How much more profit UK hosts earn via short let
The sharing economy is trendy. Over the past seven years, Airbnb has been providing an alternative to the traditional letting models and replaced them with short-term lettings. With an attractive Airbnb listing in the right city, you can earn more than the double the long-term let value.
Where is best? We wanted to know how much more profitable short-term letting is than long-term in London, and also in other UK cities where Airbnb has had a significant impact. Pass The Keys has the numbers for every city in which it is operating. So far this includes London, Bath, Brighton, Bristol, Cambridge, Edinburgh, Manchester and Oxford. Find out how much more money you could gain with an outstanding listing on Airbnb from Pass The Keys.
The difference between the letting models in the average income is huge. It ranges from 76% in London to 240% in Bath. Cities with a low-cost of living stand out as the most lucrative and attractive cities for new Airbnb hosts. There is also significant potential in Edinburgh, where the additional revenue when short letting via Airbnb is 144%. Due to his famous festivals like The Fringe and The Hogmanay, it attracts millions of people every year. According to Airdna, both Oxford and Cambridge have an Airbnb occupancy rate of almost 90%. This demonstrates the capacity for the further supply of new listings in the home of the oldest universities in the English speaking world. With an additional revenue of 140% per month in Bristol and Brighton, you shouldn’t miss the chance to list your property on Airbnb to gain this potential income.
According to the data, it seems that adopting the Airbnb letting model is well worth taking into consideration for UK landlords. Airbnb is in demand, and that won’t change anytime soon. In every UK city, there is still room for higher supply.
Crucial to being a successful host is knowing how to make your listing stand out from the crowd. Many hosts use an Airbnb management company to help them with this, as well as manage their property to make the whole process hassle-free. The increase in income compared to the 12% management fee that Airbnb management companies charge their hosts means that you are still much better off than with a long-term let.
The hosting guide demonstrates to you how to find the right title, how to take photographs and how to set the right price. Make your listing unique to stand out. Catch the attention of the guests with a sympathetic profile picture or a unique ambassador for your listing.
Source: Airdna and local property databases