Short-term rentals aren’t everyone’s cup of tea, but they do fill a vital role within the market. Usually covering a period of six months or less, they provide rental accommodation for those finding their feet in a new location, or working away from home for an extended but not permanent period.
Research by London rental platform, Rentd, has revealed where London’s short let rental hotspots are, providing short-term tenants with the greatest level of choice when it comes to rental stock.
The market analysis by Rentd shows that there are some 66,641 short-term rentals currently listed to let across the London rental market.
Westminster is the capital’s short-term rental market hotspot, with 11% of all available short-term rental properties found within the borough.
Tower Hamlets ranks next, accounting for 8.3% of London’s short-term rental availability, followed by Hackney (7.7%), Camden (6.8%) and Kensington and Chelsea (6.8%).
In contrast, Havering, Sutton and Bexley are home to the lowest levels of short-term rental availability, with each borough accounting for just 0.4% of total short-term stock each.
Ahmed Gamal, Founder and CEO of Rentd, commented: “Short-term rentals form an integral part of the rental market and for many, they are the vital stepping stone between moving to a new town or city and finding that perfect long term rental property.
“For others, they provide a preferable option to hotel living when working away from home for a prolonged period and providing this flexibility is as important as the need for long term rentals within the sector, perhaps more so in major cities such as London.”