New Years is a special time of year and many tourists travel a long way to spend it with their loved ones. On New Year’s Eve, London comes alive with celebrations, fireworks and parties. Tourists book in advance for a range of events like New Years’ dinner, river cruises or nights out. Home owners should take advantage of this influx of visitors and rent their property out. Make your stay one to remember and welcome your guests into 2019 with a bang!
As the new year fast approaches, the short term rental market continues to grow. Airbnb is becoming increasingly popular for short London breaks, many landlords in London are turning to the platform to offer their accommodation out on a short term basis and keep up with busy seasonal trends.
Short term rentals come with many benefits that are attractive to landlords. There are less commitments and restrictions to guests, unlike long term tenants who work through a contract. Landlords can use pricing strategies to fluctuate the amount they charge for peak periods of time – often earning much more per head on a nightly basis that with a traditional letting tenant.
What Are Property Management Services?
London property management companies offer professional services designed to help landlords get the most from their short term rental opportunities and take their property portfolio to the next level. Whether you have one dwelling or multiple homes, property management services can get you the most from your properties. Find out why London landlords are investing in these guest management services now:
7 Reasons Landlords Are Investing In Property Management Services in Peak Seasons:
#1 Effectively Manage Administration
Listing your property and processing bookings can be a huge amount of work, particularly for landlords who own multiple properties. This time pressure can be further escalated during peak seasons like Christmas and New Year in London.
Property management services can handle every aspect of administration for you. when listing your properties on multiple sites, such as Airbnb and Booking.com, your property management company can ensure that the property is blocked out once a booking is made and that information is kept up-to-date. This prevents double bookings and the loss and guest dissatisfaction that can be incurred from this.
#2 Timely Guest Communication
Responding to guest enquiries and queries about the property can be a time-exhaustive process. During the festive break and New Years, guests often want to find out what local events are worth attending and how to get there.
Your London property management service will deal with this whole process, providing prompt and friendly communications that guide guests through from initial enquiries to booking, and then maintain reliable contact throughout their stay. The property management service will be the face of all communications if desired, allowing you to remain anonymous and removed from the process.
#3 Listing Your London Property
For landlords it’s important to have your property filled as much as possible, as a vacant property will not generate any return. This shouldn’t be an issue during peak seasons, but you should still marketing your property the right way.
When going down the traditional letting route, estate agents will handle the marketing side of your property. These agents have access to huge databases of potential tenants and use their connections to list your property, but in the short term rental market the landlord can be left alone to deal with this side of the listing process. Property management services can fill this role, marketing your property professionally to get it filled as quickly as possible and with the right type of guest.
#4 Improve Your Short Term Rental With Simple Techniques
It can be surprising how a few quick tweaks can accelerate the potential of a property!
It is the little touches that go along way – from providing a local map of the London Subway, to leaving a few party poppers on the dining room table.
Your London property management service can offer professional consultancy on interior design and maximising the space within your property, using quick optimisation tricks like adding in sofa beds to open up the space to larger groups, or investing in optimal WiFi across the accommodation to cater for business travellers.
Adding in focal features and quirky interior design, or capitalising on a feature already present within the house will also allow you to charge the optimal amount for your property and help it stand out against similar listings on the Airbnb marketplace. Property management service providers have a huge amount of experience in transforming properties and getting the most out of what’s available – offering professional consultancy to London landlords and supporting the implementation of these recommendations as needed.
#5 Give Your Guests a New Year’s to Remember
Property management experts are highly experienced in providing outstanding experiences for your visitors – generating positive reviews and increasing the amount of repeat visits. Host management services can deal with your guests at every touchpoint of their customer journey and provide additional value, including: prompt communication to initial enquiries, sending over rich information about their stay ahead of your guest’s visit, offering a flexible check-in to suit the guest, ensuring toiletries are fully-stocked and refreshed, providing 24/7 support to guests during the stay and more.
#6 Property Maintenance
It is important to deal with any maintenance issues with your property as soon as they arise. Your guest turnaround can often be quick paced, dealing with the maintenance in a timely manner is crucial to getting things fixed for the next guest.
Property management services can give a rapid response to any maintenance problems and issues with utilities. They can also monitor the general state of the property after each guest visit to spot any issues before they develop – something which can be difficult to do for landlords who own multiple properties and other commitments.
#7 The Price Needs to be Right
One of the biggest struggles for London landlords in the short term rental market is the inconsistency of revenue – London landlords can see huge amounts of fluctuation in popularity during peak tourist seasons but then struggle to fill their bookings throughout the quieter periods.
Property management service providers act as business consultants for landlords, helping them develop a pricing strategy that will ensure you capitalise on peak times and that this is effectively spaced out in earnings throughout the year. Property management businesses use advanced algorithms and industry insights to develop these pricing strategies, making them an invaluable layer of support for landlords looking to plan their finances efficiently.
List Your London Apartment This New Year’s and Get Support From Property Management Company
Our expert services are tailored to your needs as a landlord – we can handle as much or as little of the short term guest rental process as you desire, supporting on everything from property listing and guest communication, to pricing strategies and accommodation maintenance. To find out how we can help you, get in touch today. To get started, simply fill out our quick enquiry form and tell us a bit about your property portfolio, here.