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7 factors to consider when short-term renting luxury London apartments

Apartments | 5 MIN READ

Short term rentals are a popular choice amongst people who are working in London for a limited period of time. Why? They offer a greater degree of privacy and space than most hotels – and after a week, living in a hotel can feel a bit too anonymous. In a short-term rental apartment, you can bring many of your belongings with you, come and go as you please, and really make the place feel like home.

Furthermore, with a whole luxury apartment at your disposal, you’ll have a place to entertain family and friends who come to stay, as well as your new work colleagues. In this guide, we’ll take you through the important factors to consider if you are to find the best short-term luxury apartments for short term rent in London.

What Is a Short-Term Rent

If you’re wondering what the difference is between short-term rent compared to a standard rental agreement, the answer is not much. Short-term rental contracts tend to last from anything between a few weeks and roughly six months. Short-term renting is ideal for professionals who are staying in London for too long to simply book into a hotel, but not long enough to rent an apartment for a year or more.

7 Considerations When Renting Short-Term Luxury Apartments

Just because a rental contract isn’t particularly long term doesn’t mean you don’t need to do your research before signing on the dotted line. Just like with a standard rental contract, you’ll need to put significant effort into finding a temporary home that meets your specifications, you’ll need to tour different areas to make sure you’re living in one that’s a good fit, and you’ll need to make sure your rent is priced competitively.

Furthermore, London is home to an extremely competitive and fast-paced rental market, so you need to act fast and decisively if you are to find your dream home in this sprawling city. Read on to find out the most important considerations for renting short-term in London.

1. Decide where you want to live

London is a giant city, comprising a variety of boroughs, with each containing a number of neighbourhoods, all with their own distinct personality and characteristics. For this reason, where you live in London can make or break your experience in this world-class city. Your first consideration when seeking luxury apartments for short term rent should be proximity to your place of work: living nearby can seriously cut commuting costs and ensure your travel time doesn’t eat into your evenings too much.

Once you’ve worked out which areas are best positioned for work purposes, think about the sort of place you want to live. Would you thrive in a vibrant urban area, brimming with restaurants and bars? Or do you prefer leafy suburbia and independent stores? Perhaps you’d like to be close to London’s top attractions in order to make the most of the city while you’re there, or you’d love to live near its shopping districts? All of these considerations will factor into where you decide to live.

2. Check the average rental price for your chosen area

Now you’ve selected your preferred district, it’s time to look at the average rental costs. Rents are high in London, compared to the rest of the UK, but it’s easier to find affordable accommodation in some areas than others.

For example, Mayfair and Pimlico are both aspirational locations to live in, and within easy walking distance of each other. However, Mayfair’s reputation for everything upscale pushes up the rental prices in this area, while in leafy Pimlico, you can rent for less and have all of Mayfair’s attractions right on your doorstep. Of course, there are other factors that will affect whether your luxury short term rental apartment in London is cheaper or more expensive than the area’s average. These include:

  • Apartment size (one bed or two?)
  • Apartment features (For example, a terrace)
  • Quality of interiors
  • Whether the cost includes bill

3. Consider what is supplied and what isn’t

If you’re going to be living in your short term rental apartment for a few months, there are going to be some features you can’t do without. For instance, professionals who know they are going to be very busy at work may want a serviced apartment with housekeeping services. Others may only want to view apartments that come with washing machines, dryers, and dishwashers. You may also want to ensure that Wi-Fi or a Smart TV comes with the property as standard.

One thing that pretty much every short-term renter will have in common is that they will need to rent a furnished apartment. When you’re only going to be staying in the property for a few months, it feels pointless to bring all your furniture with you.

4. Make sure any agreements made at the time of the offer are reflected in the contract


If you manage to successfully negotiate with the landlord to bend some terms of the original contract – for example, keeping a pet or paying rent monthly instead of quarterly – it’s vital you make sure this is reflected in the contract you sign. If not, you won’t have a legal leg to stand on should the landlord suddenly turn around and say you can’t have a pet, or you must pay in bulk. In short, refrain from signing any tenancy agreement unless it is amended to clearly spell out any verbal agreements.

5. Make a plan for your belongings

If you’re renting an apartment for the short term, you may not want to bring all your belongings with you. It’s much easier to simply rent a furnished apartment, rather than attempt to furnish a home when you’re only staying there for a few months.

However, you will need somewhere to store your belongings. Family members and friends may offer space at their properties, or you could loan various pieces of furniture out until you get your next place. Alternatively, look at self-storage solutions. Here you’ll be given a locker and a key in exchange for a weekly or monthly fee. You won’t have to worry about your belongings until you go to pick them up.

6. Quality of interiors

When renting for the short term, getting the length of your tenancy right can be a delicate balance. For instance, if you’re going to be in London for work for six weeks, you may want to rent a place for two months, allowing you a little time on either side of your stint at work to settle in and move out. Make sure you’ve considered all eventualities before signing for a certain length of time. Check if the landlord might be able to be flexible with your tenancy length too, as this could take a bit of the pressure off should you decide to stay on or leave early.

7. Take all costs into account

There are costs beyond just your rent to consider. The first step is to find out which bills are included in your rental fee. Then look at the commute to work and budget for transport costs too. Will you be buying lunch every day? Are you planning to embrace London’s nightlife or foodie scene? Think about how much money you’ll need in order to make the most of your time in London.

Only then will you see how much money you should be able to comfortably spend on rent each month. Bear in mind that opting for a short term rental is likely to work out significantly cheaper than staying in a hotel room for months too.

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Conclusion

The competitive London rental market rewards effort when you’re looking to rent an apartment in the short term. Take the time to properly plan your apartment hunt, and set out your firm criteria for your ideal temporary home, and you should spend a few very comfortable months in the UK capital.

If a short-term rental rent apartment appeals to you more than the idea of returning to a sterile hotel room night after night, take a look at Dolphin Square’s exquisite apartments in well-heeled Pimlico. Alternatively, if you’d like to do a bit more research before diving into your apartment hunt, read our guide to finding the best short-term let apartments in London