How do you offer self check-in to guests?
We have always operated via self check in and with COVID-19 in effect, the more reason to do so to minimise contact with the unknowns.
If you can install a lockbox on your property wall or nearby. then a lockbox is the cheapest method.
Master Lock Key Safe £14.99
Great lockbox to get started. however it has 2 major flaws. 1: If at anytime guests do not scramble the code they are given to lock the key in the box. it is essentially accessible.
2: It can be a bit of squeeze to fit more than 2 keys and it doesn't sit 100% perfectly in the safe.
Apart from that, the safety features are good. we have managed properties for over 2 years now and never had a break in. only issues we have had is guests forgetting to scramble the code.
Supra C500 Key Safe £64.50
Although it is far pricier than the cheaper lockbox above. We highly recommend this every single time if picking a lockbox.
Not only is it policed accredited. it is far stronger & has a hooks for keys to be placed in, it has a auto scramble feature on the keypad. this lockbox will last for years.
A lockbox allocated near the main door allows guests to check-in and out for there convenience.
However a key will be your biggest concern with lockboxes, they are easy to copy & lose. meaning you will always need a spare set for emergencies.
A smartlock however allows a homeowner or guest to enter their home or provide others access without requiring a traditional key. Instead, the user uses their smartphone, keypad or a key fob to wirelessly verify and mechanically un/lock the door. You can also have a camera inbuilt to check the guests match there profiles and/or you can monitor what time and how often guests are coming in and out, as well as cleaners.
here are 2 great website links on smart locks
Recommended brands for smart locks
August smart locks
MAJOR ISSUE with smart locks is most of them are deadbolt or nightlatch fitting.
Most homes I've personally come across are
UPVC multipoint locks.
the only decent Multipoint lock I can recommend is the
Yale Conexis L1 Smart Door Lock
Although I recommend all the smart lock brands above, we have only personally worked with either the Yale Conexis L1 and the
Yale YD-01 deadbolt keyless lock
We will release our own blog eventually on smart locks as it is an ever changing field at the moment.
What protection do I have against property damage?
The Airbnb Host Guarantee provides protection for up to £600,000 to a host for damages to covered property in the rare event of guest damages above the security deposit or if no security deposit is in place.
The Host Guarantee programme doesn't cover cash and securities, collectibles, rare artwork, jewellery, pets or personal liability. We recommend that hosts secure or remove valuables when renting their place. The programme also doesn't cover loss or damage to property due to wear and tear.
Learn more about the
Host Guarantee click on this link.
What is Serviced Accommodation?
Refers to fully furnished properties which are available for both short or long term let.
This type of accommodation may also offer facilities similar to those offered by hotels.
In other words instead of renting long-term to tenants on a monthly basis, you rent on a nightly basis where you can charge more, but it requires more work to keep it up to a high standard.
This is where Airhosts4u Ltd comes in, we take the hard work away by using our systems we have set up.
Tax: Renting out your Property/Room
Official government website link with detailed information about filing correct accessment forms.
Residential Property with rooms to let:
This link from Moneysaving expert explains in great detail about how to do this.
In short £7,500 a year per room is tax free. After this you have 2 options to whether to declare all of it or put it on the scheme, it depends on how much you earn that defines which option you pick. speaking to our team, we can help with this.
Buy-to-let Mortgaged property:
This is a great link that explains how do this in great detail:
Tax on Airbnb income
In short, you could simply inform your mortgage and insurance that you will be doing short-term lets, however not all BTL mortgage & insurance companies allow change of occupancy on there policy's.
It is up to you if you wish to keep operating under the BTL mortgage and filing BTl self accessment form etc. but you can not claim wear & wear deductions, council tax reductions & declare interests of your mortgage payments as expenses this way.
Basically you are not minimising your running costs keeping it this for the long run.
We would always recommend if your serious about keeping your property in the short-term market to think about switching to the
Furnished holiday let model.
Furnished Holiday Let Mortgage:
Swapping to the
Furnished holiday let model gives you great tax breaks & reliefs as well as include mortgage interests as an expense.
In short, greater profits & less tax.
Here is a link to the goverment website on
Furnished holiday lets (HS253)
Guidance of HS253 Furnished holiday lettings (2018)
Owning your property outright:
Swapping to this model only requires 1 step & 1 optional step.
