Maximize profits, minimize damages – unlock your property's potential this summer
Want to unlock your property's fullest potential this summer? In this blog post by our partners at HOUST, find out how to maximize profits and minimize damages on your properties during this busy hospitality season!
May 23, 2023
Up to 94% of landlords say that they have always wanted to try short-term rentals, however, it seemed like too much work. Likewise, in the back of almost every landlord’s mind, there’s a lingering concern about the higher risk of property damage and anti-social behaviour that could result from Airbnb hosting.
Fortunately, this is no longer necessarily true. Jumping to the aid of hosts kept up at night, Minut and Houst have developed solutions to make hosting easier than ever, allowing them to earn more whilst doing less, and the peace of mind knowing their property is completely safe.
We are therefore excited to announce our partnership and showcase how Minut’s monitoring technology can be integrated into property management services provided by Houst.
Maximising returns with short-term rentals
It is well known that short-term lets command higher rental rates than long-term tenancies – hosts typically get rewarded hefty 30-50% premiums, especially in high-demand tourist hotspots or during peak holiday seasons.
The best part? Anyone can become an Airbnb host! In many parts of the world, hosting regulations are still relatively lax, so there are few entry barriers for those looking to convert their long-let properties.
However, unlike standard long-let properties that allow for a passive commitment on behalf of the landlords – running a 5-star, well-optimised revenue generating short-let involves many requirements, particularly a high level of active and consistent effort for the business to keep running smoothly.
From vetting guests, conducting regular and timely cleans, keeping maintenance up to date, providing continued guest support, and striving for a pleasant guest experience with real-time positive reviews to back it up, it is estimated to take up to 50 hours a month per home.
Hosting choices: DIY or a professional service?
While hosting on your own can be a rewarding and manageable experience for part-time hosts, investors seeking to grow a multi-property portfolio will likely struggle to scale a short-lets business single-handedly – especially across different locations.
As the world’s largest full-service short-lets management company with a portfolio of 7,500 properties across 19 cities, Houst helps homeowners enjoy a hassle-free rental income and say goodbye to tenant problems with a professional end-to-end service offering.
Tracking over 370,000+ guest bookings managed to date, Houst specialises in managing short-term and medium-term rentals across a number of booking sites (Airbnb, Booking.com, VRBO and many more) and landlords can earn up to 56% more per month than traditional letting options. To date, the company has generated over £112M in revenue for its hosts. See how much rental income you can make from hosting – get your free income estimate!
Powered by a flexible lettings strategy and an OccuMax pricing algorithm tried and tested on 1.6M managed nights, Houst is able to ensure that clients’ properties maintain high occupancy while achieving the best nightly rate possible.
Using data – instead of guesswork – Houst can not just earn hosts more than traditional estate agents, but also outperform the Airbnb average of DIY hosts. During summer of 2022, Houst’s nightly rates across key UK hotspots outperformed by 30% the Airbnb average.
Peak season opportunity
Summer is the best time for holiday lets, with property owners seeing their highest earnings of the year. During summer, nightly rates typically increase by 32% compared to the year-round average, with seasonal cities seeing an increase of up to 42%.
Therefore, with summer being such a critical season for yearly hosting revenues, there is no better time to get a professional holiday lets management service to run your property – freeing you up to do the things you love this summer.
Houst can help you take advantage of this, maximising your rental revenue and earning you more than if you were to do it yourself. Find you how much you could be making this summer – get your free income estimate!