New tool calculates income for hosts as demand for UK staycations soar
- New tool helps homeowners valuate their home to see how much they could earn
- Due to coronavirus more and more Britons turn to staycations
- The future of Airbnb and the opening of new business opportunities
Do you have a second home, or are away a lot and wonder how much your empty property could make you on sites like Airbnb?
If this is something you’re interested in, you’ll be glad to know that prospective hosts can now find out exactly how much they can expect to earn each and every month through renting their spaces.
Estimate your earnings potential
New tool, ‘What’s My Place Worth‘ calculates your home’s estimated income based on your location, the type of listing and the amount of space you have. Airbnb will gather data from other households in your area to show you the extent of your home’s potential.
Due to the impact of COVID-19, demand for holiday homes has increased leading Airbnb to attract more households to list on their website.
These days, data tells us that travellers initially look at renting stand-alone holiday homes instead of heading directly to hotels like they did in the past. And whilst the pandemic might have initially pushed them from hospitality, it’s the personal touch and freedom of holiday homes that keep them coming back.
Amounts are estimates and are not guaranteed
The estimations are calculated using data on the previous 12 months of the local area and then are multiplied by a nightly price and the total nights of occupancy.
However, it’s important to note that these are estimates not guaranteed earnings. Setting up as a host on Airbnb and doing so successfully takes time, effort and perfect property management.
If you think your home is ready for Airbnb, you might be surprised to know that Airbnb hosts can spend up to 40 hours a week in busy tourist locations like London, Manchester and Liverpool. Therefore, if you live in the M23 · M14 · M1 · M20 postcode area, and are looking for Airbnb management help in Manchester click here.
If you’re a renter
Sub-letting your property is likely to be against the terms of your tenancy contract, so if you are a renter, you need to be careful about putting empty rooms up on the site.
Just as importantly, if you own your home leasehold, then you might need the freeholder’s permission. Plus, if you’re in cities like Manchester or London, you will likely need to follow certain rules and apply for specific licenses.
What makes a good Airbnb property?
- Free parking
- Wireless internet
- Properties with pools and jacuzzies
- Homes with a kitchen
- Heating, washer & dryer
- TV and Netflix
