Ever thought about using Airbnb?
Portico Estate Agents have found that the average London property rented through Airbnb generates £106 a day, the company have also launched its very own premium Airbnb management service.
Average Airbnb rates vary in London, Westminster takes in £224 a day whereas Bexley see a reasonable £65 a day.
An average 2-bedroom property rate of £106 in London will bring in a healthy monthly sum of £2,226, this is on a 70 per cent occupancy rate.
Some properties can even achieve an 80 per cent occupancy rate, Airbnb listings can receive a booking within in one week so hosts can start earning right away!
Westminster currently holds the top spot, the number of active listings it has sits at 5,631, Tower Hamlets follows close behind with 5,076 listings and Hackney currently has 3,572 active listings.
Brent and Newham also have a lot of active users, this is due to the fact that Brent’s most famous feature is Wembley Stadium.
Newham is popular for being close to the Excel Exhibition Centre.
Merton is also in high demand as it sits close to Wimbledon, it currently only has 642 active listings in the area, the average two bedroom Airbnb rate here sits at £95 a night. However, these numbers are expected to rise with seasonal demand.
Robert Nichols, Managing Director, Portico, said: “Londoners in their thousands are turning to Airbnb as a way to generate extra income. And despite the 90-day limit, even seasoned landlords are coming round to the fact that a combination of Airbnb and traditional tenancy will maximise their return on investment.”
“If your property becomes vacant in the quieter months, we recommend listing your property on Airbnb and synchronising your tenancy to start a long-term let in the summer or late summer when demand from tenants and therefore prices are highest.”
“Or, if your property is already on the market, why not earn on Airbnb until you let or sell it? Every day it’s sitting vacant is potentially losing you money, so it really does pay to get on board with Airbnb in short-term.”