How to Get Started with Flexible Letting

The upcoming Renters' Reform Bill in the UK Parliament is set to make significant changes to the way landlords and tenants interact. One of the most significant changes is the introduction of flexible lettings, which will allow landlords to let their properties on a short-term basis, typically for between one and six months.

There are a number of benefits to flexible lettings for both landlords and tenants. For landlords, flexible lettings can provide a more reliable income stream, as they will not be tied into long-term contracts with tenants. This can be especially beneficial if the landlord is planning to sell the property or if they need to access the equity in the property.

For tenants, flexible lettings can provide a more flexible way to rent, as they will not be tied into long-term contracts. This can be especially beneficial for tenants who are new to an area and who are not sure how long they will be staying. It can also be beneficial for tenants who need to move frequently, such as for work or family reasons.
The Renters' Reform Bill is still in its early stages, but it is likely that flexible lettings will become more common in the future. Landlords who are considering letting their properties in London should consider the benefits of flexible lettings and how they can work to their advantage.

Here are some tips for landlords who are considering flexible lettings:

1. Do your research

Before you start letting your property on a short-term basis, it is important to do your research and understand the different types of flexible lettings that are available. There are a number of different agencies that can help you with this.

2. Get the right insurance

When you let your property on a short-term basis, you will need to get the right insurance. This will protect you in case of any damage to the property or if there are any problems with the tenants.

3. Be prepared to manage the property yourself

If you are letting your property on a short-term basis, you will need to be prepared to manage the property yourself. This will involve tasks such as cleaning the property, collecting rent, and dealing with repairs.

What's next?

If you're ready to explore flexible letting, why not join with a trusted partner in Opago? Our vast experience and knowledge of the flexible market are invaluable to clients just like you, and we've recently partnered with some fantastic companies to help them understand the value of flexibility. If you're ready to see the difference that flexibility can make, check out our calculator.

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