appointed with appliances, crockery, cooking utensils, towels and linens all taken care of – this is one of the reasons that guests choose a trusted partner such as Fairway Hosting.
Likewise, concerns about managing guest changeovers, general maintenance and the admin demands of listing your house on rental sites should not put you off the advantages for short-term lets.
Our property experts are ready to advise on the suitability of your property for the serviced accommodation market, including whether you need to apply for Material Change of Use from your local authority (required for London properties that are rented out for more than 90 days per calendar year).
We can also assist with preparing your house for rental, create appealing listings for your target renters and manage the day-to-day practicalities of achieving good returns on your investment.
To find out more about our current short-term rental houses, or to speak to an expert about renting your property, contact us today.