Short Lets

Short Lets are growing in demand and some landlords are opting to fulfil this need in the market. We offer both short- and long-term letting options.

What is a Short Let and why do tenants need them?

We define a Short Let as a tenancy that lasts between three and six months, the need for which is increasing among tenants who need short-term accommodation.

A short let differs from a standard tenancy, with the main difference being the type of contract signed between the landlord and tenant. Anything over six months will be signed using an AST contract – an Assured Shorthold Tenancy. Under six months, and we use a short let contract, to ensure all parties are protected by the right regulations.

We work with tenants relocating to Guildford and the surrounding villages; some of whom have employer support. We also help, what we call ‘circumstantial’ renters, defined as those between house purchases or renovating their current home, for example. For some renters, a short let provides a more attractive solution. Short lets are a great alternative to an AirBnb, hotel or an unnecessarily long lettings contract.

Nick Charnock

Managing Director

Email Nick

The Pros & Cons for Landlords Choosing Short Lets

Pros

Increased Income – as a rule of thumb, a short let will command up to 40% more in rent, compared with a long let

More Flexibility – as the market or seasons change, so can the anticipated yield, meaning returns can be maximised throughout the year. Some landlords also prefer the short-term commitment in case their own position changes

Cons

Higher costs – Short lets should be inclusive of all utilities, and all furnishings, including linen. There are other associated costs of changing the tenant more regularly, and an increased possibility of more wear and tear

Less Stability – there is more uncertainty with a short let and the potential for void periods is increased

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Property Management

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While house prices are experiencing modest growth, the rental market continues to see significant rises driven by the imbalance of high demand and limited supply.

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Landlord guide to letting property. Everything you need to know to secure the best tenants in the market.