Demand for short-term accommodation in Bristol is resulting in a significant opportunity for homeowners to earn extra income while out of town – and the good news is, it’s easy to get involved
Bristol is more of a cultural and foodie hub than ever, with a thriving street art scene, a wealth of home-grown alternative music and new developments like Wapping Wharf and Finzel’s Reach making waves across the city. It’s no surprise, then, that Bristol’s tourism economy is worth more than £1.3bn, with visitors flocking to internationally renowned events like Upfest, the Balloon Fiesta and Harbour Fest every year.
With an influx of tourists comes an increased demand for short-term accommodation, which is where companies like Airbnb come in. Providing an alternative to hostels and hotels, Airbnb is an online marketplace offering anything from spare rooms to entire flats and houses to rent on a short-term let basis. Airbnb is a popular accommodation choice for groups, although only 44% of Bristol Airbnbs are rented as an entire property – resulting in a lack of choices for travellers who prefer a family-friendly accommodation for their trips to Bristol.
This type of property short-letting is a particularly good option for those who regularly work or travel away from home, for weeks or months at a time, leaving an untapped revenue source behind. The owners of these properties then benefit from the profit gained, with a two-bedroom property in central Bristol earning up to £2,300 a month. The property doesn’t need to be luxury to qualify for Airbnb – as long as it is clean, comfortable, and centrally located, it would be making money while you’re away. With the Free Assessment from Pass the Keys you can find out how much you could earn from your property.
“I have a music studio in Bristol, and I stay in Rome for three months to catch up with my business partners every year,” says Paul, a DJ in Redcliffe. “As I leave my home vacant during these months, I have been thinking about renting my flat on Airbnb to cover my mortgage – but I can’t manage the property while I’m out of town.
“A friend in London told me about Pass the Keys and I heard that they expanded to Bristol in September. These guys take good pictures of the flat, screen the guests, manage key exchange and do the cleaning. I just registered with them and look forward to hosting through Airbnb from October.”
Short let property management services like Pass the Keys manages every step of a short term rental efficiently, so homeowners have nothing to worry about.
Pass the Keys is available to anyone who is away from home for a collective ten weeks or more across the year. So, in an increasingly lucrative tourism market, why not make the most of your Bristol home?
Pass the Keys is the UK’s leading Airbnb management company operating across the country. To find out more about Pass the Keys, visit passthekeys.co.uk or call 0208 050 2818