Wednesday, April 23, 2014

From yurts to castles, renting your home to short-term guests is a booming market

From yurts to castles, renting your home to short-term guests is a booming market: 9 leading suggestions for Airbnb property letting success

George Osborne's Budget may have done little to enhance his reputation, however the Chancellor's new rules for little traders renting rooms (or whole houses) looks likely to improve small entrepreneurs.
In future, we will all have the ability to make up to 1,000 through property lettings before paying tax. Platforms such as Airbnb and the London vacation rental firm Veeve forecast a quick growth in the number of 'hosts' excited to hire everything from an airbed in their living rooms to a high-end penthouse.

'We've had a real influx of homeowners approaching us,' states Veeve's co-founder, Jonny Morris, who launched the firm in the run-up to the 2012 London Olympics.

'The idea of home-sharing is increasingly mainstream and renting your property to make additional income has become stylish.' Airbnb which specializes in linking property owners with tourists trying to find somewhere to stay has diversified rapidly.

Since 2011 it has grown from 50,000 listings to two million, with 60 million users in 190 countries including Greenland, Uzbekistan, Cuba and Sri Lanka.

Accommodation varieties from treehouses to castles and transformed windmills. Hosts and guests rate one another after each stay, so cheerless hovels and light-fingered 'guests from hell' are extracted.
Britain has 52,000 Airbnb hosts and the boom has actually also spawned hundreds of little companies. I initially let this flat to a tenant and made 16,000 a year through conventional rental,' he says. 'Then a pal told me she was getting out three Bermondsey properties for brief stays on Airbnb.

Encouraged by this success, Colegrave set up LettsGetSmart.com, managing a handful of London flats, some belonging to expat friends, using Airbnb to market them.

He takes 15 per cent of the leasing, after Airbnb's 3 per cent cut and arranges the cleaning, changeovers, meeting-and-greeting and answering guests' queries.

He attributes his nearly 100 per cent tenancy rate to clean, economical properties in a traveler capital and daily updates on Airbnb's website to keep each flat high up the listings.

'Landlords can get twice the earnings from short-term rental, however most don't have the time or the resources. We enable them to do so,' he says.

Peter Hayes has gotten out a double space with a four-poster bed in 600-year-old Caher Castle in Galway. I used Airbnb to prevent selling the castle,' says Hayes. Once we made the modifications, they offered us a terrific review.'.

FOR lots of travelers, small is stunning. Crofters Sue Hollands and Neil Robertson welcome visitors to their cozy converted cowshed, CleadaleBothy, on the Hebridean island of Eigg for just 40 a night.

Though doing not have hotel high-end, visitors say the sea views towards Rum are worth it.

By contrast, interior decorators Shaun Clarkson and Paul Brewster's 2 Norfolk offerings, Carrington House and Cliff Barns, are exquisitely restored.

Each rests 18 and is booked months ahead of time, for stays at 120 per person a night and wedding parties. 'We go for the wow aspect,' states Mr. Brewster. 'We've had absolutely nothing but lovely visitors.

'But Airbnb can be difficult to interact with and though visitors pay it in advance when they book, the firm holds on to the cash until the day prior to people stay .

'For our sort of company, however, Airbnb is so huge and prominent that it's something you need to belong of.'.