With the festive season fast approaching, short lets appear to have taken a renewed lease of life, showing clear signs of ending 2023 with a bang!
All of us within the property industry maintain a very watchful eye over what is coming or changing in the continuously evolving market. And fluctuations in mortgage and interest rates over the past few months, have led to vendors and landlords alike looking for new ways to capitalise on the rental market. It feels safe to say we’re seeing the short-term rental market to be a well incubated set-up to take us in to 2024.
There are more businesses than ever offering a similar service to the likes of Airbnb, particularly in London, which brings up the debate of “what makes short lets different?”
Over the last decade or more, the short let market has changed constantly, but with new money from all parts of the globe consistently coming back to the UK, we are confident in our ability to be agile and adapt to the ever-changing desires of clients – both current and potential.
From November through to February our Short Let department works particularly closely with our sales teams – as buyers are often looking to test out an area before they make a purchase. There are many reasons for this, from insurance claims, to being in between sales, or wanting to be in a catchment area for schools. It provides a home-from-home scenario while you take time to weigh up important decisions.
Our short-term offering has exploded in the rental sector – last year our Short Lets Department received an enquiry every 32 minutes*, and more of our clients, whether they are typically longer term landlords or even vendors, asked us for more recommendations and options than ever before. Our Corporate Services team also receive a property search enquiry every 10 minutes* which also showcases the sheer demand to accommodate the prime lettings market.
Whilst we may be seen as a relatively ‘new player’ in this market, it’s important to highlight that there are important differences between our offering as a estate agent, in comparison to other businesses such as Airbnb. Short-term rentals managed by a prime estate agent such as us at John D Wood & Co. offer several advantages often making us a preferred option over peer-to-peer platforms.
Here are some reasons why our offering to secure a short let property might be the better choice: