Easyroommate has said that short-term lets have been on the up. The website has revealed figures showing that, during April, the equivalent of 41 per cent of the property that is now being advertised online using its UK site took the form of short-term opportunities.
This was a smaller 39 per cent back in November of last year. Also in April, live-in landlord insurance holders were responsible for close to half the short-term rental opportunities the site had listed – some 44 per cent of them.
Speaking about the benefits of short-term letting, the website’s Jonathan Moore said that it was a good opportunity for those who own homes to earn more money while avoiding a lengthy commitment.
He added that the organisation’s numbers “show that a growing number of [their] users are switching on to the freedom short term lets provide”.
Easyroommate says that the United Kingdom’s major cities are the locations where short-term renting most often happens.
According to its site’s numbers, London is behind most such listings. The capital is the venue for 21 per cent of the 6,029 presently advertised short-term rental opportunities.
Behind the city shortly set to see the Olympics come to town, other cites apparently offer significantly less choice to people looking to rent short-term.
Some two per cent of Easyroommate’s listed short-term homes are in Leeds, two per cent in Bristol, three per cent in Birmingham and threeper cent in Manchester.
Mr Moore put the fact that most short-term options are housed within major cities down “to increased numbers of people relocating for career purposes, and requiring immediate accommodation”.
Shorter options meant that renters could take a taste of somewhere new and not have to commit, he said.
Meanwhile, those landlords looking to rent out longer term have been reminded of the advantages of the student market, with ipsbmv.com’s Jon Ainge telling them: “Student property is one of the easiest ways for buy-to-let investors to profit from property.”
He continued: “It even takes away the need to research hotspot areas because all areas where there are large numbers of students to cater for will be hotspots.”
His organisation says that, because of demand, landlord insurance holders are consistently gaining significantly greater returns from student property when held up against commercial and residential alternatives.
One of the biggest benefits with choosing an insurance expert such as Rentguard is that landlords can request specific cover to ensure that whatever use they have for their buy to let property, they can have the right landlord insurance cover to fully protect their investment. To find out more about Rentguard Landlord and Tenant insurance CLICK HERE
The average cost of renting a home in Greater London is now a massive 82% more expensive than the rest of the UK, according to the latest HomeLet Rental Index
The report shows average rents in the capital rose by 0.8% in May to £1,187 per month. This increase means the difference between the cost of renting a home in Greater London and the rest of the UK reach is the largest it's ever been – according to HomeLet's data.
Other headlines from this month's report show:
In May the average UK rent decreased over the month by 1% to £760
Despite average rents being the cheapest in the UK, the North East saw more tenants moving away from the region than any other
The North East is the only region in the UK to see its annual rental figure decrease consecutively over the past three years
To find our more about HomeLet Landlord and Tenant insurance CLICK HERE
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