If you’re looking for accommodation in or around the capital, you may think that committing to renting a flat on a 12-month rental contract is your only option. If so you will be pleased to hear that there are also short or mid-term let options available. Let’s take a look at the advantages of short-term rentals in London…
Excess demand for properties combined with a shortage of supply is making the search for mid or short-term rentals in London particularly challenging. There are various reasons behind this situation, such as people who left London during the pandemic returning, the number of international visitors rising, and housing price uncertainty. The volatility in the property market is resulting in many landlords selling up to avoid the risk of losing money on their investments. And on the other side of the equation, tenants who are worried about the cost of living and mortgage rate movements are opting to extend rental contracts, rather than buying property.
This uneven balance between demand and supply is leaving long-term tenants facing spiralling rents and intense bidding wars. In addition, landlords have started to demand larger upfront deposits and inflexible contracts with no break clauses. Although recent figures from estate agent Chestertons indicate the situation may be improving, the company still notes that there are still currently more tenants looking to move than at any point in the last five years.
There is, however, an alternative to navigating the pressures of London’s rental market – and that’s looking at short or mid-term let apartments.
The advantages of short-term rentals in London extend beyond holidays and business trips. There are many reasons why they are an attractive option for longer-term stays.
Flexibility: Almost all tenancy agreements are for a fixed term such as six or twelve months. Which is not ideal if you’re unsure how long you’ll need the accommodation. And if you’re competing with tenants willing to commit to long-term contracts. you can easily find yourself at the back of the queue. The good news is… Our furnished short lets are contract-free and ready to move into. They are equipped with everything you need to start enjoying London life on day one. Also, you can stay a week, a month, or a year – offering you complete flexibility as your accommodation requirements change. And extending your stay is also easy and contract-free!
A ready-made home: Our serviced apartments have everything you need to feel right at home straight away. They are fully furnished and have fully fitted kitchens with integrated appliances. Utensils, cutlery, and crockery are provided, as well as bed linen and towels. We also include free allocated parking with every apartment. Obviously, you won’t be able to make decorative changes to the apartment – but think how much time and money you’ll save by not having to unpack or buy any of the essentials.
Cost: We offer quote a per night rate, and subject to availability, we often offer discounts for longer stays. (Please contact us for more information). There is no maximum stay and for stays of over six weeks we often invoice on a monthly basis. Payment is due before the period covered on the invoice.
Maintenance/Cleaning: We offer you a weekly, monthly or occasional housekeeping service, whatever suits you. We carry out routine maintenance on all our apartments with our trusted team of property professionals. Ensuring all our properties are always kept in excellent condition. Housekeeping (including apartment clean, fresh bath and bed linen are quoted for as a separate service).
All-inclusive: As a tenant, in addition to the monthly rent, you usually need to also make payments for council tax, TV licence, WiFi/phone services etc. You may also need to pay utility bills and for communal area maintenance services. With our short let apartments, the nightly rate quoted includes all bills – utilities, council tax, TV licence and WiFi broadband. You won’t need to communicate with service providers and you’ll have peace of mind that everything is covered in one monthly payment.
Convenience: Whether you work in central London or on the outskirts, or even if you work from home, our apartments make life easy. We are located in Finchley within walking distance of the underground. And in Watford and Elstree within easy commuting distance of central London. Each spacious apartment also ensures that you can comfortably work from home. And you’ll have an allocated parking spot – truly a rarity in and around London!
If all the advantages of short term rentals in London have encouraged you to look into this option. But, you are still troubled by some of the myths surround short lets. Read this article to put our mind at rest!