Time to hang up your HMO boots and enjoy some of your hard earned freedom
As a HMO licensed property owner you certainly don’t need reminding of the difficulties and challenges that are often associated with buying and managing a property on the HMO market. The bottom line is so often a cause of recurring nightmares and although HMOs can be good investments, they don’t come without their fair share of troubles.
We believe that once your property is ready to be occupied, the last thing you need is the hassle and inconvenience of managing problem tenants, day to day cleaning or ongoing maintenance and for a revenue model that is too often at best second rate. Why you may ask? Well, if we are to consider that the short term rental market can offer you an income that is up to 50% higher than standard rental prices, the figures add up to at very least warrant some attention.
With Iglu, your HMO property can really start to shine by providing you with an income that is free from any of the hassle and inconvenience involved in managing a permanently tenanted property. It’s time to hang up your HMO boots and enjoy some of your hard earned freedom.
Why not consider having a chat with one of our experts who are well versed in the short term lettings and see how we can take a load off your back and allow you to enjoy the investment you have earned. To learn more click ‘Contact’ in the title menu and get in touch either by phone or by completing our information in the contact form provided.
Benefits of Short Term Letting Your Property
For landlords there are numerous benefits of short term letting, some of these include:
Landlords letting their properties on the short term market can generate up to 65% more in annual rent than a long-term tenancy;
The calibre of individuals booking through platforms such as AirBnB tend to be much higher than many longer term tenants. Employees from the corporate world are often interested in short-term lets because of the nature of their visits. These guests tend to frequently return to reliable properties and are therefore a fantastic market segment.
Visiting guests pay up front and are often covered by additional insurance policies such as those offered by partner sites such as AirBnB. This offers you the ultimate peace of mind;
Unsavoury tenants are a thing of the past. With no long term tenancies to worry about short term letting brings an end to a whole host of renter horror stories that are every landlord’s worst nightmare.
Are Short Term Lets Feasible?
Short term lets have quickly become a more feasible option for landlords, it is certainly worth considering working with Iglu if you are in one of the following four situations:
If you are in the process of selling your property, short term lets can really be an excellent way to generate an additional income, especially as completion on a sale can be riddled with delays.
If you live in your property but work away for months at a time then short term lets can in fact be an ideal solution for you.
If you own a holiday home or spend parts of the year at another property, or abroad, letting your property out on the short term rental market can prove a win:win scenario.
If you are preparing a newly refurbished property for the rental market, short term lettings may place another option on the table. Additionally letting the property out on the short term for a few months may allow you to understand just how ready your property is for longer tenancies.
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Take a break from the hustle and bustle.
Find rest today with Iglu Host Management services. Any questions? Just get in touch.