Short Term Property Rental: Tips & Tricks from SevenStays

The world of short term property rental has gained immense popularity in recent years, thanks to platforms like Airbnb and VRBO. To succeed in this competitive market, effective property management is crucial. In this blog post, we will discuss the numerous advantages of hiring a property management company for your short term rental and introduce you to the exceptional services offered by SevenStays.

Understanding the Short Term Property Rental Market in London

Over the past few years, the short term property rental market in London has experienced exponential growth. This can be attributed to the increasing popularity of platforms like Airbnb and the demand for more flexible accommodation options. As a result, more property owners are considering renting out their apartments on a short term basis.

Short term property rental offers numerous benefits for property owners, including:

• Higher returns: Short term rentals often generate higher returns compared to long term rentals.
• Flexibility: Property owners can choose when to rent out their apartment and for how long.
• Market adaptability: Owners can adjust their rental rates according to market demand and seasonality.

Finding the perfect apartment in London to rent out as an Airbnb may seem daunting, but with the right guidance and a thorough understanding of the short term property rental market, it’s an achievable goal. By following the steps outlined in this guide, you’ll be well on your way to creating a successful and profitable short term rental in London.

Finding the Right Apartment for Short Term Property Rental

Property Size and Layout

When searching for an apartment to rent out as an Airbnb, consider the size and layout of the property. Ideally, you’ll want a property that can comfortably accommodate a variety of guests, from solo travellers to families. Look for apartments with multiple bedrooms, well-designed living spaces, and functional kitchens.

Property Condition and Amenities

The condition of the apartment is crucial for attracting guests and securing positive reviews. Ensure the property is well-maintained and free from any structural issues. Additionally, consider the amenities offered, such as Wi-Fi, laundry facilities, and modern appliances, as these can greatly impact a guest’s stay.

Comprehensive Property Management Solutions

Professional Listing Creation

An attractive and informative listing is essential for attracting potential guests to your short term property rental. A property management company like SevenStays can create a professional listing that showcases your property’s unique features, using high-quality photographs and engaging descriptions.

Maximising Online Visibility

With countless properties competing for attention on rental platforms, it is essential to maximise your online presence. A property management company can utilise their expertise in search engine optimisation (SEO) and online advertising to increase your property’s visibility, ensuring it ranks high in search results and reaches a wider audience.

Ensuring Quality Guests

A property management company can help you avoid potential issues by screening guests before they book your property. By verifying the guests’ identity, checking their rental history, and reading reviews from previous hosts, the management company can ensure that only responsible and respectful guests stay at your short term property rental.

Efficient Booking Management

Handling booking requests, enquiries, and cancellations can be time-consuming. A property management company can streamline the process, managing all aspects of booking, from initial inquiries to final confirmations. This allows you to focus on other important aspects of your business.

Dynamic Pricing

A property management company can employ dynamic pricing strategies to maximise your rental income. By analysing local market trends and considering factors like seasonality, local events, and demand, the management company can adjust your nightly rates to ensure you always receive the best possible return on your investment.

Seasonal Adjustments

Understanding the different seasons and adjusting your pricing strategy accordingly can make a significant difference in your rental income. A property management company can monitor seasonal trends and make data-driven adjustments to your rates, ensuring you maximise your revenue throughout the year.

Effortless Maintenance and Repairs

Regular maintenance and cleaning are crucial for maintaining a high standard of accommodation. Consider hiring a professional cleaning service and schedule routine maintenance checks to ensure your apartment remains in top condition.

To maintain the quality and appeal of your short term property rental, regular inspections are essential. A property management company can perform these inspections on your behalf, identifying any potential issues and ensuring your property remains in excellent condition.

By addressing minor issues before they escalate, preventative maintenance can save you time and money in the long run. A property management company can schedule and carry out routine maintenance tasks, such as cleaning gutters, servicing appliances, and checking for leaks, keeping your property in top shape.

Emergencies can happen at any time, and it is crucial to address them promptly to minimise damage and inconvenience. A property management company like SevenStays offers 24/7 support, ensuring that any emergencies are handled quickly and efficiently.

When repairs are needed, a property management company can coordinate with qualified professionals who are experienced in handling various maintenance tasks. This ensures that your short term property rental remains in excellent condition, providing a comfortable and enjoyable experience for your guests.

Cleaning and Turnover Services

A clean and well-maintained property is essential for attracting guests and maintaining a high occupancy rate. A short term property rental management company can arrange for professional cleaning services between guest stays, ensuring your property is always impeccably clean and ready for the next guest.

In addition to cleaning, a property management company can manage your property’s inventory, ensuring that all essential items, such as linens, towels, and toiletries, are stocked and in good condition.

Legal and Regulatory Compliance

The 90-Day Rule

On Airbnb, there’s a 90-day rule for short term property rental. This means that property owners can only rent out their apartment for a maximum of 90 days per calendar year. It’s essential to be aware of this rule and plan accordingly to avoid any legal issues.

Licensing and Permissions

Before renting out your apartment on Airbnb, ensure you have the necessary permissions in place. This may include obtaining consent from your landlord (if you’re a tenant), checking the terms of your lease or mortgage, and obtaining any required licences from your local council.

Health and Safety Regulations

As a short term property rental host, you’re responsible for ensuring your apartment complies with health and safety regulations. This may include installing smoke detectors, providing a fire safety information pack, and ensuring gas safety checks are carried out annually.

Obtaining Required Licences

Navigating the complex world of permits and licences for short term property rentals can be challenging. A property management company can help you obtain the necessary licences and permits, ensuring your property operates within the legal framework.

Staying Up-to-Date with Regulations

Regulations surrounding short term property rental can change frequently. A property management company can monitor these changes and inform you of any updates, ensuring you remain compliant.

Hiring a property management company for your short term property rental offers numerous benefits, from expert marketing strategies and efficient booking management to legal compliance and unparalleled guest experiences.

If you are considering a property management company for your short-term rental, look no further than SevenStays. Contact SevenStays today to learn more about our comprehensive services and how we can help you succeed in the competitive world of short term property rental. At SevenStays, we are committed to providing exceptional property management solutions, tailored to meet your unique needs. Let us take care of the stress and hassle of managing your short-term rental, so you can focus on what you do best. Click here to learn more about our services and how we can help you maximise your rental income and guest satisfaction.