Owning a property in London is a fabulous investment and acquisition, and one that is increasingly growing in popularity. In this article you will find out everything you need to know about London Airbnb Managment Companies, the pros and cons and you will meet the dangers that await private landlords and property investors that list your property on the Airbnb platform and increase your occupancy rate per month.
Having an additional base in one of the biggest and most exciting capital cities in the world—let’s face it—there are plenty of people who’d love to be in your shoes.
Yet, making an income from your London house isn’t as easy it sounds.
Who’s going to take care of the cleaning and maintenance? How are you going to get enough visitors to make it worthwhile? Do you understand the legal aspects of running a holiday-let business for business travelers? What about advertising your Airbnb listing and property portfolio on multiple booking platforms such as Homeaway, Booking.com, Tripadvisor, Expedia or Agoda? How will you know your flat is marketed well, with the right price for the right demand. Who will handle the cleaning and guest communication so you can get some 5 stars guest reviews? And how can you do all that from hundreds of miles away?
Letting a Property in London
(Airbnb Management in London, UK)
That’s where employing the services of an Airbnb fully property management in London comes into its own.
Having someone to take care of every aspect of your holiday-let property is almost like having a business partner—a truly good hands-on and efficient business partner. They’ll do all the hard work for a small slice of the rewards.
However, if the property sits empty for too long, they don’t stand to lose anything, as they work on a percentage of the bookings they bring. You, on the other hand, are down on your income.
Initially, they might offer to boost your income, even double it, but if they get it wrong, you won’t earn a penny. If only they could guarantee their claims and put their money where their marketing mouth is to ensure good a good financial return.
Hiring an Airbnb management London company
Is it worth it?
Management services are a real gamechanger in the rental property market. Professional property airbnb managment companies can really make your life hassle free, help you get rid of time consuming activities and earn money.
UpperKey’s Guaranteed Rent System
UpperKey will offer the same undertakings as management services, but with even less involvement from you. UpperKey is among the top professional hosts on Airbnb in London.
UpperKey is one of the very few services that offer a guaranteed rent over the full term of your contract as standard.
You get what you expect
Every month you get exactly what you expect. It makes it easier for you to budget, you always know where you stand, and it takes all the guesswork out of running your business.
The London Airbnb Rule
The 90 Day Rule
In 2015, it became law that nobody could rent out their property for more than 90 days in the Greater London, UK area solely using short-term rentals.
This new regulation was down to the rise of Airbnb and how easy it was for landlords to fill new properties with short-term, high-rate short and monthly stays, and the impact it was having on the long-term property rental market.
Rental homes were turning into holiday lets, which was bad news for those looking to live and work in London. It was also affecting the culture of the city.
If landlords were going to take advantage of the far easier to fulfill short-term market, they had to apply for a planning permit to change the use of the property.
To sidestep the 90-day rule, those same landlords had to find a way to occupy the property for the rest of the year with mid-term lets—something the property management companies or the best Airbnb management companies are well versed in.
House rules | 90 day rule
Employing an Airbnb management London company: Advantages
In-house teams create consistency for hosts and guests
Many of the Airbnb management London teams take care of everything in-house. Having a team that performs the same tasks, over and over, provides consistency for both landlords and guests.
Personal touch and local knowledge
With an Airbnb management London team of staff who live and work in London, they can supply all the information a visitor could need. Not only that, but they are specialists in the city regardless of the property location. Their local knowledge is invaluable, providing fast, efficient answers for visitors, taking the stress out of any stay.
Managing the London 90-day limit
A management service understands all the laws and legislation of their industry. Everything from managing bookings, insurances, and the 90-day limit—it’s all part of their process.
Best Airbnb Management Companies | London law
Reception spaces offer Airbnb concierge-like service
Some of the London management services have an office in the capital, providing a drop-in space for guests. Tie this in with a 24/7 contact number, and it can provide something of an Airbnb concierge for their London guests. It’s not just hotels that can offer to go the extra mile anymore.
Advices
Forward-thinking management concierge services may provide visitors with all they need to know about what’s going on in London, how to get there, how to buy tickets for theatres, attractions, and special events. Many of these elements will be included in an in-depth welcome pack, or as part of the check-in experience.
Local market knowledge to aid in boosting income
When it comes to your booking rates, a specialist in the field can quickly boost your income. They know exactly when you can charge the most advantageous fees and how much they are. They’ll also know when to drop them to make sure you retain full occupancy during slower seasons.
