Over the next 12 months, well over 3 million homeowners in the UK will be looking to rent out all or part of their property for a short period of time, with short-term house swaps also becoming increasingly popular amongst property owners. A huge number of homeowners already rent out rooms in their property, looking to make extra money during certain periods of time. For some, this is by renting out rooms to students looking for somewhere quiet to study whilst at university, whilst for others, these short-term rentals are to help them maximise the opportunities afforded by specific events, from the Edinburgh festival and Wimbledon through to their own desire to travel the world. As such, these short-term rentals can be as long as a few months or as short as just a few days.
Whilst these short-term rentals can help generate some much-needed extra income, there can also be many issues encountered by property owners renting out their homes
or rooms in the short-term, and in some cases the long-term costs can add up to far more than the short-term gains.
A recent survey found that around 70% of individuals who had rented out their property had returned home to find their property damaged in some way. Whilst the average cost came in at just over £300 for necessary repairs, around 14% reported paying out over £1,000.
It is also not just aesthetic damage that needs to be considered. In just under a quarter of incidents, plumbing, heating or drainage issues were encountered by those returning home to a property let out for just a short period of time. Whilst plumbing or heating issues may be instantly obvious, certain damage to drainage systems may not be quite so easy to spot.
Since certain types of damage will be very difficult to notice immediately, those returning home after renting out their property should always take the time to fully inspect every inch of their home. When it comes to drainage, this could be extremely tricky, as the problem may very much be out of reach for you. However, for those who notice even slight smells emanating from plugholes, it may well be worth getting in a professional company to take a look.
Should pipes have become blocked or damaged during your time away, not only might unpleasant smells be an annoying consequence, but such issues could become exacerbated over time and lead to far more costly and troublesome issues.
As such, those returning home with any suspicions of such hidden damage should always get things checked out right away. In the case of drainage systems, it may well be far easier and cheaper to get pipes checked, unblocked or relined on arrival than it would be to replace entire stretches of drainage systems later on.
Whilst renting out properties in the short-term can lead to a very welcome injection of cash, it will be vital for homeowners to vet their tenants thoroughly and to ensure that their homes are both well-protected and fully checked upon their return.
Author Bio: Alan Holmes is a freelance writer and blogger. He regularly writes articles about the property market and drainage systems, using sites such as Jethrough to stay up to date with all the latest industry news and developments.