Airbnb management and renting your London property have hugely evolved and expanded very quickly over only the last few years proving to be a great source of additional income and making more space available in London for rent. As well as facing a shortage in short term space to let, London is also a top touristic destination, so the more we can utilize unused space the better.
Under the governments sharing economy drive there are new proposals to further support Londoners letting out their homes, flats or even a spare room on a short-term basis.
The very unique feature of Airbnb management is that it allows the tourists visiting London to live just like a ‘local’ rather than staying in bland over-priced hotels.
Even during the London Olympics in 2012, thousands of properties were rented out through Airbnb property management for a few weeks to providing extra space and also during other popular events such as during the Wimbledon Tennis tournaments.
A typical UK Airbnb host can earn as much as 2,822 pounds a year by renting their property for just 33 days. For guests residential homes provide a much cheaper accommodation and better value than the average hotel, bed and breakfast or guesthouse.
Airbnb provides a way to relatively securely and conveniently rent out a person’s home while they are away or traveling which ofcourse is a welcome way for hosts to help cover their travel or living expenses in London.
Airbnb has established a strong presence and foothold in all the areas of London and the surrounding area. In fact Airbnb is not limited to zones 1 & 2 in London but reaches out beyond Greater London. In 2013 alone, it was estimated that Airbnb generated a massive US$824 million in economic activity in London and the UK and has supported close to 11,600 jobs.
Almost 80% of the Airbnb hosts in London rent out the home that they currently live in and in turn utilize the money to support increasing costs of living and expenditure.
Airbnb also supports and nurtures innovation and entrepreneurship throughout the country by supporting hosts who are self-employed or even freelancers. For people with flexible lifestyles & working schedules in London this is an ideal opportunity to combine this with renting out your home to support your living expenses or even support a lifestyle with greater financial freedom.
Tourists in the UK tend to stay longer while visiting UK as there is so much to explore and normally spend much more time in UK than in most other counties. On an average, a tourist to London stays for about 4 nights and which amounts to $1,496 per visitor.
Staying in expensive hotels for a prolonged period of time may not be practical and affordable for many travellers. This is where Airbnb comes in.
Airbnb London provides an authentic, local and unique experience living in a real English home with the big plus that it works out to be a lot more affordable than staying in classic commercially rented accommodation.
So you can see how Airbnb from a financial perspective is beneficial for both hosts as well as guests. Staying even in an average hotel will cost much more while offering less in terms of space and amenities to use during your stay, such as use of the kitchen to cook at home rather than expensively having to east out all the time.
Most Airbnb properties in London are also located close to the main hotel areas which in turn are close to the tourist spots or conveniently located with good transport links to get around and explore the city.
Airbnb is giving tourists better and cheaper options to enjoy the wonderful city of London as well as providing an economic boost to the residents at the same time.
Please get in touch with us at HelloGuest if you would like to explore renting out and having your place managed on Airbnb or you are just seeking supporting services.