Is there a demand for very short term rental?

[Cam123]

Having sold our house recently but not having managed to buy another one yet, we have been looking in vain for a short let (2/3 months)in the area with absolutely no success. On here i have read of a B&B which has now closed, and various pub rooms that haven't been well-rated, and i've also seen posts by others who are renovating their homes and need a place to stay for a wee while, and those who have family visiting and who could use a hotel room for spill over family members.

To the point, we were thinking that we might buy a weeny flat in the area for us to live in until we find the right house, and that we can use as and when we need to around the house building works (we'll be buying a fixer-upper). The question is, do people think there would be demand to rent it out inbetween our use of it if I offered the flat on a one night - 3 months rental basis?

Obviously there are the pricing, deposit etc. issues also, but I can deal with those; i'd just like an idea as to if people feel the need is there.

Thanks for your thoughts!

[KidKruger]

Sounds like it'd be a nightmare to me, all you need us a couple of major hassles with tenants and it could become a burden. Just rent a flat.

I had a new roof on 2 years ago and decided to move down the road for 2 months.

Flat I rented was only for 6 months let, so I took it and used the opportunity to do other works in house that I'd been thinking of ie. plaster 4-storey hall, fit some windows, get floors up to move heating etc.

Do that or complete works in certain part of house then live in that bit, cooking on camping stove if reqd, obviously easier with no kids.

[Cam123]

Hi KidKruger, I understand that a 6 month let worked for you but for a lot of people circumstances dictate that a 6 month let is just not right for them, for whatever reason. It seems to me that there is just nothing if you NEED something shorter.

As to our specific situation, I fully renovate houses and have lived in them throughout the refurb before; now though we need something that we can move into on a relatively regular basis for a short period each time. Renting for us is also difficult because we have a dog which we would most likely have to farm out with the in-laws!

[KidKruger]

Fair enough, sounds like you know which way to go then.

All the best, KK.

[JessieW]

You should speak with the manager at Property In. When we bought our flat he told us that if we wanted to rent it out, it would be perfect for short term lets because there is a need for it in the area, and more money to be made than long term. He was speaking as if he had lots of people in mind and that they would manage it. Might be worth a try!

[Carter]

I own a flat in central Birmingham that is used for exactly this purpose. The longest let is usually 3 months and I've found that its never been empty for more than 3 weeks. I've also found that you can charge a little higher in terms of rent due to the circumstances, and this extra can cover the extra cleaning required between tenants.

I have also found that wear and tear seems to be reduced - I think because the tenants see it more as a rental and so look after it more, rather than "home" (as it were). Another part of the market to check out is the corporate registers. Not all corporates are after 6 bed houses in Chelsea for their staff!

I should highlight though that I do use a management agent, and that they look after running the logistics of it. I have found the fees are more than covered in the turnover of the place, and it removes 95% of the hassle.