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Across the world, Airbnb and other services alike are branching out and London is a destination which is at the top of many tourist lists. In fact, in 2018 London saw approximately 40 million arrivals, excluding domestic travellers. Additionally, a growing number of adults (28%) in the UK used a peer-to-peer service last year. There are untapped revenues in the relatively new short-letting sector and its waiting for you.
Here are our reasons as to why you should short-let your property in 2019.
Let their holidays pay for your holidays
As mentioned above, London is one of the most visited cities in the world, so why not take advantage of this? The financial benefit it can bring is the main reason most of our hosts short-let with us. To give you a taste, a two-bedroom apartment in Kensington can earn around £4000 per month, that’s £48000 a year. What’s even better is £7500 of this is tax-free, each year, under the Government’s Room to Rent scheme. Additionally, this is without using our smart pricing programme, which automates prices and helps increase earnings by taking into account a range of factors including seasonality and demand.
Provide an unforgettable experience
Think about your favourite travels and what made them so great. Likely, it’s a mix of fantastic service, location, weather and the hotel/apartment you stayed in. Opening your home up to guests from around the world, and providing them a place where they can feel comfortable lets them make the most of their London adventure. Feel good knowing your home has made someone’s trip truly unforgettable.
Grow your community
Allow guests to see a truer London; the local oddities, quaint coffee shops and other shops and stops that may not be on the traditional list of a London tourist. By opening your home and your community to new people from all over the world, you’re not only bringing new adventures to them but new opportunities to your local neighbourhood. Growth and increased spending/interest in your area will benefit you when you’re living there.
London’s events are rising
Finally, the rising number of events here in London, whether that’s large O2 acts and Winter Wonderland at Hyde Park or small niche attractions, further increase the value and potential of your home. It’s a great opportunity to facilitate leisure and corporate guests, while you may take a small break yourself; all paid for of course. Offering an alternative, more honest stay over a corporate hotel is a trend that is here to stay.
Don’t let short-letting pass you by in 2019 – you won’t regret it. City Relay is already seeing a huge demand for bookings for our hosts this Easter and Summer. If you think we may be able to help you too, please get in touch at info@cityrelay.com or enter your details below for your property’s rent estimation!
