FAQ

Why you should consider working with a property manager?

Being a landlord can be stressful due to the amount of responsibility it entails. From handling repairs, complying with regulations, dealing with problematic tenants to handling administrative duties, landlords have a full plate. Short-term rentals can exacerbate this stress due to their demanding nature, with frequent tenant turnover and increased maintenance.

Why Do Landlords Prefer Long-Term Tenants?

The preference for long-term tenants largely stems from the reliability and stability they bring. With long-term rentals, landlords can enjoy predictable cash flow without the constant concern of finding new tenants.

Are Long-Term or Short-Term Rentals More Profitable?

The profitability of rentals depends on several factors, such as the property's location, market demand, and the ability to manage or absorb the costs associated with each rental type.

While short-term rentals can provide higher rates, they also incur more management costs, less occupancy stability, and regulatory restrictions.
On the other hand, long-term rentals offer more predictable income and fewer management headaches.

The answer isn't black and white, and ultimately, profitability depends on individual circumstances and preferences.

Short Let vs Long Let: The Key Differences

Short lets refer to properties rented out for less than six months, while long lets typically refer to rentals of six months or longer. Short lets tend to attract holidaymakers or business travellers who want a temporary place to stay, and they often come fully furnished and with utility costs included.

On the other hand, long lets cater to tenants looking for a stable, long-term residence. These are typically unfurnished or part-furnished and often exclude utility bills from the rental cost.

Long-term rentals offer landlords consistent income, more manageable maintenance, and a lower risk of property damage. Moreover, they provide the opportunity to build a long-term relationship with tenants.

What are Most Profitable Rentals?

The profitability of a rental property largely depends on factors like its location, condition, and the local rental market. However, many landlords find long-term rentals to be more profitable due to their stability and predictability.

Average Tenancy Length in the UK

As of 2021, the average tenancy length in the UK is just over two years. This provides landlords with a solid period of secure income and less time and resources spent on searching for new tenants if they choose the long term let option.

Notice Period for Long-Term Tenants

As per the UK regulations, landlords are required to give their long-term tenants a notice period of at least two months if they wish to end the tenancy agreement, providing tenants with ample time to find new accommodation.

On the other end, tenants are required only a month notice.