When Airbnb first came to prominence, no one could have foreseen what impact it would have on the housing sector. It’s now possible to rent out anything from single rooms to entire houses for short-term rentals, and at a decent profit. In fact, it’s now so popular that people from every walk of life are joining in.
Although it’s not an easy task, to begin with, lots of people are earning a decent second income from renting out properties. It’s also possible to do so without doing the dirty work you’d associate with a landlord.
Become a Short-Term Property Entrepreneur in London –
Many people who are entering into the short-term property market aren’t landlords. They might fall into this category, but in reality, they’re entrepreneurs. The reason is that they rarely manage the properties they rent out. The idea of being a landlord isn’t that appealing, and it’s challenging work. However, if you have the means to buy one or several properties, you just hire someone else to manage the property.
There are people who specialise in Airbnb and related short-term rental management. They will ensure that your property or properties are clean, well-maintained, and they will liaise with your tenants of guests. By using this option, you can easily undertake this work if you spend a lot of time traveling for work or if you have second homes abroad.
Tips on Renovating or Upgrading Your Property to Add Value –
There are a few aspects that can determine the price you set for your short-term property. Location is important, primarily if you’re located in a popular area like Chelsea or St. John’s Wood. If you have a house or an apartment in affluent areas like these, you are already at the top-end of the rental prices you can set. Then, if your property has excellent amenities, you can then increase your rates. If you have a swimming pool or a hot tub, as well as a large TV and sound system, the price can go up again.
A well maintained and clean property is the baseline you need to start from. If you hire someone to manage your property, you will also need to get someone in for maintenance and repairs. A lot of short-term rental platforms rely on ratings from guests and tenants, so you need to have a clean and functioning property.
If you use a professional cleaning company once a month you don’t have to worry about any issues with cleanliness. A clean house or apartment is also easier to check for maintenance issues.
Then you can consider practical ways you can upgrade or renovate to add value to your property. A simple paint job for each room can add new life to your property at a low cost. Rather than buying new carpets, you can get a carpet cleaning service to get rid of any stains. Attractive properties will lure in potential guests so make sure everything looks presentable. Hire a photographer to capture everything so you can advertise it online.
Ward Thomas – Your Partner for Removals and Storage in London –
The Ward Thomas team works with people in short-term rentals every week. We work with landlords all over London to provide them with storage, professional cleaning services, and Man & Van service. A lot of people in this sector don’t have work premises to store equipment and furniture, so self storage is the perfect and affordable solution. If you don’t own or want a work’s vehicle, a Man & Van service provides a cost-effective solution.
Ward Thomas is known as London’s prestige removals and storage providers. We earned that title from our dedication to a superior level of service. Our promise to our customers is that we will provide a service we would want to receive. We put ourselves in their shoes, and that’s how we create our removals and storage services and packages. It’s a simple concept. We want people to return to use our company, and we also receive a lot of referrals.
If you’re looking for a new way to increase your bank balance and appease your entrepreneurial inclinations, then short-term rentals offer a viable entry point to an exciting market. To do this without having to do too much of the labour-intensive work, it’s a good idea to outsource wherever possible. Ward Thomas offers a wide range of services that will compliment your new venture.
Choose London’s finest storage and removals company – contact us today, and we’ll discuss how our range of services can improve your short-term rental enterprise.