Have you ever thought about providing long term rentals for anyone who wants to use your holiday let? While most people will happily rent for just a week or two, there are some who will look for longer term deals. If you can offer this possibility you will attract a wider audience and have a chance of booking your property up for more of the year as well.
Why do people want to rent for longer periods?
There are several good reasons for this. Some may have the funds and the reason to want to get away for longer. Others may want to have a complete change of scene for a while. Now that it is easier to work from home – especially among those who have their own online businesses – there is the potential to rent a holiday let for a few weeks to enjoy a break as well as working.
It’s also a good idea to book a long term holiday rental if you are considering moving home. For example, if you live near London and you are considering moving to the Scottish Highlands, living in a rental property there for a few weeks would certainly make it easier to get to know the area in more detail. When someone makes up their minds to do this they will appreciate being able to live somewhere close by to make it easier to view properties they have an eye on as well.
It can help bring in income for you during the off season
It might be easy to bring in renters during the peak season, when the weather is good and all the nearby attractions are open and ready for business. However it can be a lot more challenging to do the same during the off season when everything tends to be a lot quieter. Providing a good deal on long term rentals during this part of the year could be financially promising for you. It could provide you with an income instead of an empty property for a few weeks at a time.
Is there anything you should be aware of first?
Yes – it’s a good idea to make sure you are allowed to have long term rentals; some areas and properties cannot offer these terms. Always check your own individual situation to see whether this would be suitable for you.
You also need to be careful with regard to tenancy rights. If someone rents for a long period of time they may acquire the rights to rent as a tenant, rather than renting as a holidaymaker. Look into this before offering long term holiday rentals and make sure you don’t get caught out. Tax breaks may also be affected to some extent.
It’s advisable to do your homework before deciding to offer your rental to long term guests. However providing you check all the details, it could turn out to be a good way to bring in more cash.
I’ve offered my rental for longer terms and it’s worked out very well for me and there’s less work involved.
Thanks for your comment Maria. Glad to hear it’s worked out well for you.