In a recent survey we conducted, 90% of landlords said they would use Airbnb to short-let their property. This growing trend has seen landlords increasingly use both Airbnb for short-lets and estate agents for long-term tenants collectively, to avoid rental voids.
There are many benefits to using the service for landlords. It offers a solution to an empty property and lapse in revenue between long-term tenants and it gives landlords more freedom to buy or sell their property when the time is right for them instead of waiting out tenancies. Also, Airbnb’s reputation and popularity means the audience are already there and searching for the London properties so guest stays can be organised quickly and easily.
Due to the growing popularity of the scheme, rules and regulations, such as the 90 day limit in London, have been put in place to protect tenants and stop the scheme from causing drastic changes to the rental market in London. Interestingly, 58% of landlords, in the survey, did not know about this new legislation.
To make the use of Airbnb and long-term lettings easier for landlords, over the last 12 months we have started offering landlords ‘Portico Host’, an Airbnb management service in London for them to advertise their property through Airbnb.
The team manage everything from the setup of the property, photography, to professional cleaning and guest communication throughout their stay.
“It made excellent sense for us to step over from our sales and letting position into property management services,” said Mark Lawrinson, Regional Director at Portico. “We know London, we know the market, we know how to best help landlords and we have all of the services already set up within our workflow. Portico Host has been running in London for a year and we aim to double the number of properties we host in 2018.”
From February 2018, our 18 offices across London will offer walk-in advice and information about Portico Host so visit your local branch for more information, go online or give us a call on 0207 099 4000 !!!now!
In the meantime, if you're looking to value your property before you decide your next steps, why not take our quick Instant Valuation or speak to a member of our team now.