Clooper
Short Lets vs. Long Lets: How To Choose The Ideal Accommodation For You
Short Lets vs. Long Lets? Which is better? We’ve all heard this question, and it’s one we ask ourselves almost every day.
A short-term let is generally considered to be one that lasts for far less than a full year. Typically, lets that last less than six months.
A long-term let will typically last from a year to a year and a half. They usually do not have the flexibility of a short-term lease.
Landlords are frequently drawn to the idea of doing short lets because they hear they can earn significantly more this way. This is true because short-term rental rates are typically much higher than long-term rental rates.
We currently offer both short lets (also known as holiday lets or vacation rentals) and long lets in Clooper, but we’d like to shed some light with simple features to help guide you on which option might work best for you at any stage you find yourself.
If you are renting as a guest, you should consider:
Location
Where would you like to stay? For Short lets If you are visiting for business or pleasure, you should consider the proximity to places you want to visit or will be working from.
The location is critical because it has a significant impact on pricing. Keeping this in mind will allow you to conduct more thorough research and plan your budget.
For Long Lets, this also helps you choose the best neighbourhood with amenities that you can afford.
It’s important to consider alternative modes of transportation to make commuting easier for you in both cases. You don’t want to settle for a seemingly low-cost option that actually costs you way more money commuting.
What services are you looking for?
Short lets and long lets have different services. So, you need to know exactly what services you are looking for. For short-term lets, for instance, you may be better off selecting the one that includes housekeeping/cleaning because most taxes are included in the rental price. For long lets, are you looking for a fully serviced option or self-service, parking, what amenities and so on can’t you live without?
The Ambience
Is this a place you want to return to at the end of the day? Minor details such as the atmosphere and decorations/furnishings can have an impact on whether or not you like the place. So keep an eye out for a spot that feels truly ideal. And one that could be mistaken for a home away from home. This applies both to short and long term lets.
Something to be aware of as a Landlord: you rent out a property for an extended period of time, you will be responsible for ensuring that your tenants set up their own accounts with utility and telecoms providers.
Tenants are also responsible for paying their community charge/council tax and TV licenses, and if they do not, you as the landlord may be held liable.
If you rent a property for less than six months (short term rental), you will be responsible for all of the above-mentioned bills as well, so be sure to factor them all into your rent.
If you own, you should consider, amongst other things:
Management Work
Short-term rentals typically necessitate more management work than long-term rentals, which some landlords may choose to outsource. Think general property supervision, cleaning, check-in and out, answering questions/enquiries, providing essentials, and generally ensuring guests’ comfort.
Management and putting things in place is one of the reasons why short-term rental fees are higher than long-term rental fees.
Whereas in a long term rental, this may not be as intense, implying that you will be charged less for it, especially if your apartment is not serviced.
Wear and Tear
A common myth about short-term rentals is that they cause more wear and tear on the property. This may appear to be true because if a property has multiple sets of guests coming and going, surely this will take a toll on the home compared to if a single long-term family lived there?
This may not be the case, and in fact, short-term rentals may be better because they are cleaned more frequently (ideally every check-in and check-out) than long-term rentals, which have a tendency to not get as much cleaning as the former due to their somewhat semi-permanent nature, whereas the type of thorough cleaning in a short-term rental may not always be the case.
Home and Living
In the same breath, there is a tendency for short-term guests to spend less time in their rental property, especially if they are in town for business or vacation, in which case they will be out rather than in the property for the majority of the time. In comparison to long-let situations, where you live here permanently (sometimes with friends/family who may or may not be home more frequently).
As you might expect, there is no simple answer to which of these accommodation types is better. The choice is entirely dependent on your current needs and situation.
When you’ve made up your mind, start looking for the type of accommodation you want right here.
