Airbnb is an online marketplace connecting people who wish to rent out their homes with people looking for lodging in particular areas. The business has advanced significantly since 2007 when its co-founders first had the notion of allowing paying visitors to spend the night on an air mattress in their living room. The most recent data from Airbnb shows that it has over six million listings, which span more than 100,000 cities and towns and more than 220 countries worldwide. In this article, we will explain how Airbnb functions and how you can assess its possibilities as a host.
What Will the London Airbnb Market Look Like in 2023?
Almost 10 million people in the UK (roughly 1 in 5) have considered renting their homes for vacations. The statistics of Suffolk Building Society may not be so shocking given the surge in staycations and the fact that many people have already put those ideas into practice.
Given that international travel is once again anticipated, those who have not yet signed up for Airbnb may be wondering if it is a ship that has sailed. Where does the great British staycation – and the Airbnb home investment industry – stand now that some of us have been fortunate enough to dust off our passports already or have travel plans abroad? It is fairly well-maintained after it is done. According to early indicators, short stays are still in high demand in the UK. Compared to the same point in 2020 and 2021, Sykes Holiday Cottages’ bookings for the year as of February were up 22% and 158%, respectively.
However, the Welsh Government proposes a council tax premium on second houses as of 1 April 2023. Thus, things will change in the latter location. Owners of extra properties, including those who have purchased a specific Airbnb, will pay up to 300% more in council tax than the current 100% rate. This action is intended to prevent vacation rental speculators from seizing control, stabilising property values, and allowing Welsh locals to purchase where they were born and raised. If successful, this model might be used in other places where there is an ownership imbalance; this is important to keep in mind if you’re looking for potential investment opportunities.
People will always need ultra-short-term housing for various reasons, such as business trips, family visits, when obtrusive work is being done in a primary dwelling, and when there is a lag between purchasing one property and moving into another. Due to these factors, there are very few places where Airbnb won’t find a market.
We Can Help You Outsource Your Property at PTP
We manage crucial handovers and meet with recipients in any part of the UK. At PTP, our enabled services are an Airbnb investor’s best friend in addition to our straightforward online booking and feedback dashboard, particularly if your home has a high visitor turnover.
You can reserve our services so that we can assist you with welcoming visitors, handing out keys, inspecting premises after a stay, and retrieving keys after a booking. Additionally, we can provide a key safe at your Airbnb, offer a secure key-holding facility nearby, and offer a “let in and lock up” service if you have planned maintenance or trades scheduled.
Contact us at PTP if you’re considering investing in Airbnb. We can help you along the way, from when you begin looking for a suitable property until the busiest holiday season. Even during winter, when maintenance is the main priority, we can be your eyes and ears. Contact us right away.
