How much can you make from Airbnb in London?
Short-term rentals and lettings have dramatically increased Â and with this the potential to earn more ever since Airbnb has become a way of living from the time of its inception in 2008.
From Property owners to entrepreneurs, and everyone in the middle has enthusiastically taken to this entirely new style of doing business- the sharing economy as itâ€™s aptly called.
London is the No.1 (main video link here) most visited city in the world since the past 3 years and has the 3rd highest occupancy rate with Airbnb with one of the lowest seasonal volatility- which means London is 365 year round- and your potential to earn becomes far better in such a scenario.
How much can you truly earn?
The average rates around Central London looks like this
What exactly is Airbnb and how does anyone make money out of this is the most commonly asked question?
Itâ€™s a digital platform that allows anyone and everyone (mostly ordinary people like us) to rent out our property or our rooms (depending on the space available) to travellers and tourists visiting our cities no matter where we are in the world. And we get to charge them for their short-term stays.
All you have to do is create a profile on Airbnb with loads of great but real pictures of the property/space you intend letting out, do some research on the kind of pricing in your area- and accordingly fix a price to your abode.
Airbnb takes care of the payment aspects- the paperwork, the bookings and whatâ€™s more- you get a great insurance deal (up to Â£600,00 or $1 million)Â
What are the top 3 reasons to Airbnb your home?
We could list a â€˜hostâ€™ of reasons- pun intended.
But the top 3 we figure easily makes the most common sense.
Ease and Flexibility is number 1– where else are you (the property owner) going to have it this easy to make regular and decent earnings without any major risks involved? You can choose the time, the month, the frequency of how often you wish to rent your space out and then have it back whenever you want.
More Money better lifestyle!- We could have easily listed this as no.1 but then itâ€™s not all about the money is it? Itâ€™s all about a lifestyle- and the ease with which you can truly have it. So if you wish to travel for a few months, or take that course in Spain, or just soak in some culture in Asia- and yet make money on your property- which pays the mortgage, the bills, covers your travels and yet manage to save over- how cool is that! Would you or not?
Hassle Free- In a truly connected global economy what we all wish for more and more is less stress on doing things- or doing business even. With Hello Guest- we manage your listings and look at every other aspect whilst you go off and say Hello to the World.
So really what is needed?
It can be as basic as a spare room, a studio flat, or something adventurous like a houseboat, a caravan on wheels or opulent like a 75 bedroom castle, or cool digs with a city penthouse or loft overlooking the lights.
But having said this- there are some key factors that will make your property much more appealing to any guest looking to stay over.
As we very well know that â€˜experienceâ€™ is what counts- and anyone having a great experience is not only sure to come back but also spread the word.
How one manages â€˜listings and great guest experiencesâ€™ is key here. And guest experience is nothing but how well-managed it all is. From the time the guest checks in until check out- fresh linens, clean house, well-stocked bathroom, kitchen amenities, a welcome goody bag, information manual all make a huge difference in experience.
And with a few very professional and world-class property management outfits available with Airbnb- your job is even simpler- as all you have to do is partner with the right kind of company that genuinely cares for you, your property, the guest experience and your earnings.
The other key factor is â€˜What kind of property you haveâ€™?
Does it have a great view? Is it conveniently located with easy access to public transport? Whatâ€™s the quality of the building etc etc.
Let’s talk about London here since we are primarily focused on this city.
We have seen over time that most travellers prefer to book a place that is in Zone 1 or Zone 2 and a few selected areas outside these zones; but prime Central London is truly where the action and the buzz is for tourists.
You can tap in the postcode, area code or location into Airbnbâ€™s search facility and youâ€™ll quickly get a sense of what properties go for in your area.
So what are you waiting for? Get in touch with us here, and go take that dream vacation leaving the Airbnb hassles to us.