‘There will not be a segment of short-term rentals that Airbnb does not wish to dominate’

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first_imgHome » News » Housing Market » ‘There will not be a segment of short-term rentals that Airbnb does not wish to dominate’ previous nextHousing Market‘There will not be a segment of short-term rentals that Airbnb does not wish to dominate’Airbnb’s ambition within the property market is clear, says research companyNigel Lewis28th February 201701,783 Views The threat that Airbnb presents to agents is laid bare by recently comments by a senior figure within the company, as well as research carried out exclusively for The Negotiator within the London market.This shows that the dot com is not only beginning to eat up the general short lets market in London and remove many properties from the traditional private rented sector, but that many high-end property owners are also utilising it to increase their returns too.The research by Airdna reveals that there is a significant number of central London properties that are generating huge incomes for their owners, properties that can hardly be described as bedroom rents or sofa surfing.This includes a six-bedroom property in Mayfair that over the past 12 months has earned £97,600 for its host, a Swiss Cottage garden flat that has earned £69,800 and a Westminster duplex that has generated £67,100.Some property owners are also renting out entire apartment blocks. One property in Shoreditch, a nine-apartment block, has generated £212,670 for its owner via Airbnb over the past year, according to Airdna.“Entering the high end of the market lays out the statement that Airbnb has gone far beyond its air mattress roots,” says Airdna chief revenue officer Tom Caton (pictured, left).“The high end requires a different approach from the user generated content that powers [our] listings.“And our Luxury Rentals team of experts will help to scale Airbnb at the top end, right into the territory of other high-end traditional vacation rentals.“It is a clear statement of intent that there will not be a segment of short-term rentals that Airbnb does not wish to dominate.”Airdna says Airbnb lists 56,237 properties in the capital 24% of which were rented out for more than 90 days between February 2016 and January this year.But in a few months’ time Airbnb will begin stopping hosts from renting out their properties for more than three months, following protests from several London councils that such lets were unregulated.“The problem was that a website that was about people making a little money letting out rooms was being abused by professional landlords turning their properties into hotels by the back door,” said Tom Copley, Labour’s housing spokesman on the London assembly, recently told The Guardian.But some agents see Airbnb as an opportunity. As we reported recently, 18-branch agent Portico has set up a property management arm exclusively for Airbnb hosts. “It really does pay to get on board with Airbnb in the short-term,” said Portico MD Robert Nichols (pictured, left).London short lets airbnb February 28, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img

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