There's no reason to have any void periods in 2018 with Portico Host.
At Portico we can look for a tenant for you while we rent your property out with Portico Host on Airbnb. Or if you want to maximise the seasonality of higher rents during the summer, why not use our short let solution before finding a longer term tenant?
Since 1st January 2017, “entire home” listings on Airbnb in Greater London have been limited to a maximum of 90 days occupancy per calendar year.
The good news is, the 90 day limit resets every year on January 1st - so if you’re considering Airbnb, or if you’ve been waiting for your days to reset, now is the time to get organised!
Here we look at the best ways to utilise the 90 days...
I’m a landlord. How should I use the 90 days to maximise my rental income?
Avoid void periods
Airbnb is a fantastic tool landlords can use to minimise or completely cut out void periods. If your property is currently vacant, or is soon to become vacant, our Portico Host Account Managers can list your property on Airbnb while our front offices search for a long-term tenant.
That way, you will achieve up to 50% more than you would on a long-term let, (the average 2 bedroom property commands around £150 a night), while avoiding any void periods.
My property is occasionally vacant. How should I use the 90 days?
If you know you’re going away in 2018, spending weekends at your partner’s house, or away a lot for business, get in touch today to find out how we can help you earn on Airbnb without the hassle. Prices tend to increase dramatically during peak occasions, such as Christmas, New Year, bank holidays and generally on weekends too - so there's lots of money to be made if your home is often vacant.
We’re proud to say that we’re the company which manages properties on Airbnb with decades of experience managing properties across London. And as a large London property agent, we already have the infrastructure in place to make things easier for management. We offer three different management packages, starting from 15% plus VAT.
Better still, we operate in Zones 1- 3, accept both rooms and entire properties and have no minimum requirement for the amount of time you use our service. Read about the 10 reasons to choose Portico Host.
Can London Hosts get around the 90 day limit?
We recommend that Hosts stick to the 90 day limit before switching onto a long-term let. However, we often get asked by clients if there's a way of utilising Airbnb all year round. Here's what Alison Broderick, Planning Manager at Platinum Property Partners had to say on the matter:
“London property owners can apply for planning permission from their local council for a material change of use to “temporary sleeping accommodation”. This is different to property use class of C1 (hotels).”
If you are considering going full time with Airbnb and submitting an application for planning permission, remember to check the following:
- If you are in a leasehold, check whether your freeholder allows guest house licenses
- Check with your mortgage provider that you are permitted to convert your property, as they will be informed during the application process and may disallow it
Does this vary by borough?
Alison states that “The attitude towards granting planning permission to Airbnb full time does vary from one London borough to another. Some local authorities seem happy to further relax the 90 day rule to drive tourists into the City, while others are concerned about losing long-term housing to hotel-type accommodation.
Searching planning applications in Westminster council shows that all of the most recent applications to use flats or houses as “temporary sleeping accommodation” were refused due to potential loss of permanent residential accommodation. Camden council also state they will look to ‘resist’ such development. However, each application must be assessed on its own merits, and just because one has been refused doesn’t mean they all will be.
Specialist advice from a qualified planning consultant would be advised for anyone wishing to pursue this route.”
Does you know of any case studies?
“I haven’t personally dealt with any but I have seen a couple of planning applications in Kensington and Chelsea borough granted.” Alison Broderick, Planning Manager, Platinum Property Partners.
Give us a call on 0207 099 4000!!!!!!!!!!!!! to find out more about our management service, or click here to find out how much you could earn.