Airbnb says the large majority of private tenants want to boost their income, including through sub-letting rooms in their homes.
In a statement issued on the back of the Renters Reform Bill debates over tenant finances, Airbnb says that as winter and the prospect of increasing energy bills approaches, the cost of living is set to once again increase for many households in the UK.
And it claims that for renters, this is compounded by an increase in rental prices, with two thirds of renters responding to an Airbnb survey claiming they are experiencing a rent increase in the last two years.
As a result, almost 80 per cent of renters are looking for ways to supplement their income amidst rising living costs, according to the Airbnb study.
The short lets platform says in its statement: “Very few renters, however, are able to share space in their homes as a means to make ends meet. In fact, over half (55 per cent) of renters say they would share a spare room if they were allowed to do so, but only a fraction say that they believe their landlord permits it.
“For many homeowners, sharing a spare room on Airbnb is a lifeline in challenging economic times, providing a secondary source of income that helps families make ends meet. Almost four in 10 Hosts on Airbnb in the UK say their hosting income helps them afford their own home (39 per cent) and the rising cost of living (38 per cent).
“The idea for Airbnb was born after the founders needed a way to earn additional income, following an increase in their rent. Today, the average UK private room Host earns £2,200 last year, the equivalent to almost two months worth of the average UK rent. Opening up the opportunity for renters to let their spare rooms would offer an invaluable financial boost, helping renters stay on top of rental and living costs and in the homes they live in.”
The research also looked into other things renters wish they could do, including wanting to be able to decorate their home (46 per cent), wanting to be able to choose the tradespeople who service their home (24 per cent), and being able to change furniture (18 per cent).
Amanda Cupples, General Manager of UK & Northern Europe at Airbnb says: “Airbnb was born during an economic crisis when our founders couldn’t afford to cover an increase to their rent. Since then, Airbnb has become an economic lifeline to Hosts and yet many renters in the UK cannot access the same opportunity. Sharing a spare room on a short-term basis can allow renters to boost their income and help them with the increasing cost of living. We encourage renters to check the terms of their tenancy agreements and with their landlord to see if home sharing is a possibility.’
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