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WHY SHORT-TERM LETS ARE NOT ALL THEY'RE CRACKED UP TO BE

Updated: Apr 22









Long-term lets offer stability and reliability for landlords, compared to the uncertainties of short-term rentals.

Are you a landlord feeling torn between hopping on the short-term roller coaster or sticking to the reliability of long-term letting?

Both options have their merits and considerations, each catering to a different set of circumstances and goals. However, when it comes to long-term lets, the benefits often outweigh the short-term gains.

Keep reading to discover five reasons why long-term renting is the smarter choice:

  1. Long-term tenancies make more money, more consistently.

  2. The private rental sector has steadier legal ground.

  3. You will come across more reliable tenants.

  4. Your tenancies will benefit from better risk mitigation.

  5. In the dance of changing times, long-term rentals lead with an adaptability.


Long-term tenancies make more money, more consistently


Based on data from short-term tracking sites in London - Britain's busiest tourist destination - even the most active hosts with a single property make less revenue per year than the average long-term rent in London. And that's without factoring in any management or cleaning expenses. For example, a leading holiday lets platform tags on a hefty 18% service charge per booking!

These costs can quickly add up, especially since occupancy tends to hover below 50% for most of the year.

Long-term lets not only boast higher profitability but also offer extra stability. Tenants commit to longer leases - usually lasting a minimum of six months - resulting in a consistent and reliable income stream for our landlords.

Plus, if you're feeling worried about tenants falling behind on rent, you can rely on Rent Guarantee & Legal Expenses Insurance to cover arrears as well as legal costs in case eviction becomes necessary.


The private rented sector has steadier legal ground


Short-term let licensing schemes are in full-swing across the UK, with England gearing up for a registration scheme under the Levelling Up and Regeneration Act 2023.

These changes can make short-term let landlords feel burdened with less flexibility, increased costs, and compliance hurdles. Besides, there's an existing layer of complexity when t comes to acquiring mortgages, head leases or even building insurance for this type of let.

Of course, one can argue that the rental sector is currently juggling with The Renters Reform Bill, but keep in mind that the Bill may significantly change or get scrapped altogether, especially as the upcoming general election adds an extra layer of uncertainty.

With Accent's regularly updated tenancy agreements, you can rest assured that you'll remain compliant with the latest laws and regulations without having to lift a finger.

This way you can focus on what matters most - managing your property effectively and efficiently!


You will come across more reliable tenants


Building strong and positive relationships with tenants is way easier with long-term lets.

Our screening tools empower us to select tenants committed to longer stays, fostering reliability and compatibility with landlord's properties.

Moreover, our automated rent collection and straightforward issue-reporting system make running long-term lets easier , saving time and effort for everyone involved.

On the other hand, frequent changes in guests in short-term lets can result in greater wear and tear, conflicts with neighbours and instances of anti-social behaviour. In the n, these factors may eat into your profits and add undue stress.

If you need a bit more convincing about the benefits of long-term lets, speak to us and we'll give you yet more reasons why they outshine the short-term rental craze.


Your tenancies will benefit from better risk management


As a landlord, protecting your investment and ensuring a smooth rental experience is crucial, meaning that having access to comprehensive risk management tools is essential.

When it comes to finding tenants, you'll find out that our screening process is thorough. Not only can you ask specific questions as we previously mentioned, but we conduct detailed referencing checks on potential tenants and their guarantors.

In contrast, short-term rental platforms often lack stringent screening processes, which could leave landlords vulnerable to guests with undisclosed backgrounds or questionable intentions.

If you're already renting out your property, but desire an extra level of protection, consider Landlord Insurance. It not only protects your property, but also covers your possessions, providing added security.


In the dance of changing times, long-term rentals lead with an adaptability


In the last couple of years, the rental market has undergone significant changes, driven by factors like the Covid-19 pandemic and increasing competitiveness.

Accent Letting & Management has evolved alongside these changes, offering solutions like virtual viewings as well as swift adaptation to new laws and regulations, helping landlords to navigate uncertainties with confidence.

Even finer details matter, such as using AI-powered property description generator and robust messaging system, saving valuable time in listing optimisation or dealing with too many tenant enquiries.

On the other hand, the fixed booking periods of short-term lets can limit one's ability to respond promptly to market shifts or new regulations, creating a potential risk of missed opportunities or non-compliance.





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