Short-term and long-term letting – an overview

Many people buy a flat in order to let it. There are two basic forms: short-term and long-term letting. They differ from each other and have different advantages and disadvantages. Although long-term letting is definitely more popular, more and more people are also deciding to let a flat for a shorter period of time. When does that work? Read on to find out.

Short-term letting – an overview

Short-term letting, as the name suggests, involves making a flat available for a short period of time. It usually lasts from a few days to a few weeks. This type of letting works best in tourist towns, where visitors look for cheaper accommodation than hotels. Renting a flat is then an attractive option in terms of both finances and convenience. A rented flat provides comfort and privacy that you will not find in a hotel.

For the landlord, letting a flat for a short time brings high income, but it can be unstable. It will depend on the season. When the number of tourists in the city falls, there is a risk that the property will stand empty. Moreover, this type of letting requires more involvement. Tenants change often, and you also have to clean up after them each time they move out. Keeping the property to an attractive standard is just as important. A growing number of people expect more from temporary accommodation than just a roof over their heads for the duration of a holiday.

Long-term letting – an overview

Long-term letting, in turn, involves entrusting the property to a tenant for a longer period of time. This is usually a minimum of one year. Long-term tenants are often students who have come to a big city to study, or people who are starting their careers and cannot yet afford to buy a flat.

Letting a flat for a longer period involves signing a tenancy agreement. This guarantees greater stability for both the landlord and the tenant. This type of letting is also less demanding. If we are lucky, the tenant will decide to stay in our flat for longer, and we will be able to count on a steady, stable income without having to constantly look for new occupants.

Long-term or short-term letting – which to choose?

If we want to use the property we have bought for letting, we should assess at the very start which form will be more beneficial for us. Short-term letting is recommended above all in tourist towns and for flats in attractive locations. In large cities this should be the very centre, and in the mountains as close as possible to the main trails or ski slopes. It is also worth considering whether we will have the time and energy to look after a property let in this way. If not, it is a good idea to entrust its care to companies that manage this type of unit.

Long-term letting, in turn, is a solution for people who value a stable and regular income without having to keep looking for new tenants. This type of property should be located close to universities or in quiet districts of the city with the necessary infrastructure around it. Flats for long-term letting also do not have to be of the highest standard, but they should be equipped with all the accessories necessary for everyday living.