Short term let question

[KarenG]

Hi all

I am hoping there is an obvious answer I’m overlooking here

If I wanted to rent a small house / flat for say two months what is the most cost effective way to do it?

Airbnb and such are the obvious answer I know but I was hoping (! ) for a longer commitment the cost would be a lot less. I’m looking for a 2 bed place in Chelmsford (Essex) and the costs I’m finding are a lot more than I’d expected (£3k/month) but that could just be because I’m oblivious to costs in that area

I am assuming but may be wrong that a letting agent won’t be able to help because it’s too short a rental period?

I haven’t rented for nearly thirty years so I’m way out of my depth!

Thanks
Karen

[sueandco]

To be honest a three month let from an agent (three months is usually the minimum), would probably be cheaper. We are currently in Hertfordshire and a two bed here would be around £700-800 pcm.

[KarenG]

Originally Posted by sueandco

To be honest a three month let from an agent (three months is usually the minimum), would probably be cheaper. We are currently in Hertfordshire and a two bed here would be around £700-800 pcm.

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Thanks so much! I will ask about three months then! That may still be cheaper than Airbnb!

[munmun]

I have rental property and honestly I wouldnt let for three months. Now that the costs of pre rental checks fall to landlords the cost of them is about half a months rent, then have pre and post cleaning, inventory and other costs and the possibility of voids before and after the profitability (unless your buisness plan is short term let's when you charge more per month) is virtually nil.

My minimum contract is now a year, I will of course allow tenants to leave early but the costs then fall to them.

I think air bnb may be the answer or hope you find a LL without a buisness plan!

[yetihunter]

Most agents will use an AST (Assured Shorthold Tenancy) and the minimum for this is 6 months. Anything less is considered holiday letting

[munmun]

Originally Posted by yetihunter

Most agents will use an AST (Assured Shorthold Tenancy) and the minimum for this is 6 months. Anything less is considered holiday letting

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From Property Hawk
Many landlords assume the minimum length of a tenancy under an Assured Shorthold Tenancy has to be 6 months. Not so. It is perfectly legal to let your property for less than 6 month. In fact there is no minimum period for an AST. Until February 1997 the minimum was 6 months, however this requirement was removed by the Housing Act 1996.

It’s therefore perfectly legal to go for a short let. The downside though is that with anything less than 6 months a landlord can’t use a Section 21 to obtain accelerated possession until after 6 months of the tenancy has elapsed. If the tenant stops paying rent after month 2, it may well be another 4 months before a order of possession of a rental property is obtained. If you are worried about this exposure to risk one way around this issue is to take a large rental deposit to cover this period.

[captain-codeye]

Have a word with some small campsites that have lodges, we have 2 lodges that we don’t really let out in the winter For short stays but I’m always happy to let for a couple of months or so over the winter.

[KarenG]

Thanks all, I really appreciate your advice.

I would be happy to pay the three months rental in advance (plus security)

Would this change anything?

[munmun]

Originally Posted by KarenG

Thanks all, I really appreciate your advice.

I would be happy to pay the three months rental in advance (plus security)

Would this change anything?

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I'm sorry to say it wouldnt for me as a LL but others may be different. I have no trouble getting 12 month lets and they are much easier.

[KarenG]

Originally Posted by munmun

I'm sorry to say it wouldnt for me as a LL but others may be different. I have no trouble getting 12 month lets and they are much easier.

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Yes. It’s unplanned and somewhat of a family emergency.