Last year we published a blog (here) as Robb Residential were seeing a move from AirBnB to Residential Letting, the traditional letting market, as landlords sought more security and regular rental income in the face of the pandemic.
But the emergence of the variants delta and omicron further impacted and changed the market – the rise of the staycation continued, as Google searches for the word rose 500% and actual domestic holiday bookings in the UK, this time last year, were up 300%.
However, having the flex and agility to switch between types of tenancy can be a key to a landlord maximising their income, especially in the face of some uncertainty.
“Many AirBnB-style landlords are looking to secure their income in off-season with a move to assured tenancies for a number of months. Landlords are increasingly realising that in low season platform fees (AirBnB currently 3%) and management costs (Houst starts at 12%), and the toil of turnaround, materially impact their take home rental income. And with rental stock low, traditional lets are offering attractive gains.
Plus, a verified and credit-checked tenant represents a smaller risk, who takes on Council Tax, utilities and other ongoing costs, all of which are on the rise. If holiday letting is not scaled properly, often the hassle outweighs the income.”
Robb Residential are here to help, and are actively seeking current holiday and staycation landlords to help prop up a rental market that’s running very low on stock and offering better-than-ever monthly rents.
In addition, the typical lettings route can help offset the increased rates of Council Tax, now the freeze has been removed, as well as uncertainties around energy costs via those delightful visitors who use one’s holiday home whilst having the heating pumping out at all hours, and the lights left on 24/7 – these costs, and possible Buy-to-Let interest rate increases, will now be further encroaching on holiday let profitability.
Robb Residential lettings cover a range of geographies – the City of Glasgow, Greater Glasgow, Lanarkshire, Edinburgh, Lothian and The Borders, Central Belt, Argyll and Bute, and beyond – and offer professional, comprehensive services via our experienced team based in Glasgow. Landlords benefit from our personal, tailored approach and we advertise your property on the Robb Residential website, as well as the main and very popular platforms, Rightmove and Zoopla. Contact Robb Residential to discuss your rental property, securing its future and profitability.
Note: all statistics, percentages and references are correct at the time of writing.