Twelve months ago, if you’d been considering renting your property out as a short stay holiday rental, you’d have pretty much had your decision made for you by—well, the state of everything. It’s been a difficult twelve months, however, it’s beginning to look like some semblance of normality may soon be returning.
As summer approaches, those dreams and goals we put to one side for the last year are ready to be taken up once again—including turning your property into a short stay rental.
With those in the UK itching to get away from their home for a weekend, or even a week away, now is the perfect time!
Why now?
On first impulse, the tail-end of a year-long pandemic may not seem like the best time to begin the process of setting up your property as a holiday rental. However, there are several key reasons that mark now as the perfect time, and an enormous opportunity for homeowners seeking an extra income.
After a year of cancelled flights, working from home and closed pubs, studies have found that the average household in the UK saved as much as £7,100 in 2020, and that saving increased from 7% of disposable income in 2019, to a high of 29% the following year.
All of this means that, as restrictions continue to ease, as a nation we have a tidal wave of saved up money waiting to be spent on all the things we’ve missed the most: restaurants, pubs, days out, and most of all, holidays.
The staycation boom
In addition to the amount of extra spending money the holidaying public will have this year, international travel is still a long way off. As it stands, returning travellers from many countries both in Europe and further afield have to quarantine themselves for ten days when returning home, which for most holidaying families simply isn’t possible.
While unfortunate for holidaymakers hoping to jet off into the sunset, this is great news for the local tourism industry: 2021 will be the year of the ‘staycation’!
In a recent poll, results indicated that a whopping £7.1 billion would be spent on staycations between July and September this year, which means there’s a huge amount of opportunity for anybody opening their property up as a short term rental. We’ve all been dying to get away on a holiday, and as the lockdown eases, we’re likely going to see vast amounts of pent-up passion for travel released.
In short—there’s never been a better time to hop aboard and rent your property.
What are the benefits of short term letting?
Here at Places To Be, we offer a more personalised approach to short term rentals in Portsmouth. Naturally, since the (many!) lockdowns, some of the common processes have changed for everyone, but for us, our passion and tailored approach hasn’t.
So, here’s everything you need to know!
– Hassle-free renting
When you host your property with us, Places To Be will take care of finding you guests to stay in your property. We also take care of cleaning your property effectively – according to current government standards. This means you’ll get all the benefits of renting out your property, with none of the stresses of going it alone.
With short term letting providing flexibility for you and your family, you’ll never be left unable to use your property when you need it most – whether you have friends staying or simply want to relax on the weekend.
– Reliable revenue
Despite the pandemic, we were still able to generate revenue for our owners as we were able to accept bookings. This includes bookings for key workers, those needing to isolate away from home, business travellers or those in between house moves. So there were no particularly lengthy gaps in which our clients properties were sat empty! When you choose Places To Be to manage your property, we look at all available options for increasing your occupancy.
Firstly, you will earn a higher revenue via short term letting, in comparison to standard rental properties. Unlike a typical rental, prices are set per night as well as being based on demand, allowing you to take full advantage of peak seasons and local events.
Even in quieter seasons, medium-term lets are a possibility for those working away, in between house moves or corporate clients – so there are always plenty of opportunities to maintain revenue!
– Taking care of your property
When you decide to host your property with Places To Be, we take care of everything. When you have a tenanted property, not knowing the condition of your property until after your tenant has moved out can be a daunting thought.
Thankfully, choosing to rent your property as a short term rental with us means that your property will be inspected, cleaned and maintained on a regular basis.
Any issues will be instantly reported, so no unreported leaks or issues that can cause further damage to your property and extra expense to you. With no room for problems to arise, we keep on top of everything for you!
– Interim short term letting
Waiting for your property to be sold? There’s no reason why your property should be left empty in the time being. If you are selling your property, short stay letting is a great option for the interim until it is sold. The property will be kept in great condition and you won’t have to wait for tenants to move out before completing the sale. This also means that you can conveniently arrange viewings in-between stays and block out days as you need. This will help you make a quicker sale, while still earning an income.
– Greater control
Legislation for landlords with regard to Assured short-hold tenancies has changed a lot over the years and has become a bit of a minefield! Short-stay letting gives you more control and flexibility over what you do with your property and when
Changes to our processes since COVID19
– COVID-19 cleaning protocols
We’ve enhanced our cleaning for 2020/21, and our number one priority is the wellbeing of our guests and our team alike. After every stay, we deep clean each of our properties using a strict checklist which adheres to government cleaning standards, including the wearing of PPE, ventilating rooms, and disinfecting all high-touch surfaces and fabrics.
– Contactless check-in
We’ve always offered self check-in for each of our properties. Holidaymakers can arrive at a time that suits them (and you!), and our contactless check-in approach minimises close interactions. We also disinfect all keys and lockboxes in between every stay.
– Social distancing
Our team is on-hand should a call out to a guest staying at your property be required. Our staff wear masks and maintain a safe distance of two metres at all times.
– Our guidebooks have gone digital
The pandemic really helped usher along our plan to replace all our guidebooks with digital versions! Instead of finding physical guidebooks and welcome packs inside your property, your guests will now be sent digital guides ahead of their arrival.
These guides will contain everything your guests need to know for their stay: things like directions to the property, any rules for the house, plus a healthy chunk of information on the area. Our digital guides are safer and more hygienic, plus they help to save trees!
Ready to host your property with us?
While we’ve all had to contend with an unpleasant year, the sky is clearing and soon, we hope that life will return to normal—or something very close to it. If you’re interested in getting your property into the short term rental market, getting in touch with Places To Be is the best possible first step you can take.
Despite the setbacks COVID has forced on us all, 2021 is set to be an astonishing year for rentals and staycations, with everything to gain for those who manage to get themselves set up ahead of time.
If you’d like to chat further about what we can do for you and your property, get in touch today! We’ll talk you through all your options, and your journey to a lucrative future will already be underway.
