Since the arrival of Airbnb the platform has revolutionised the vacation rental industry. The platform has been able to sustain traffic into urban locations that rarely saw London short let properties. Now there are numerous locations to choose from if you want to invest in a vacation rental. For example central locations within London are available for investment, ideally bulk locations where you can short let numerous apartments within one-location permits easier operations aspects for management.
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What is important for you?
With so many various options available you need to decide what is most important for you depending on your lifestyle. Do you require a Property that will generate the optimal level of ROI or a location near your primary residence. For example the Shoreditch area within London is a very youthful locality, so do you want to attract young travellers or tourists- this location would not be ideal for business travellers due to the busy nightlife schedule.
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How and who will take care of your London short let properties?
Now it is time to think about how you are going to manage your London short let Properties. A vacation rental host needs to be able to accommodate the guest needs during their stay, the turnover of guests for each booking made and also maintaining the property to a great standard allowing you to attain those Five-Star reviews. However keep in mind if you utilise the do-it-yourself service you need to be located near property location, furthermore it is key to have the time needed to maintain all the property aspects. We offer hands-off services taking the stress away from managing your properties. Ask yourself how involved do you want to be when short letting your properties, if you don’t want the pressure dealing with problematic guests and collecting payments our hands-off management service is for you.
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Educate yourself on the regulations
Before you decide to invest in a property to short let you need to educate yourself on the various regulations and legislations in place. For example for Airbnb London the 90 day rule is essential. This is means you are restricted to having an occupancy rate within a calendar year to only 90 days, after you short let your property for 90 days in the calendar year your property listing will automatically be closed by Airbnb. Furthermore you need to look into the Deregulation Act.
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What is a suitable rental income rate?
Depending on the location and specification of your property, you can decide yourself what the price per a night should be or alternatively you can use the Airbnb recommended price. We recommend researching other similar properties listed on Airbnb London, after that you can decide whether to price skim the competitors rates or match their rates.
Arranging out your main concerns, understanding the work involved, and being conscious of your potential community are all crucial factors in regulating whether or not you’ll generate the rental income you are aiming for.
For more information on Premium Airbnb London Property Management please contact us at [email protected] or visit our website www.winwinnkeeper.com
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