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How Do Short Term Lets Compare To Other Property Strategies
Property owners utilising short-term lets/rentals have lots of flexibility compared to any other rental strategy.
Of course, the main reason is often to improve rental income and rental yield however it also gives you as the owner the benefit as renting out as a long term let in the future on an AST and also if you wish to use your investment property for personal use and can block out availability for themselves, friends and family if you wanted as a holiday or mini-break.
Another benefit some landlords like if you need flexibility for maybe selling or even moving back into the property as your home in the future then with short-term rentals you have that simplicity whereas an AST may require a longer-term approach.,
This flexibility to switch back to long-term fairly quickly if required and to sell their property without having to worry about being locked in a long term contract is a strong reason why short term lets, How Do Short Term Lets Compare To Other Property Strategies corporate lets, and holiday lets are getting a lot of interest from investors in the current market.
The main benefit also being that a well managed short-term rental property in a good location often generates more revenue due to higher nightly rates.
If your property search is also focused on key locations, tourist hotspots, city centers, and near key events then the ability to adjust prices based on seasonality and special events is a key factor allowing to benefit with demand peaking which is not possible on a long term lease.