Fexi - lets usually offer a cheaper option when compared with fully serviced apartments...
Partly because operators will discount rentals for longer stays, and the level of services included may be less than a fully serviced property.
A typical example could be a family having to move out of their home while building works are being carried out. Perhaps only a three month tenancy is required so a traditional fixed term tenancy would prove an expensive option. A flexi-let tenancy can be set up for a three month period and then if the tenancy needs to be extended because the buildings works have not been completed on time so the tenancy can continue subject to one months notice given by the tenant. email us for more info
Tenancy agreement versus short stay licence agreement.
Serviced short stay properties are offered out on licence or holiday let agreements and care must be taken to ensure that the proper permissions are in place for a landlord to operate their property in this way : lease obligations, insurance conditions, lender permission and planning or local authority directives.
With a Flexi-let however a landlord is operating with a standard Tenancy Agreement which will be automatically permitted for most buy to let situations, landlords are simply offering a tenancy on flexible terms.
It is imperative however that you set up each tenancy agreement to fully comply with current letting legislation, Landlord Direct is here to help you with the process. email us
Cost benefits for both landlords and flexi-let tenants
A flexi-let offers cost benefits to both the landlord and tenant.
The tenant needs accommodation for months rather than just a week or two, but does not want to commit to a longer term tenancy, nor does the tenant wish to pay the higher cost of a fully serviced short stay property.
The landlord can achieve a higher rental in return for offering a flexible shorter letting period. Many landlords will also offer flexi-lets inclusive of utility costs and some limited cleaning. This helps the landlord keep his property up to standard, reducing wear and tear costs.
A tenancy deposit can be taken in the normal way. email us for more info