By Jordana Miles, Head of Short Lets
It's no secret that the residential sales market is not having the easiest time. Geopolitical uncertainty, pressure on household budgets and the cost of borrowing continue to weigh on buyers’ confidence, and some properties are taking longer to sell than their owners anticipated.
Chestertons’ latest Quarterly Report points to early signs of stabilisation in London, but the recovery remains uneven. While Chestertons’ sales agreed rose by an encouraging 31% year on year in September, those across the wider market in the same postcodes fell by 7.9%.
For sellers, realistic pricing and a willingness to respond to feedback remain essential. Even then, finding a buyer and completing a sale can take time, while an empty property continues to carry costs.
For some owners, a short let could offer a practical way to generate income during that waiting period. As Head of Short Lets at Chestertons, I’d like to explain when this approach can work brilliantly and what owners should consider.
A short let can be a fantastic option for landlords selling an investment property, as well as homeowners who have already moved out or are prepared to rent elsewhere while waiting for the right offer.
There is, however, an important restriction for landlords: if you have served notice on tenants to sell the property, you cannot re-let it on any basis within 12 months of their departure.
For eligible owners, rental income can help offset mortgage payments, service charges and bills, easing the financial pressure of the sales process.
Our short lets team will assess demand for your home and explain how a let could work alongside the sale.
That includes a realistic view of the likely income, the costs involved and whether the arrangements suit your priorities. The aim is to make the waiting period more manageable while giving buyers the opportunity to view.
If it is suitable, we take care of preparing and marketing the property, checking prospective occupants and managing their stay. We work with suppliers who can liaise directly with the client, or with us, to furnish or stage the property.
Our short lets typically last around two and a half to three months but can run for six months. Before each stay begins, we agree viewing access and booking dates, with our sales and lettings teams working together throughout.
Not everyone who chooses to short let their property with us is selling up. Some landlords choose it as a deliberate strategy, whether between longer lets, ahead of a possible sale or while deciding what comes next.
Others let out their own home while they are away, turning a period when it would otherwise sit empty into an opportunity to earn income.
For these owners, flexibility matters. They may want to use the property themselves when they return or review their plans once they have a clearer picture of the market.
A furnished, managed short let can give them time to consider those decisions while earning an income. The important starting point, for us, is understanding what the owner wants to achieve and whether the property can accommodate it.
Owners often ask whether there is genuine demand for furnished short lets. We see interest from corporate clients relocating staff to London for temporary assignments and international guests who need a furnished home for a defined, temporary stay.
Others are between homes, waiting for a purchase to complete or having work done on their own property. They need somewhere comfortable, well-presented and ready to move into.
For owners, this means presentation matters. Furniture, reliable appliances and the practical details of everyday living all help make a property appealing to someone who needs a temporary home.
Our team can advise on what is needed before marketing begins, so owners understand the preparation involved and prospective guests know what to expect.
Chestertons both sells and lets homes, so we can look at the whole picture with you. I visit our branches across London, working with local sales and lettings teams to identify suitable properties and give owners a coordinated recommendation.
Sometimes the right recommendation is to sell. Sometimes it is to let. For some owners, combining the two can make sense while the search for a buyer continues.
The Renters’ Rights Act has changed the lettings landscape, and London also has rules on short-term letting, including a limit on the number of nights a home can be let each year without planning permission. Suitability therefore needs to be assessed carefully.
We believe that guests who feel well supported are more likely to take care of your property. From the first enquiry through to departure, we provide a smooth and professional experience. If you are selling, or weighing up your options as a landlord, get in touch. We will talk you through what we recommend based on your goals, your property and current local demand.