1. Fill out or inform your accountant to use the HS253 self accessment form.
2. Use specialist insurance to cover for short-term lets. however Airbnb already have host guarantee of £600,000.
Long story short, it is not easy if you have never looked into it before. even preparing your furnishings & cutlery can set you back a couple of days.
This is where we can come in, we can get you setup very quickly no matter what stage you are at, furnished or unfurnished.
In all situations a free consultation to obtain further advice and assessment with a short-term rental specialist may be time well spent to better determine if the short-term management of your property is an option that helps you meet your goals and needs.
Where do we currently operate?
Our Main area is the North-west of the UK. Our head office is in Salford/Manchester however we have/do run properties in:
Manchester City Centre,
North/north-east of Manchester
East of London,
Do we plan on using more vacation rental channels?
We currently use iGMS Property Management System.
Before COVID-19 our research showed 90% of guests that book vacation rentals before COVID-19 booked via Airbnb in the majority of areas across the UK.
We used to list only on Airbnb, VRBO & Homeaway. and alone with these 3 platforms we rented sufficently above our predictions with not many gaps.
We did try booking.com before but unsecure/missed payments, quality of vetting guests and no insurance cover put a stop to this and all channels that didn't offer these securities.
Since then we are now in the process of switching our Property Management System over too Hostfully where we will list on our very on Direct booking site, booking.com and tripadvisor!
Why have we only decided to diversify out to more vacation channels and a direct booking site?
Most points about this is already explained above. however due to COVID-19. The Short-term let market has changed drastically and updates to vacation channels have changed. Airbnb does not dominate as much as they used to and even google is moving into vaction rental field.
The main issues we had before COVID-19 have now been addressed.
We never like to jump into other channels without having the same assurances across all platforms.
Compared to the other tradional vacation channels like
Tripadviser airbnb offers far better security, simplicity & control.
Visit this official Airbnb link:
How airbnb covers you.This link explains the 3 points stated above in great detail.
How quick can I start?
Whether you are already a host on airbnb or you are new to this, from the moment your property is ready for professional photos, we will get you up and running within 5 working days.
Who is Airhosts4u for?
Whether you have a residential property and would like to boost your income with a spare room or would like to earn money from it whilst your away, we can manage your listing to earn you an extra income without all the hassle involved.
BTL landlord whos profits are being hit by the tax changes that are coming into full affect by 2020 and would like to maximise your return and pay less tax by swapping to the serviced accomodation market.
Property investor looking to have more control, less hassle & better tax reliefs.
A Holiday Home looking to gain income whilst you do not use it / off-hand management.
We can achieve the highest potential income without compromising on safety, then we are the right service for you.
Who should short-let their property?
These clients need access to their property or live in it. These clients want to earn extra money from their property while it is empty. The flexibility of short-letting enables them to have the best of both worlds.
Managing & remaining competitive to get guests when your listing is available is not easy, of course you can do it yourself however if you do not want the hassle and would like to maximise your earnings this is where we come in.
Full-time clients: most of our clients are moving from the standard AST to the serviced accommodation market for 2 main reasons, more control of their property & the potential to earn better profits . The majority of properties with 75% occupancy on the short-let market give a least 30% better returns than long-term market.
Even with higher expenses most landlords earn significantly more with short-letting.
Not only that you can claim all expenses apart from improvements & renovation as tax deductible unlike the tax change affects being enforced by 2020 on ASTs. visit our blog for difference of ASTs vs FHL.
What we do is look at your potential long-term rental market rate and compare it to the short-term rental income, this becomes our bare minimum red line. Majority of our valuations are 50-150% more profitable, this does not take into account the tax reliefs!
In short, the profitability is often superior than a traditional renting, but comes with some responsibility if you choose our commission route, for complete hands off experience like a long-term tenant, we offer competitive fixed rent management agreements.
You have far superior control & regular maintenance (at every change of tenant).
You are not bound to the long rental periods.
To find out what you could earn, simply use the Airbnb calculator provided on the Home page or get in contact. Remember this is the average, we have always performed higher than average for all our clients!
For more information on the pro's and cons of short term rentals have look at these 2 links:
I am nervous I will not get a steady income, can I still benefit?
If you are still interested in having more control (for example you have had void periods or bad tenants). yet we can see using our systems that your property has the potential to earn more on the serviced accomodation market.
