There’s a good reason why property owners throughout London and the rest of the country are turning to the short-term rental market on sites like Airbnb: Letting homes and flats via Airbnb is more profitable than ever before.
Here we’ll look at the latest Airbnb statistics, as well as how Portico’s new Airbnb management service, Portico Host, can help homeowners and landlords make a living through their property.
Interested to find out how much your home would make on Airbnb each night? Try Portico’s instant Airbnb valuation tool.
Average monthly revenues for Airbnb Hosts in London, Liverpool and Manchester
In London, the average Airbnb host earns an average of £142 per night. That figure increases to an average of £153 during the month of July. In fact, landlords and homeowners who rent their properties via Airbnb earn an average of £1,124 more in July than they do in January, so it’s wise to have your property listed on Airbnb earlier in the year when many travellers begin searching for summer holiday accommodations.
Source: AirDNA January 2020
Liverpool’s Airbnb market is booming, too. The average Liverpool Airbnb host earns £112 per night, with prices peaking at an average of £125 per night in November. The summer months are hot for Liverpool Airbnb hosts as well: On average, income peaks to £1,691 for the month of August, more than twice the average of £760 income for the entire month of January. As elsewhere, Airbnb hosts in Liverpool see their occupancy rates increase during the peak holiday months.Source: AirDNA January 2020
In Manchester, Airbnb landlords earn an average of £94 per night, which increases to an average of £103 per night for the month of November. The late summer months see the greatest profit overall, but Manchester Airbnb hosts enjoy a handsome year-round average of £1,296 per month.
Source: AirDNA January 2020
London caps the number of nights an entire home may be listed on Airbnb at 90 – essentially, three months. This means that savvy London landlords typically maximise their profits by offering their properties during peak months, while those with properties in Liverpool and Manchester can rent their homes and flats year-round if they wish.
What’s involved in letting a property on Airbnb?
Properties need to be clean and completely furnished. Lock boxes need to be installed, photos need to be taken, and an appealing Airbnb listing needs to be written. Guests need to be vetted and verified, questions need to be answered, and welcome procedures need to be handled. After guests leave, there are linens to be laundered and replaced, plus cleaning to consider.
All of these tasks take time and effort, leaving busy homeowners in a bind: They want their guests to be satisfied, yet they’re easily overwhelmed by the additional demand on their schedule.
Portico’s new Liverpool, Manchester and London Airbnb management service, Portico Host, solves the conundrum. With professional cleaners and handymen on staff, the company is able to ensure that their clients’ properties are appropriately set up, clean, well-maintained and ready for guests on schedule.
The company offers different short-let packages to satisfy varying demands. All three packages however take the guesswork out of prepping a home for Airbnb guests; for example, property setup, lock box installation, professional photography, creation of the Airbnb listing, intelligent pricing, guest verification and communication, check-in, and Airbnb review management are provided along with professional cleaning and linen service.
Portico mentions that different types of Airbnb hosts take advantage of their management service:
- Landlords who are looking to improve yields and minimise void periods
- Homeowners who want to earn additional income when travelling for work, heading away on holiday, or staying at their partners’ residence
- Homeowners who are temporarily living abroad
- Property owners who have listed their homes or flats for sale and want to turn a profit rather than simply leaving the property sit vacant
Landlords advised to use a strategic approach to maximise Airbnb revenue
Many London landlords are beginning to take a strategic approach to letting their properties on Airbnb in order to maximise profitability. Those who favour long-let tenancies are listing their properties on Airbnb during the peak spring and summer months to maximise their potential income, and then listing their homes and flats for longer-term tenancies during late summer when prices typically peak and demand is at its annual high.
Property owners who are considering letting their homes, flats, and spare rooms via Airbnb often wonder whether they’ll see profits or even whether they’ll have many reservations. Statistics from iproperty management reveal that Airbnb is gaining popularity with travellers, plus they provide some insight into demographics on both the guest and landlord sides of the fence.
- Airbnb has more than 150 users all over the globe
- There are more than 650,000 Airbnb hosts
- More than 6 million properties are listed on Airbnb
- Travellers can find Airbnb rentals in more than 191 countries
- The worldwide value of Airbnb is estimated at $38 billion
- Since 2017, the number of senior Airbnb hosts has increased by 102%
- 46 percent of Airbnb guests are male, while 54% are female
- Well over 700,000 companies use Airbnb for work
- On average, each Airbnb host has 3 listings
- 88 percent of Airbnb reservations are for groups of up to four people
- 60% of Airbnb reservations are for an entire home or flat
- A stunning 90 percent of Airbnb guests report that they are either satisfied or very satisfied with their accommodations
To learn more about Portico Host, give the friendly team a call on 0207 099 4000 or email [email protected]