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What Should a First-Time Visitor Know About Short Lets in London?
Short Lets, also known as vacation rentals or holiday lets, are lets that last less than six months, while long lets are those that last more than six months (usually for an initial term of at least one year).
Short-term rentals are typically for less than 90 days. You may have seen them on platforms that allow letting on them, such as Clooper. Except where you have permission, London Short Lets, for example, are only permitted to be rented for a maximum of 90 nights per calendar year.
There are several reasons to explore short term rental. Corporate tenants, people travelling on business, and even leisure travellers looking for a place to stay usually consider short-term tenancy. This may provide them with a sense of belonging because it is said to be cosier than hotels, which can appear impersonal.
In London, short-term rentals are becoming increasingly popular. However, regardless of how it appears, short-term letting in London is subject to legal requirements.
The law is regulated in a way that allows homeowners to earn a little extra money by renting out their property when it’s not in use. Someone can decide to short-let their apartment when they are on vacation or in between void periods when waiting to sell, and so on.
It is important to note, that different factors must be considered, especially if you are unfamiliar with the UK. Budget, cost, commute, and type of space desired should be a priority consideration.
The good thing is that with Clooper, you can start your search abroad before you even leave, so you can get that sorted before you get here.
Benard sent in a question for Toks’ monthly Cloop’D Advice via someone on the content team: “Hi guys, could you ask Toks What he thinks I should know about short lets if I am coming to London for the first time in a few months?“
What Should I Know About Short Lets in London if I am a First-Time Visitor?
Toks answers:
Short-let apartments in London offer a great alternative to hotels!
I am not just saying this because we list short-let properties on our platform, but they genuinely offer great value for money. Compare the size of a typical short-let apartment with a similarly sized unit in a hotel and the difference is there for you to see.
Depending on the goal of your trip (business or leisure) a short let apartment, without access to additional facilities (although many now have hotel-like facilities), in a remote area might be inadequate.
However, London is a beautiful and vibrant city with excellent transport links, nightlife, and tourist hotspots. With so much at your doorstep, you probably wouldn’t even need to pay the extra for hotel services. What would be more important is the quality, décor and size of the unit. It’s perfect for short let apartment visits.
Short-let apartments in London are more practical for longer stays. It’s not just the cost of the unit but also your living costs that should be considered. I’ll be the first to say living costs in London can be a bit dear. So having the option to prepare some homemade meals can really make living in London more affordable. But do explore and also enjoy the great restaurants London has to offer.
See more tips for choosing Short Lets here.
Cloop’D Advice is a monthly recurring segment in which our founder, Toks Adebiyi, answers questions about property management, ownership, tenancy, regulations, and everything else in between. You should catch up on more Cloop’D Advice from Toks here!
About Toks
Toks Adebiyi, Clooper’s founder and CEO, has over ten (10) years of consulting experience leading and delivering digital transformations. (Including FTSE 100) for brands like VISA and G-Research.
He began his real estate career as the previous owner of a property club with over a thousand landlord members. He has over fifteen (15) years of experience in property investment and management.
Toks Adebiyi has a BSc in Business Management and Information Technology with 1st class honours. He also has a Harvard Business School Certificate in Real Estate Management. As well as an NFoPP Level 3 Technical Award in Residential Property Management and Commercial Property Agency. Among others.
His firm has provided consulting services to a variety of brands, including Prudential, Visa Europe, G-Research, LexisNexis, Lloyds Register, Regus, and the European Medicines Agency.
Toks is a Paul Harris Fellow and a Rotarian. He likes to travel, eat out, play tennis, box, and watch cartoons.
Toks is active in community improvement projects and has served on the boards of directors of several local charities. He coordinates his neighbourhood watch and donates to numerous local, national, and international charities.
Toks describes his purpose as “using my optimism and creativity to assist people in living more fulfilling and joyful lives.”
This blog post is not intended to constitute legal or financial advice.