We offer a fixed rent management contract with similar conditions to a standard long term tenant.
Fixed Rent tab in FAQ for more information.
I take great pride in my property! I worry about wear/tear & damages!
That is great! This is the main reason our clients come to us because there tradional tenants do not look after there properties!
Straight to the point: wear, tear & damages are inenvitable whether you rent it via tradional or short-term.
Not only in our experience is it less wear & tear in the short-term let world but it is far easier & quicker to get your claim heard and paid.
To achieve this we do the following checks on a 6 monthly basis:
Inventory check forms. (inventory health/price/receipt/image form)
Short-term let check lists. (Equipment & utility check list)
& Property Inspection Report.( Property health form)
& our cleaners take on the responsibility of keeping on top of essentials & reporting issues & pictures before and after each stay.
If any issues occur you can claim via the cacation rental platforms resolution centres, majority of issues are resolved within 2 weeks maximum and they will reimburse you for the repair or replacement of the damages.
Also you can claim this as an allowable expense on your tax forms.
We have stated its less wear & tear unless your property was unfurnished that is... question is how?
Your property will have about 75% occupancy, that means on average it will be empty 91 days a year.
Where horror stories come in is either due to ignorance or being unlucky. for example if you rent your property around new year, festival times and/or christmas the risks are far higher for issues to arise.
Majority of guests also do not spend as much time in the property as traditional teants either.
These void days allow flexibility for you to either use it, do redecoration or renovation projects without worrying so much about void periods actually hurting your profits!
We use seasonability & data analytics to automatically block/price your property right to attract the right types of guests to stay at your property.
Visit this link;
Airbnb Host guarantee, to see what they cover.
This link from propertytribes forum explains not only about wear & tear but about other issues to:
Why use Airbnb?
They offer secure & simple payment to hosts via paypal, direct debit etc. we have heard some channels not paying hosts because they allow credit card payment for example and or take weeks to pay. airbnb pay either next day after guest or staggeerd during there stay.
Before COVID-19 Airbnb was the fastest growing and the leading forefront of travel industry in the world. every day they continue to grow and have been growing worldwide on average 70% per year.
How is the fixed rent 'Guaranteed'?
There are only 2 real methods to offer 'guaranteed' rent, either short-term landlord insurance or a 3rd party guarantor. we have chosen to offer the latter.
Who is airhosts4u ltd partnered guarantor?
Rented.com. A multi million pound company that can offer guaranteed rent. For further information on how this is guaranteed, please visit their website.
What does the guarantor get out of it?
They charge a minimum of 5% variable rate upwards of the revenue Airhosts4u ltd make on your property. If we involve rented.com into the fixed rent contract, we have to offer a lower fixed rate by at least 5% to make it work for all parties involved.
Does it affect the process of setting up a property?
Yes, rented.com will liase via email and phone call to inspect the contract, evaluate the agreed fixed rent, create there own report and inspect the property.
This usually takes between 2-4 weeks to setup.
What does the guarantor actually cover in the contract?
If the Landlord’s net annual income is below the annual guaranteed amount, the difference is paid directly to the landlord by Rented.com at the end of the annual term. However the intention is per the clause below:
Property Management Company to make up any shortfall on a monthly basis within their capability & that a claim to rented.com will be made if Property Management Company cannot pay rent as agreed.
In case of bankruptcy, rented.com guarantees to honour rent until completion of termination.
The Main Benefits of Fixed Rent
Whether the property is empty or not, you still get paid. You will know exactly what will arrive in your bank account every month for the duration of the contract.
No agent commission/fees involved, no tenant fees and no hidden extras to pay.
Legal Fees Eliminated:
If Property Management Company miss a payment and landlord does not settle this within 3 days with the Property Management Company, termination of the Contract will happen within 30 days.
No Void Periods:
We pay even when the property is empty so there are no void periods on the property for you unless the property is rendered uninhabitable. With the average void period between tenants of nearly 3 weeks a year this will really help secure your income.
You won’t be bothered at any time by the tenant residing in the property. No requests in the middle of the night to deal with a burst pipe or broken boiler! We organise this all for you
Internal condition guaranteed:
It is within our best interests to make sure the property is kept in the best condition to provide our guests a high quality service.
The lower the fixed rent. the higher maintenance cover we offer.