Local market property listing
Some even offer to double your income
Armed with that knowledge, some services will suggest they can double your earnings. It’s a bold statement, but if they’ve got data to prove their claims, then perhaps they’re worth every penny of their fees.
Dedicated account managers
You may be provided with a dedicated account manager. Having someone you can contact directly about the state of your bookings and rental revenue, or any problems with your property, provides a great deal of confidence and peace in stressful situations.
Short term Rental property advisors
Work with local estate agents for mid- and long-term lets
A local service will often work alongside existing estate agents, filling the gap for landlords looking for mid-term stays. Airbnb Property management and Airbnb concierge services in London are often dependent on these to fill their apartments year-round, so these contacts are invaluable.
Tenant communication
Tenants can be very different. Some are quiet, while others can be very unpleasant and demanding. You do not have to worry about tenant communication. Airbnb concierge and management companies will take care of everything. After guests leave you may also encounter unpleasantness. Dirt or untidy rooms are the norm. Airbnb Property management company can help you with houskeeping team.
Some possible flaws
when using Airbnb management companies in London
Fake comments and appraisals
There were rumours about one of the London property management companies persuading staff to place false recommendations on the review sites. Make sure your London Airbnb service holds genuine recommendations or referrals before signing to any service.
High and costly management rates
You’ll be handing over a percentage of your booking fees, so shop around carefully for the best rate for you. Remember, the lowest rate isn’t always your best option. You may pay a little more to some services, but get a lot more back in return.
Hidden fees
The less reputable agents will hide fees in their small print, often only to be found when it’s too late. Again, check reviews, go over any contract thoroughly, or even have your own legal representative give it the all-clear before you sign.
Minimum availability periods
Some agents will require you to have lengthy minimum availability periods, to be able to make their required returns from your property. Check the small print if it isn’t shown up-front in their terms.
No personal check-ins / only key-boxes
A lot of your guests will expect to be greeted personally, especially if they have a list of questions ready. Some of the management services operate on key-box check-ins only. This is where a passcode is given to access the property’s keys or to get into the apartment. It keeps human resources down, but you may be missing out on the personal touch your guests might prefer.
No insurance other than the Airbnb damage protection
You’ll expect to be covered in any emergency or accident, so if a service operates on nothing more than the standard Airbnb policies, you may want to put something in place—or find a service that provides the level of professionalism you require.
Hosting services | insurance
Possibly slow payment schedules
One of the biggest issues that can cause friction between owners and managers is the payment. There are services that pay almost immediately, yet others will hang on to the fees until the latest possible opportunity.
Choose your Airbnb Service Wisely
One of the biggest issues that can cause friction between owners and managers is the payment. There are services that pay almost immediately, yet others will hang on to the fees until the latest possible opportunity. For many property owners choosing the right property service is very important.
There are many management companies on the market, but not every short term rental contract will fit you. The right support team will offer you a hassle free service and will bump up your rental income with the help of their real estate expertise.
Picking the prime Airbnb management service in London
It’s worth doing your research if you’re looking into taking advantage of an Airbnb management service. Not all services are equal, and without due diligence, you could be getting yourself into deep trouble instead of easing your workload.
Which London property management company will be the best for you?
With over 10 years of property management company experience all over Europe, UpperKey can provide to property owners the best airbnb service they deserve. No matter if you are looking for short term rentals or holiday rental, we will take care of it.
Why do property owners love UpperKey?
Expert Property Management with over 101years of experience. We are the best.
With us you have guaranteed rent every month and we will pay it upfront!
You don`t have to worry about tenants or agents to deal with
Stability. We can guarantee occupancy rates to 100%
Independent third party advisor | Airbnb management
Did you know this about UpperKey London?
Did you know? We are listed in travellistings.org's Greater London Vacation Listings, you can see more here: https://www.travellistings.org/England/Greater-London/C1-17-1-0.htm">Greater London Vacation Listings.
Get in touch
Get in touch and get started today to relieve some of the stress related to managing an Airbnb. You will thank UpperKey for the flexibility and success you'll achieve with the help of our real property management services.
We currently operate in central London, in neighbourhoods like Mayfair, South Kensington and Fitzrovia, but are looking to expand into other areas of the city soon.