Cutting out the daily commute by renting closer to work can be a wise move. For many, it means accepting a better job and not moving the family. For others, it can be spending weekends with mum and dad to save on bills. But the real winners are the Liverpool landlords. Weekday letting offers a lot of security and only attracts professional, employed tenants.
What does weekday renting mean?
The weekday rental usually means a Monday to Friday rental, but can also be more or fewer days. The typical model is the old ‘lodger’ variety, with the tenant taking the spare room while the owner lives in too. And everyone’s doing it. However, more people are engaging in a sort of home swap too. If you are also a weekday renter in another city, why not rent out your empty apartment in Liverpool in-between?
In Liverpool, weekday rentals first took off around 2013. At that time, SpareRoom reports around 100 adverts. Since then, that figure has risen to 350. This is hardly surprising, as the system has become popular across the UK.
Whose market is it?
However, while the number of lets offered has increased in the last five years, something strange has happen in the last year. The number of tenants posting ads has fallen 17 percent. To many, this is seen as a bad sign, but many argue, it’s easy to see the demand is still there.
Professional landlords claim tenants are no longer posting ads because they don’t need to. Landlords have become much better at meeting their needs by offering much more information about properties online. It’s not unusual these days to come across a video created using property inventory software. This gives renters a great idea of how the property really looks.
So if you’re just renting out a couple of spare rooms, or if you’re managing several properties this Property Inventory Software can really help. After all, just because your traditional rental property could be rented out 365 days a year, doesn’t mean it must. If you find a great tenant who only needs it for five days a week, this works just fine too.
But staying competitive is still key. The number of weekday tenants out there might not have dropped, but the number of offers has risen.