Why choose short-term letting?

By using a flat for short-term lets, owners can count on high returns. This form of letting, however, demands a great deal of commitment from them. So is it worth letting a flat "by the day"?

Short-term letting is…

In search of an alternative to traditional hotel rooms, tourists very often choose to rent a property (most often a flat, though not only!) for anything from a few days to a couple of weeks. The market for this form of letting keeps growing, and portals such as Airbnb and Booking.com have become the first port of call for people planning holidays or business trips. No wonder: renting a place of one's own can give a taste of home comfort and privacy.

For flat owners, the prospect of short-term letting promises large income in a short time. Prices on this market are competitive with hotels, so over a month the profits can be considerably higher than when letting a property to one person on a long-term agreement. Is there a catch?

Well, letting a flat to tourists is practically a full-time occupation. Providing guests with the best possible home-like conditions, keeping the flat tidy and, finally, promoting our unit: all this rests on the owner's shoulders. Help can come from an experienced property manager or estate agent, who can relieve us of some of these duties by preparing the listing for our unit or supporting us in finding tenants.

Where and when is letting "by the day" the best choice?

Browsing the websites that mediate short-term property lets, we can easily see that there are places where this type of letting is particularly popular with renters. These include, above all, big cities and tourist resorts. The former attract both tourists who want to enjoy the city's charms and cultural attractions, and people who come on business. For example, estate agencies in Katowice, since the city is an important economic centre, often help, among other things, with buying flats for short-term letting, which are then used by visiting businesspeople.

Short-term letting is also a great way to earn money in tourist towns. The interest our flat attracts naturally depends on the tourist season. At the seaside, the so-called high season falls in summer, during the holidays; the mountains attract tourists in need of a rest both in winter and in the summer season.

Some owners in university towns also use letting "by the day" as a way of making use of a flat that they let to students during the year. In the summer season they can use their listing to attract tourists visiting the city.

Short-term letting of a flat can be a really good idea for maximising the profits from our property. It is worth approaching it in a thoughtful, informed way, however.