The trade body representing hosts and suppliers to the short let industry is calling on people to defray cost of living increases by letting out their homes over Christmas.
The UK Short Term Accommodation Association suggests that people should consider letting out their homes over the festive season whilst they are away themselves, to help cover the extra costs this year caused by the hike in energy prices and runaway inflation.
Chief executive Andy Fenner says: “We all know that Christmas can weigh heavy on the family budget, but this year with 10 per cent inflation and energy prices at record highs, expenditure is likely to be much higher than in previous years. Thousands of people across the country let out their homes for extra cash whilst they are away themselves at Christmas and New Year.
“If you are going away this festive season, renting out your home could earn you hundreds of pounds to give your festive budget a much needed boost.”
The UK STAA cites the Bank of England calculating that the average household spent an extra £740 in December in the run up to Christmas. Unsurprisingly, spending on food increased by 20 per cent and alcohol by 38 per cent.
The average expected spend per head in the UK this Christmas according to Statista ranges from just under £1,000 in the North East to nearly £1,700 in London.
With many people vacating their homes at Christmas to stay with family and friends in other parts of the country or even abroad, renting out their properties whilst they are away could help to keep the family finances on an even keel, claims the UK STAA.
Fenner adds: “Many people who go travel to visit friends and family over the festive season often can’t stay for long because of cramped living conditions or the cost of a hotel. But renting someone else’s home for the winter holiday period is often a viable solution as people love the home comforts, space and amenities they get.
“Professional property management companies like our members can take all of the hassle out of marketing a property and managing bookings. Plus, people who rent out their homes can earn up to £1,000 a year tax-free. Renting out your property this Christmas could make the difference between a downsized and memorable Yuletide.”
According to the STAA, the most common reasons why people like to rent a property close to their families rather than staying together under one roof at Christmas are firstly the lack of personal space because there are too many people in the house; then inconvenient or uncomfortable sleeping arrangements; followed by a lack of decent wi-fi, family arguments and not being able to watch what they want on TV.
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Why would I even consider letting my property out for a few days at Christmas. Can you imagine the hassle this could cause. No thank you!
😂😂 not a hope in hell… I would never consider a lodger so this is way off the scale. My home is exactly that 🏠.
Why not let your house out over Christmas? After all you have a full 4 days to get it party ready - and a full year to get it repaired for next Christmas - if you can find tradesmen!
Exactly, it would be wrecked 💣
Bolloc
Maybe trying to drum up support, get extra involved hoping someone will switch, everyone seems have their own agenda.
As for Regular landlords the 10% inflation is the tip of the iceberg.
Ealing has Borough wide Licensing Schemes starting on 3rd of January costing millions to privacy landlords.
How about deferring this for 2 more years given the state of the Economy putting extra strain on Renting.
Why would anyone do this? If you are that desperate for money surely stay home instead of going away? I know it's a free country but I assume the STAA has contributed to the problem of too many short term lets in holiday areas.
April 1st already ?
Seems The UK Short Term Accommodation Association needs to put a bit more water with whatever it is they're drinking.
Can't beat a nice drop of Irish, but don't tell Robert
Not sure how well it goes with avocado, but then I never have either!
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