A short term let, or short term rent, can be for a day, a week, or any period up to six months (subject to local authority restrictions). Short term letting can offer good rental income potential, particularly if it is part of a corporate let. However, be prepared for voids and also the extra administration that a short term let will cause.
The benefits of short term lets are that you have some flexibility with your property. If you are thinking of selling, then a short term let could provide some valuable rental income until the property is sold. Perhaps you are going away on business for a few months, then short term letting can provide much needed income to cover the mortgage.
Many companies will use short term lets to place employees in houses instead of using hotels. This is beneficial for both the company and the employee. The company generally saves money and the employee gets to live in a home, instead of living out of a suitcase in a hotel room.
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