SHORT VS LONG TERM

What is the difference between short-term and long-term rents in London?

On this page, we will look at the pros and cons of a short-term rent versus a long-term one in London. First of all, we should clearly define what we mean by a short-term rent, compared with a long-term rent.

SHORT TERM

A short term rental is particularly suitable for those who intend to visit London for vacation or business. Families who do not intend to spend a week cooped up in a hotel room or professionals who need a studio/home to work, perhaps even arranging business meetings there. Short-term rental is a great solution for owners who intend to live out their investment by staying London from time to time.

LONG TERM

A long term rental is particularly suitable for those who intend to stay in London permanently: especially for , who move to London for extended periods (usually, at least 6 months). In addition, renting for long periods is also an effective solution for landlords themselves who wish to preserve their apartments: tenants who stay in apartments for several months, in fact, tend to manage the house more carefully, taking care of it as if it were their own.

Advantages and disadvantages of short and long-term rents

In this table, we will take a look at some of the advantages and disadvantages for owners and tenants.

LONG TERM

Hit-and-run rental, ideal for short stays with high flexibility.
Flexibility, in that contracts are often renewable monthly or with notice of days or weeks.
Much more privacy, you don’t have to report to whoever enters the house unlike a hotel.
Much cheaper than a hotel room by having larger spaces and much more privacy.

SHORT TERM

Long-term lease ideal for families or professionals seeking stability
Very binding in that the minimum term is 6 months and longer with associated deposit to be registered.
The tenant is given a proper screening complete with references from the previous agency or landlord.
Much cheaper than a short term, having an agreed rent for long term.

SHORT-TERM RENT

Many lease cycles, involve more cleaning and maintenance.
Seasonal cash flow with ups and downs, risk of slow periods.
The risk of getting into hassles with neighbors and the condo, sometimes it is even prohibited.
Flexibility and possibility of living in the flat.

SHORT TERM

Fewer rental cycles, less maintenance in the long term
Long-term stable cash flow
No nuisance from the block of flats and neighbours. Often the landlord is obliged to inform the condominium of the tenant by paying a sub-letting fee to the freeholder
Little flexibility, the flat is leased on 6-12 month contracts

Why renting an apartment in London?

Living in central London is an ideal choice for people working in investment banks or prestigious law firms. It is not only convenient but also a symbol of status. Neighborhoods such as Notting Hill, South Kensington, and Covent Garden offer unique opportunities to be at the center of the news and to grow your career. If your talents have brought you to London, you will find an environment rich in networking opportunities. Welcome Home is by your side to help you find the perfect apartment or house for you.

Who to rent your apartments to in London's zone 1?

We look for tenants for your London apartments with the utmost professionalism: we check references, meet applicants and assist them throughout the tenancy. We maintain constant contact with landlords and tenants to solve any problems and meet any needs. For us, it’s not just business: we treat your property with the same care and attention we give to our home, because every client is part of the Welcome Home family.

Do you have a house in London? Here's why you should consider renting it out

London is one of the most robust and profitable housing markets in Europe, growing steadily even after the global housing crisis, offering properties at highly competitive prices. Renting a house in London for long periods stabilizes cash flows, with on-time income and total security thanks to UK regulation. A long-term rental allows you to plan for ongoing cash flow and keep the property in good condition, occupied by referenced tenants. Welcome Home helps you find the right property and manages every stage of the tenancy, from renovation to maintenance and tenant search.