Short term rental

Landlord Discussion
1

Hello All
I am new to rental and currently want to rent out my property for a short term 1 month. What are my liabilities and how can this be facilitated on open rent
Thanks
Ola

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The amount of effort and knowledge required as a landlord for just one month is not worth it.

If you get things wrong, as you most certainly will, you could face serious and costly consequences.

If you are adamant then best to join a landlord association and do some training, you can’t possible get all you need with just an answer on a forum.

1 month or 12, the risk and responsibility remains the same.

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3

One month ? Forget it .You cannot be that desperate? A tenant will not want to move in and then out in a month , if they kid you that they will, then do not , you are stitched up

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4

Airbnb it or similar. Has to be a holiday let. If you do a normal short assured tenancy you cannot get them out after 1 month. You would expect significantly higher rent too. At least double as you will be paying utilities etc too.

I wouldn’t do that through Openrent. Their contract is not suitable

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No point. Use Air BnB. But honestly I wouldn’t bother, it’s not worth it for just one month,

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6

Ola, as many have said already, it is really not worth the effort to try and rent your property for 1 month. Have you the necessary Landlord knowledge to comply or feel confident in what is required to go ahead?

I also do not think it would be worth doing AirB&B either for that length of time. Some properties are not respected or looked after and you could find yourself spending a lot more than it’s worth cleaning up or repairing things.

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Adele4
Thanks for the advice, quite new to the business and trying all possible avenues to have the property occupied for a reasonable length of time to make it worthwhile. Currently listed on other OTA’s.
Cheers

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I have had a tenant move in and out in a month she just found somewhere cheaper ÂŁ100 a month cheaper and asked me could I lower the price so a bit of a con obviously had I had known i

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So she broke the terms of the AST?I assume you kept deposit, if there was one?

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@Ola4
Thought to add a voice to what’s been said and suggested. If you are looking to do this for one month, it suggests you have other plans for the property after that period.

  • probably not worth the hassle
  • Or if you really, really want to do it, then use spare room .com. Get guests into it for a week, two or three depending on what you find. Be prepared to get bed, and table in the rooms though

Hope you find this useful

11

Hey Folks,

Shortlet is better than regular tenancy:

Pros

  • You can get access to you property if needed
  • 50% more rent per month
  • Oppertunities arise, you meet folks from oversea who will return year on year and tend to deal with you direct
  • You are NOT locked in to a contract, so you can ask them to leave anytime if they violates
  • if you do long and short term, both feed tenants/ guests. Meaning short let guest may come to london looking to find anpermanent place, long termers look for temp 1 month between moves

Cons

  • Slightly more wear n tear… but the maintenance is proportional to income
  • In terms of demographic, a good starting point is over 25 years old to filter party folks, min 5 nights and so on

Any how associates and I been on game with this for 7 year and even with quite times the number still very good each year. Between 6 and 15 properties… from 150 p/night to 900 p/night

We have many recurring landlords some give us their properties seasonal, others I have never met as they live permanently abroad.

Services administered via 3 companies:

  • Bookings
  • Cleaning and supplies
  • Maintenance and refurbishment

So to all you landlords on here bad mouthing the concept please take a min to learn the business model. It WORKS

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Have you had any intreat in this from a tenants perspective I wouldnt think it would be worth changing all your details (driving licence prob not be back before you move out) then youve got to pack your old place up and move it all into a new place for 30 days then pack it all up again and find somewhere else (which youd have to start looking for as soon as you move in) how would you deal with a deposit and supposing you asked for ÂŁ4-500 deposit the tenant would have to find that again for the new place totally ludicrous idea

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Would you care to say how your “short lets” are legally compliant, because I believe the vast majority are not.

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How would you deal with someone who refuses to leave?

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Sorry, but you dont sound like you have a clue what youre doing. Statute always trumps contract. If their occupation meets the conditions of an AST then it doesnt matter what your agreement says. It will be an AST

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In your case of the short term rentals, what is the wording of such an agreement?

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Judges don’t tend to like people contracting out of their statutory rights so usually rule against it. I think you’ve probably said enough for people to understand whether they want to take up your offer.

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20

one day the wrong sort of tenant will turn up

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David,

All jokes aside… I am not here to throw mud at the or anyone else.

You be rhe judge for yourself. I have learned your angle and you are NOT wrong in both opinion or approach.

I am neither qualified to advise or preach.

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BTW…

I am NOT offering anything… was just stimulating convo. Sometimes progress is stimulated by different thinking :thinking: