Putting your property on Airbnb is something you might not have considered before, but may be a fantastic option for utilising your empty property and earning you a little extra cash at the same time. Whether you’re a landlord who usually long-term lets their property or someone who travels a lot for work or stays with a partner often, there are many reasons you could find yourself in a situation to Airbnb your home.
Either way, whether this is the first time you’ve thought about it or not, your area could be offering fantastic short let yields, so now may be the time to consider it. And with an Airbnb Management Company, going on Airbnb doesn't have to be time-consuming or complicated to set up.
Explore the five areas of London which are most successful for Airbnb-ing your home right now and get in touch with our Portico Host Airbnb Management Team now to see just how easy it is for us to set you up!
Within London, according to AirDNA data, the Average Daily Rate of an entire property Airbnb sits at £135, with an Average Monthly Revenue of £2098. The Average Monthly Occupancy is 76%. Looking at these averages, the five best performing London boroughs are:
A popular area of London for visitors, the Borough of Camden covers Camden Town, Regent’s Park and all the way down to Tottenham Court Road and Covent Garden. The area is always bustling until about mid-October before picking up again for the winter visitors who flock here to shop on Oxford Street.
Average Daily Rate: £153
Average Monthly Revenue: £2558
Average Monthly Occupancy: 77%
Booked properties in Camden in the previous month are 8% of overall booked properties in London
Best performing areas: Hampstead Heath, Kentish Town Road, Camden Town, St Pancras, Goodge Street, Shorts Gardens and Clerkenwell Road.
An example of a well-performing Airbnb in Camden is this three bed flat, close to Camden Town.
2. City of London
The City of London is an extremely in-demand area on Airbnb year round due to the amount of large corporations based here, for which high numbers of workers travel in from foreign strands of the businesses. Therefore The City will always be in need of Airbnb properties, which is likely to drive up price and demand.
Average Daily Rate: £159
Average Monthly Revenue: £2844
Average Monthly Occupancy: 75%
Booked properties in City of London in the previous month are 0.7% of overall booked properties in London
Best performing areas: Fleet Street, Chancery Lane, St Paul’s Cathedral, Fenchurch Street and Spitalfields.
An example of a well-performing Airbnb near The City is this one bed flat in Old Street.
Home to bustling areas such as Clapham and Battersea, Wandsworth is a great area for Airbnb. With great transport links and being well-known for their village-like feel and gorgeous Victorian terraces, these lively areas are popular, and therefore a great spot to Airbnb your property.
Average Daily Rate: £130
Average Monthly Revenue: £1946
Average Monthly Occupancy: 76%
Booked properties in Wandsworth in the previous month are 4% of overall booked properties in London
Best performing areas: Battersea Power Station, Nine Elms Lane, Clapham Junction Station, Wandsworth High Street and Northcote Road.
An example of a well-performing Airbnb in Battersea is this three bedroom house.
It’s no surprise that this central location is popular, being within walking distance of most of London’s main attractions, such as The London Eye, Trafalgar Square and Big Ben. All year round, people are hunting on Airbnb for a handy location such as this, so Airbnb-ing your home here is likely to be a high revenue driver.
Average Daily Rate: £170
Average Monthly Revenue: £2755
Average Monthly Occupancy: 73%
Booked properties in Westminster in the previous month are 14% of overall booked properties in London
Best performing areas: Warwick and Ecclestone Squares, Vauxhall Bridge Road, Brompton Road, Soho, Edgware Road and north of Hyde Park.
An example of a well-performing Airbnb in Westminster is this one bedroom flat.
5. Kensington and Chelsea
Lastly, Kensington and Chelsea showed high demand on Airbnb. Visitors are definitely looking to find a classy place to stay in a classy area, within walking distance from museums, eateries, high-end stores and Hyde Park. If you have a property here, short-letting it for some time could give you a quick, high rental income.
Average Daily Rate: £165
Average Monthly Revenue: £2652
Average Monthly Occupancy: 70%
Booked properties in Kensington and Chelsea in the previous month are 8% of overall booked properties in London
Best performing areas: Portobello Road, Pembridge Gardens, Cromwell Road, Sloane Avenue and Kensington Olympia.
An example of a well-performing Airbnb in Kensington is this two bedroom flat.
If you’re considering putting your home on Airbnb this summer, find out how Portico Host could help you - and for a limited time only, you could qualify to use our Special Summer Offer, valid until 31st August.
So if you’re away this summer and want to earn some money to pay for your holiday, sign up now! Ask the team for more details today on 0207 099 4000 or !!!check out the value of your property as a Short Let or Airbnb listing with our Instant Valuation Tool.