Short-Lets for Landlords

 

What is a short term let?
A short let is a property which can be let generally for more than 90 days up to a maximum of six months (less one day). Short lets for periods less than 90 days are subject to planning permission being granted by your local authority.
You can short let any self contained property from a studio to a large house.

 

Who takes properties on short lets?
A significant number of large companies use short-lets as a more cost effective and convenient solution to hotels or serviced apartments. Insurance Companies often use short term lets to house clients whilst repairs are being carried out.
Other users include property owners who are having work done on their homes, businessman working in London on short term contracts and those on holiday in the UK who want a self contained apartment they can call ‘home’ for a while.

 

What rent could I expect?
Income from renting short term is generally much higher that long term because they are more comparable to hotel and serviced apartment rates. You could possibly receive anything from 50-100% above the norm. The shorter the term the more you are likely to achieve.

 

Can I rent my property to those attending sporting/cultural events,etc?
The Olympics, Wimbledon, Chelsea Flower show are some of the events you may be thinking of. These normally last only a matter of a few days or weeks. Unfortunately, you would need to seek planning permission from your local authority to let for periods less than 90 days.

 

What do I need to do before I can let my property?
Landlords need to meet all the statutory safety regulations for gas, electrical and soft furnishings. You will also need to supply an Energy Performance Certificate.
The property will need to be professionally cleaned before the start of each tenancy, whilst a professional inventory is thoroughly recommended with updates at each tenancy change (if appropriate).

 

Do I have to let my property furnished or unfurnished?
This is completely optional. The shorter the period of let you are offering, the more likely it will be required on a furnished basis.
It is normally expected that a fully equipped kitchen is provided for all short-term lets.

 

Do I need to supply linen, towels, crockery, cutlery, etc?
This is very dependent on the style of let you are offering. Please call us to discuss further.

 

What costs am I responsible for during the tenancy?
Landlords are responsible for paying for all the utilities, the council tax and the cost for installing an active telephone line. They exclude the setting up of a telephone account and landline telephone/internet charges and bills.

 

What do tenants have to do before moving in?
Firstly, they will need to be referenced in the normal manner.
If they are considered suitable, they will need to put down a minimum of one month’s dilapidations deposit, and would normally be expected to pay the full rent in advance. They will also have to pay for an inventory and check-in to be carried out. You will normally be responsible for the check-out.

 

What happen to their dilapidations deposit? Is it lodged with a Tenancy Deposit Scheme?
No. Tenancy Deposit Schemes will not accept deposits for less than six month periods. Burghleys will hold the deposit in a separate clients account for the duration of the tenancy and will return the deposit to the tenants if they meet their contractual obligations.

 

What are Burghleys fees and terms of business?
We would be more than happy to send or email this to you upon request.  However, we would thoroughly recommend us visiting your property to discuss your options in more detail and to answer any questions not covered above.

 

Any other questions?
Please do not hesitate in contacting our office. We would be delighted to hear from you.