With a lack of certainty on travel restrictions, many Brits are planning to vacation closer to home this summer, giving investors the opportunity to break into the short-let market.
Where should you start?
Lasting anywhere from one week to six months, short-term rentals can be a great investment choice.
Before deciding where to invest, you first need to think about the purpose of your rental, for example, are there any cultural events, attractions or destinations that could prove in-demand and help you to secure higher and more consistent returns?
Location is everything within the property sector.
Opting for somewhere with great transport links or nearby to an airport could give your accommodation an instant USP that increases its rental value per night or week.
The next step would be to determine how involved in the management side of things you want to be.
Short-term lets require more work but give you greater flexibility.
The key consideration you need to make is how to avoid extended void periods where the property is vacant.
If you're looking to be highly involved in your lettings responsibilities, you might find that marketing your property across a multitude of channels helps you to build reviews and a trusted reputation, whereas you might find it beneficial to consult a letting agency if those tasks become too much.
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