Portico has expanded its short-term lettings service, bringing its Airbnb services to Manchester and Liverpool’s high streets.
The estate agency, which currently has 17 high-street offices throughout zones 1-4 in London, has tied up with local coffee shops to bring short-term letting services to landlords and property management to Airbnb hosts in the North West of England in a more relaxed setting.
Properties listed with Portico will be available on the Airbnb website, managed by dedicated Portico account managers.
The move is designed to help private landlords in Manchester and Liverpool maximise income from their investment properties at a time when they are set to be hit with increased taxes and costs.
It will also make Airbnb a more accessible option for homeowners interested in earning additional income through short-term lets.
Portico’s new business director, Fiona Patterson, said: “It’s no secret that the lettings industry is evolving, and at Portico, we intend to change with it.
“After the success of Portico Host in London and our appointment to the Airbnb professional co-host programme, it seemed only natural to bring our award-winning service to the best place for landlords to invest in the UK. Liverpool and Manchester share a vibrant Airbnb and letting market, enabling Portico landlords to achieve better yields for their properties.”
Liverpool and Manchester are among the best places to invest in property in the UK at the moment, in terms of the return long term investors can achieve.
In certain parts of Liverpool, landlords can expect to achieve a rental yield of circa 9-10%, whilst in Manchester, landlords can expect to achieve a yield of 6-9%.
This new venture will be led by Rachel Dickman, who joins the team as Portico’s regional manager for the North West.
Dickman, an industry veteran with experience working with property agents such as YOPA and Countrywide, commented: “This is an exciting time to be in the property industry. The North West is a natural next step for Portico Host, as Airbnb short term rentals generated over £37m in revenue in 2018 alone, according to Airbnb’s most recent insight report, and boosted the overall UK economy by £3.5 billion. I look forward to bringing Portico Host to the North West’s vibrant marketplace.”