Property owners need to work smarter to turn a profit in the light of recent tax reforms and shifts in the lettings market.
Whether you’re selling, have one property to let or a portfolio of dozens, you’ll need to weigh up all the available options to ensure you stay firmly in the green. Avoiding void periods, understanding short lets and long lets, managing your tax bill and other important factors must be mastered to keep your profits healthy.
The different lettings options offered by Foxtons give you all the flexibility you need to get the most out of property you own. Plus, all our lettings include My Foxtons access, giving you real-time updates on viewings, payments, documents and tenant issues and more.
Short Lets
Short lets offer properties to rent from a few weeks up to three months. Greater flexibility and more lucrative returns are the main benefits of this type of let. Short let properties must be fully furnished to a high standard and are offered with all bills included in the rental price.
Who is it for?
- Sellers wanting to make money until the right buyer is found
- Landlords wanting a more flexible and lucrative option
- Corporate clients, media companies and insurance companies often use Short Lets
How does it work?
- Fully-managed tenancies from 3 weeks to 3 months
- Fully-furnished properties with all bills included in the rental price
- Tenants purchase consumables and pay phone/broadband costs
How much income could your property achieve as a short let? Click here for a quick, free online valuation.
Long Lets
The standard form of tenancy, long lets usually range from 6 months up to 3 or 4 years. Foxtons offers managed or unmanaged lettings. Whichever a landlord chooses, MyFoxtons allows for easy management of tenancies online, from checking documents and confirming or rejecting applicants to keeping track of tenant enquiries and payments.
Who is it for?
- Homeowners with a second property
- Landlords wanting a secure, long-term income
- Tenants looking for longer-term homes
How does it work?
- Managed or unmanaged tenancies of 6 months and longer
- Properties can be offered furnished or unfurnished
- 13,900 new tenants register with Foxtons every month – most seeking long lets
How much rental income could your property achieve? Click here to find out.
Property Management
While short stay and short lets always include property management, this is optional for long lets. Property Management takes all the hassle of managing a tenancy away from the landlord. Below is a table showing the extra services provided, compared with a standard unmanaged letting:
MyFoxtons
MyFoxtons is our unique online property dashboard that gives landlords total control over lettings. However you choose to let your property, MyFoxtons is the perfect way to manage the process, from viewings through to contract signings and on to renewals.
MyFoxtons benefits:
- Real time updates and figures on viewings on our site and Rightmove
- Keep track of all viewings appointments
- Sign, upload and manage all secure documents
- Accept and reject offers from tenants 24 hours a day
- Engage with and keep records of all transactions, queries and complaints from tenants
- View all feedback on your property from viewings and tenants
- Instantly check rent payments, fee charges and historical tenancies
Find out more about all our lettings and property management services here.