*subject to fair wear and tear, so if things do get damaged, we take the financial hit*
How does it work?
We effectively become your professional tenants.
The contract will allow us with your 'consent' to sub-let your property on the short-term let market
We will pay a fixed monthly income to the landlord over an agreed period.
There are 2 ways to legally sublet a property. either a management contract or a commercial lease contract.
We have selected to offer a management contract. For 1 main reason, the landlord still retains control of there own property. A commercial lease contract effectively means handing over all control of your property.
Before we even offer a fixed rent deal, we will analyse your property to see what the total revenue minimum-maximum potential is in the short-term market vs the long term market.
We do this using data analytics from sites such as airDNA, airbnb's calculator and a few of our own internal spreadsheets/procedures.
Our fixed rent come with responsibility/break clauses such as:
These responsibility/break clauses alone are far better terms than any AST contract with a tenant for landlords.
"If Property Management Company miss a payment and landlord does not settle this within 3 days with the Property Management Company, termination of the Contract will happen within 30 days.
"In case of bankruptcy, the property management company termination of the contract will happen within 30 days with the benefit of the furniture included.
Except as may otherwise be expressly provided herein, Landlord shall be responsible for repairs to the exterior and structure of a property including but not limited to problems with the roof, chimneys, walls, guttering and drains. Landlords must make sure the equipment for supplying water, gas and electricity is kept in safe working order.
Landlord agrees the Property Management Company shall be responsible for paying all costs and expenses associated with cosmetic/preventative maintenance and operation of the property,
Property Management Company will inspect Landlord’s Property at least once per quarter and give Landlord a report of the condition of the Property (report including pictures) as well as to make recommendations that may assist the Landlord in making the Property more desirable to guests. Landlord agrees not to allow the Property to fall below fitting for purpose standard. In the event that the Property does fall below Property Management Company's opinion of being fit for purpose, Property Management Company will notify the Landlord and the Landlord will have twenty one (21) days to bring the property up to highlighted points.
How will Airhosts4u ltd still provide my fixed rent in an unlikely situation the given property fails to achieve a monthly total running costs?
Airhosts4u ltd has been operating since October 2018. At the given date of February 2020 we currently manage over 15 properties on either commission or fixed rent contracts.
10% to 150% more than the standard market, how does it work?
We effectively become your professional management co-hosts.
Many professional short-let management companies will only offer to be the hosts of your property.
So if you ever decided to manage yourself or transfer management, you will lose all the reputation that has been built in your live listings and they keep all the reviews on there system.
Why is this important?
It takes 3-6 months to build up a solid review of where you sit in the market and a year to work out your local seasonal demands. The longer your listing is built on the short let platforms, there SEO push you up the top of the searches just like google but without the paid.
This is vital to maintaining a steady stream of visitors looking at your property online.
Why the wide range of 10% to 150%?
This depends on what stage you are at, condition and where your property is located.
*Not all properties earn more than a standard long-term market rate*
For example if you are already
a succesful host of your holiday let(s), managing everything (including cleaning yourself) then your potential gains will be less as you will have to take into consideration our management fee and cleaning fee.
We will review your listing(s) information, pricing/occupancy rates to help try maximise your listings potential and guide you in tax, bills, maintenance & essentials to minimise costs.
Residential/BTL/Holiday Properties that are not listed on short let platforms could possibly see upto 3x more profit than the standard long-term tenant market rate.
We use data analysis tools such as airDNA that gather data over 10 million listings world-wide on Airbnb & VRBO. although the short-let market is ever-changing world-wide it helps give us a performance insight of the supply/demand of short term guests.
Even if your property performs the same average of yearly rental income compared to the long-term tenant market rate. you should find the HS253 self accessment tax form charges you less tax.
The Main Benefits of our 15% Management Fee
Although there are many benefits to listing your property on the short-term market. It does come with many responsibilities. Majority of these responsibilities are explained within our services section.
The responsbilities we help manage are the following:
Many property management companies will set-up your property under there name.
Although you then gain the benefit of having all there reviews and SEO rating to initially help kick off your listing. They essentially take all the perks with them if you ever decide to change the property management company / close down or manage your property yourself.
Our expert knowledge: of setting up/improving/managing your listing.
Guest communications: guests message 24/7 expecting responses as soon as possible.
cleaning, wash & dry.