any Airbnb-era about?

[flingingmelon]

BIL has a three bed maisonette in Arsenal, very close to tube and stadium. He's just got a year contract abroad and he's thinking of airbnbing it out whilst he's away. His mate has agreed to manage it.

But he's trying to work out the figures behind it.

What kind of occupancy can he expect?

What else does he need to know?

Are there any Airbnb letter forums we can get more info from?

TIA

[badaboom]

Is your brother's mortgage and home owner's insurance okay with it? I prefer staying in self catering accommodation where possible when on holiday be it local or abroad. They have different pricing for weekly, weekend and daily rates including peak and off-peak season pricing.

As I'm not familiar with Arsenal so have no idea of the price point. Are there any local festivals or events eg LGBT etc? You could try a search on Air bnb and trip advisor for pricing.

Example: www.crown-gardens.co.uk/

[cestlavielife]

What about changing linen and cleaning etc ? If there s lot of changeovers it will be a lot to manage unless you pay a company to do all that.

[DaisyFranceLynch]

It's illegal in some London boroughs - a man in Westminster was fined 20k for doing it - and other boroughs have restrictions on it, or require planning permission (since it is seen as commercial rather than residential use).

I did it for a while and at 75-80pc occupancy I was making more than I could letting it normally. But cleaning and handover was a real faff and I ended up letting it long-term which is much less hassle. There are companies that sort out cleaning and handover for you but that would affect net earnings.

[GatherlyGal]

We have an Airbnb flat in our basement. Don't underestimate the work involved in cleaning each time. Guests expect a place to be spotless so the bed changing, laundry, cleaning etc is a big job - it's not just a case of handing over the keys.

It's good money though so you could get an agency to clean and still make a decent profit. Do sort out decent insurance though.

[flingingmelon]

Thanks for all your advice. He did a bit more research and it seems his borough also fines for more than three months.

Looks like he's found a private tennant.