Wimbledon has started and finally the sun is shining which sparks the influx of international and domestic visitors to London. If you’re going away for the summer or suddenly have a property vacant, this is the peak period to get those Airbnb guests in! So, here are our top five things you need to know about putting your property on Airbnb.
1. Can I list my property just while I am on holiday?
Absolutely yes is this answer. There isn’t a minimum number of days you need to list and making your property available while you are away could be a great way to earn some cash. If you want the reassurance of someone managing the property on Airbnb so you can fully enjoy your holiday, Portico Host is our Airbnb management service. We’ll manage everything from guest communications to cleaning and linen.
If you know a friend who is away this summer and might be interested, refer them our way and you might be eligible for £150 of vouchers! See Terms & Conditions.
2. Can I do Airbnb all year round?
In London there is a 90-day restriction on renting your property through Airbnb within the calendar year. However outside London, in other cities such as Liverpool or Manchester (where Portico Host operates) you can do Airbnb all year round. We have recently created a set of services for people to enable you to purchase properties in Liverpool and Manchester and run them on Airbnb all year round, called “Portico Portfolio”. With this you’ll have access to tax advice from Accounts & Legal, access to our specialist team in the north who can source the best properties for you, and we’ll even source a suitable mortgage via Portico Finance for you, to enable you to run it as an Airbnb investment! Interested? Give our New Business team a call 0207 099 4000 or email firstname.lastname@example.org
3. Will I really make any money?
Currently there are about 67,000 listings on Airbnb in London and the average daily rate is £120 (AirDNA, July 2019). Daily rates can really peak during July and August and vs a long-term daily rental rate can achieve 50% to 100% more! Even with other costs in terms of management fees and bills, you’ll likely see a better return. In Liverpool and Manchester these can translate into double digit yields, if running Airbnb as an alternative to a long-let tenancy.
4. Will my property get damaged?
It’s important to have complete peace of mind when listing your property on Airbnb. Although Airbnb offer a “Guarantee”, it is not an insurance product and therefore Airbnb decides to pay out or not. With our Comprehensive Portico Host service this includes a specialist insurance product, run by Guard Hog. This means you are fully insured for every day your property is rented out to a paying guest which includes ensuring home and building insurance is valid, public liability, theft and damage.
5. How quickly can I get my listing live?
Call our team today and they will arrange a visit to the property to assess what is needed to ensure it is Airbnb ready and give you an accurate forecast of daily rates. Our teams always aim to get you up and running within two weeks but this depends on the property. If it’s in great condition and ready to be vacated we’ll get it live as soon as possible.
Refer a friend or get your property listed now. Just call 0207 099 4000 or email email@example.com!!!!!!!!!