Long term rentals

[Stephen1477]

Hello,

I'm doing some research for next year and I wondered if anyone could answer the following:

1. What are the main differences between using airbnb and a site such as Rightmove and then an estate agent for long term rentals?
2. Is using airbnb more like a long term holiday home, or can you 'live' in the same way e.g. move things around (within reason), have guests etc
3. Would airbnb be the right choice for renting long term for a working professional?

Thank you! Any other advice is welcome.

[Gwen386]

@Stephen

@Huma0 Is absolutely correct. It depends on your location. 

I’ll answer #3 based on my location. LTRs work for me because I’m located where the only nuclear power plant in MD is located. So between July and February, the plant contracts out of state workers to come to the area for outages. My first LTR just ended for 2.5 months, which worked out well. My next one is coming for one month at the end of January. 

[Stephen1477]

Hi thank you sorry I'm based in the UK.

[Sudsrung0]

@Stephen1477 

All depends on your location, for us here in Phuket LTR have to be fully furnished my villas are all rented out because of covid we had to change our tactic's and went for LTR as there was no tourist here they were not allowed in 

I only have one condo on airbnb and the funny things is it has done good,

My villas have a 12 month contract, the tenant pays all the bills and I insist they use my cleaners,

I took a 2 month security deposit and made an inventory of all the items in the villas.

When the contracts end I maybe put them back on airbnb, lets see,

Have you looked at Furnished Finder? again depends on your location as it's mostly traveling nurses.

I have an article comparing FF v Airbnb I can send it to you,

[Stephen1477]

thank you I'm in the UK but for some reason my profile just says 'null'. Can't seem to get the location to update on my profile.

[Mike-And-Jane0]

@Stephen1477 there is LTR and LTR. The Airbnb version seems to be a month - a few months whereas a 'true' LTR could be for years.

For the 'true' LTR Airbnb makes little sense due to the ongoing fees and Airbnb being inserted between the guest and host. Also, I believe 'true' LTR is unfurnished although it appears different in London according to @Huma0 .

For the Airbnb version of LTR there are significant risks if hosts do not effectively get a tenancy agreement signed outside of Airbnb. Also there are significant legal issues (in the UK at least) as it is by no means clear when a tenancy is established and also what legal criteria need or do not need to be complied with (eg EPCs, safety certificates etc).

[Huma0]

@Stephen1477 

As @Mike-And-Jane0 mentioned, it's good to also consider the legal aspects. A six to twelve month shorthold tenancy gives you more rights as a tenant. Airbnb is kind of different to that. So, it not only depends on location, but length of stay.

If it's a homeshare, different laws apply, because you're not a tenant but a licensee, which means you do not have the same rights and can be asked to leave at any time, for any reason, as long as you are given 'reasonable' notice, which normally means one payment period, i.e. if you pay weekly, that's a week's notice. If you pay monthly, that's a month's notice.

Airbnb meanwhile, has it's own set up, policies and rules...

[Helen3]

If you want a long term tenancy you need an assured shorthold tenancy (look it about on the gov.uk website) so you have tenancy rights and you don't pay a high Airbnb fee.

Estate agents and Rightmove is the way to go. @Stephen1477