Short-Term vs Long-Term Let: Which One is Right for You?

Deciding whether to offer your property as a short-term or long-term let can be tricky. Both options have their perks and challenges, and the right choice depends on your personal circumstances and goals as a landlord. But don’t worry—we’re here to help you figure it out! Let’s take a look at the pros and cons of each, and how V6 Property Management can make managing a short-term let hassle-free.

Short-Term Let: Flexibility & Higher Returns

Short-term lets, like those on Airbnb or similar platforms, allow you to rent your property to guests for short stays, often ranging from a few nights to a few weeks.

Pros:

• Higher Income Potential: You can often charge more per night than with a long-term let, especially during peak seasons.

• Flexibility: You can use the property yourself between bookings, perfect for holiday homes or if you're unsure about committing to long-term tenants.

• Control Over Guests: You can select guests and vet them through platforms that offer reviews and ratings, ensuring more reliability.

Cons:

• More Work: Managing bookings, cleaning, and maintenance in-between stays can be time-consuming.

• Income Fluctuations: Earnings can be inconsistent, with busy and slow periods depending on demand and seasonality.

• Legal Considerations: Short-term lets may require additional permits or have restrictions depending on your location, so it’s important to know the rules.

Long-Term Let: Stability & Consistency

Long-term lets usually involve renting your property out for six months or more, giving tenants more permanent accommodation.

Pros:

• Stable Income: With a long-term let, you’ll have a steady rental income every month, which makes it easier to budget and plan.

• Less Day-to-Day Work: Once you have a tenant, there’s less turnover and you won’t need to constantly manage bookings, making it a more hands-off option.

• Tenant Responsibility: Long-term tenants are often responsible for utilities and some minor maintenance, reducing your workload.

Cons:

• Lower Rent per Month: You won’t be able to charge as much per month compared to short-term lets, although the trade-off is stability.

• Less Flexibility: Your property will be tied up for the duration of the lease, so you won’t be able to use it personally or rent it out to others until the lease ends.

• Tenant Issues: If you have a difficult tenant, it can be harder to end the lease or manage disputes.

How V6 Property Management Can Help with Short-Term Lets

Short-term lets can be a great way to boost your rental income, but they require more time and attention. That’s where V6 Property Management comes in! We specialize in managing short-term lets, so you don’t have to lift a finger. From handling guest bookings and cleaning to ensuring your property is always in top shape, we make sure you get the most out of your property without the stress.

We can help you:

• Maximize your earnings by setting competitive nightly rates based on market trends.

• Manage bookings and communication with guests, so you don’t have to worry about late-night inquiries.

• Take care of cleaning and maintenance between stays, ensuring your property is always guest-ready.

• Navigate legal requirements for short-term letting, so you stay compliant and stress-free.

The Bottom Line

Whether you choose a short-term or long-term let depends on your lifestyle and financial goals. Short-term lets offer flexibility and higher earnings but require more effort, while long-term lets provide stability and a hands-off experience.

If you're considering a short-term let but worried about the extra work, V6 Property Management has you covered. We'll manage everything from start to finish, ensuring you enjoy the rewards without any

of the hassle.

Interested in learning more about short-term lets and how we can help you maximize your property’s potential? Contact V6 Property Management today, and let’s chat about how we can turn your property into a stress-free income generator.

Whether it's short-term flexibility or long-term stability, we’ll help you make the right choice for your property!