How to Prepare a London Property for the Short-Term Rental Market
The short-term rental market in London is booming, with data from Airbnb showing a sharp increase in listings between 2018 and 2020. With London the third most popular city destination for tourists, second only to Paris and Bangkok, it’s hardly surprising that London property owners are cashing in. But owning a property in London doesn’t automatically mean you are guaranteed a great income from short-term letting. To attract renters, it’s important to make sure your property has the right look. After all, looks matter when it comes to property listings!
Here’s how you can ensure your London rental property stands out on a site like Airbnb.
Know Your Target Market
The type of property you own will largely determine what type of tenant you want to attract. People looking for luxury accommodation won’t be interested in a small flat way out in the suburbs, and people who are travelling on a budget won’t be able to afford a penthouse apartment in Mayfair.
Design and Furnish Your Property for Your Target Tenant
Decorate and furnish your property according to the level of rent you hope to charge, the location, and the type of property you are listing.
For example, a luxury apartment in a central location is going to appeal to high-end renters, but only if the décor and furnishings are up to scratch. If you are starting with a blank canvas, consider investing in the services of a consultant specialising in interior design in Chelsea. Showcasing high-end, bespoke statement furniture and a luxurious decorative scheme will help you attract wealthier tourists from countries like China and the Emirates, who are willing to pay high prices for luxury accommodation in London’s most prestigious neighbourhoods.
Even if you don’t want to attract high-end tenants, it is still worth putting time and effort into decorating and furnishing the property. Renters always appreciate luxury appliances and good-quality furniture. Even if you only buy inexpensive items, always splurge on mattresses. A poor night’s sleep is not going to help you achieve positive reviews.
Provide All the Essentials
Plenty of renters opt for short-term rentals so they have the freedom to cook meals and entertain friends, which a hotel can’t offer. Provide all the essentials in your kitchen, plus everything else necessary to ensure your renters enjoy their stay. Books, DVDs, games, and fuel for the fireplace will be appreciated by guests.
Clean the Property
Cleanliness is very important, even now with covid not quite so virulent. Guests will expect the property to be spotless, especially in the kitchen and bathrooms. If you don’t have time to devote to cleaning duties, hire a reputable agency to come in and do the honours. Chances are they’ll do a more thorough job anyway.
Decide Which Platform to List On
Airbnb is one of the most popular platforms for short-term listings, but you might also want to try HomeAway and AllTheRooms.
Short-term rentals are a great way to make extra money but check local regulations before you list your property.
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