How Long is a Short Term Let? (And What Are the Benefits?)

February 15, 2019

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A short term let covers renting a property for a period of less than 6 months, but it can actually be a lot shorter than that. This kind of property renting can offer more flexibility than traditional, longer letting arrangements, and as a result they are increasingly popular. They are possible for both domestic and commercial properties.

Why Choose a Short Term Let?


Short term commercial lets can be useful in lots of different situations and are well suited to the modern business world. 

You  may require a temporary premise for your business when you are between  properties, perhaps while purchasing a new, permanent space. This type  of renting gives you all the required amenities that you need to  continue business as usual and so reduces the pressure on you and your business. 


In other cases, your business may have grown  and you might be considering moving into a commercial property for the  first time, but don’t want to be tied into a long contract. 


Additionally  if you need a work space for only a few months, to cover a specific  project, or an influx of work that is tied to a specific part of the  calendar, the short term let would provide better value to you. You can  rent for the time you need only and end the agreement once the project  ends.


What are the Benefits of a Short Term Let?


In  general, short term leases allow you to access commercial properties  with more flexibility than a traditional, long term lease would require.  This is great for startups and small businesses who may want to try out  a property, or businesses that have changing needs throughout the year.  If you need something dynamic where you have more control over the  length of your stay, it might be perfect for you.


One  important thing to bear in mind is that the rates are usually more  expensive than long term lets, to cover the wear and tear that a  property may undertake between tenants, and the time that the property  is vacant since letting periods rarely match up. While this may seem off  putting, it’s worth remembering that although the rates themselves are  higher, the overall cost is cheaper as the tenancy is shorter. Compared  to a longer lease that you are tied into for a set period, a short term  lease can actually save you money. 


Ready For Your Next Move?


When  taking out a lease it’s important to always involve an estate agent so  that you can make sure the terms are suitable for you, and you  understand exactly what your rights are. Some landlords will offer even  more flexibility with weekly or monthly lease extensions, on a case by  case basis.


If you think a short term let could be a good option  for your business, get in touch with Liverpool Lets today. We have a  variety of offices and industrial units for workshops or trade counters,  and have units available on popular business parks such as Champions Business Park and 66 Long Lane, so call on 0845 872 6334 or email info@liverpoollets.co.uk today to discuss your requirements.