Landlords who own properties in London that look set to be empty over the Easter period are being urged to make the most of their assets by renting out their homes to holidaymakers on a short-term let.
Using data from its own pricing algorithm and in-house yield experts, hospitality management services provider Hostmaker has found that London homeowners can make up to £206 a night on average this Easter for a two bedroom property in Zones 1 and 2, which if accurate is about £54 more than the annual average of £152 per night.
The company claim that landlords with a well presented property could earn as much as £1,200 for a week-long rental over Easter, with the arrival of overseas visitors driving demand in the week preceding Easter.
With the knowledge that 40% of travellers only get around to booking accommodation in the two weeks before their trip, Hostmaker estimates that more than 95% of its portfolio of London homestay properties will be occupied this Easter. That represents a 15% uptick on its average 80% occupancy rates, as tourists flocking to the capital increasingly seek a ‘home-from-home’ base for the Easter break.
“April marks the beginning of the high season and the months beyond present a huge opportunity for London homeowners”, said Hostmaker founder Nakul Sharma, who is an experienced hospitality professional and Airbnb host.