In April the number of short term lets offered rose to over 6000 properties, 41% of the accommodation currently listed on the Easyroommate.co.uk website, whilst in November 2011 the figure stood at 39%.
Jonathan Moore, director of Easyroommate.co.uk, comments:
"A short term let is a great way for homeowners to boost their income without the long term commitment usually associated with the average tenancy, our figures show that a growing number of our users are switching on to the freedom short term let's provide.
Whilst a normal tenancy within a flatshare typically lasts a year, a short term lets can last from one week up to six months, and is typically used to fill rental voids. The short term option is extremely popular amongst live-in landlords, with 44% of the short term lets listed on the Easyroommate website during April being offered by live in landlords, they are closely followed by current flatmates, who attribute to 35% of the short term lets available."
The trend of offering short term lets predominantly tends to occur in major UK cities. Of the 6029 short term lets currently listed on the Easyroommate site the majority are located in London (21%), Manchester (3%), Birmingham (3%), Bristol(2%) and Leeds(2%).
Jonathan Moore continues:
"Whilst short term lets are offered throughout the UK, the majority can be found in major cities. This can be attributed to increased numbers of people relocating for career purposes, and requiring immediate accommodation. Short term are a fantastic way to allow tenants to move to a new area without committing, and more and more property owners are becoming aware of this."
Easyroommate user Justin King, a landlord from Brighton states:
"I find renting out my spare room as a short-term let is the best option for me. It allows me to ensure I have a tenant during traditionally quite periods and it has also allowed me to meet lots of really interesting people."
Whilst Alice Walker, who regularly uses short term lets comments:
"I use short term lets to live in a friendly, affordable environment without feeling tied down."
The latest figures also reveal that two-thirds of the total number of short term letting listing on the uk.easyroommate.com were offered by professionals, with the number of students trailing behind at only 7%. Short term lets are also more popular amongst individuals aged between 26-30, closely followed by those aged 31-35 and 21-25 years old. This clearly demonstrates that short term letting is seen as a favourable option for individuals looking to reduce their accommodation costs without commitment.
