The different letting options


Before letting out a property, it is important to know the different options available to you as a landlord. There are various advantages and disadvantages for each, which we have listed in our guide below:

1. Short-term let:

A short-term let usually starts from one day and can last up to a few weeks or a couple of months. It is an option for any type of property, from a studio flat to a detached house. 

Advantages:

  • High return over a short period of time.
  • Less damage to the property from hanging pictures etc. so the property stays in better condition.
  • More flexibility to use the property yourself or for friends and family.  

Disadvantages:

  • Can be more costly for landlords, needing to get a property back to standard in-between short-term tenants.
  • Less stability as it can leave more periods when the property is vacant.
  • Time consuming to find new tenants on a regular basis.
  • Time, effort and cost required to manage utility bills, council tax and TV license.  

2. Long-term let:

Long-term lets usually start from six months and can last for a few years. Again, this option is available for all property types. 

Advantages:

  • Less time consuming for finding new tenants.
  • Peace of mind that the property is occupied long-term.
  • All bills such as utility bills, council tax etc. become the responsibility of the tenant.
  • Regular rent payment from long-term tenants. 

Disadvantages:

  • More chances of hoarders and late payers.
  • Damage from wear and tear, hanging pictures etc.