What does Air BnB mean for Belfast Landlords?

Posted: 25/11/2016


What is AirBnB and does it mean anything for Northern Ireland landlords? AirBnB is a website for holiday property owners to advertise and take bookings. It has become very popular with bookers but it has been accused of adding to the housing crisis as some landlords turn their long term rentals into holiday lets. In Belfast, where there has been a shortage of hotel accommodation, landlords with suitable properties have switched them to holiday or "serviced" lets. This involves supplying much more than on any normal furnished letting. Everything from knives and forks to clean sheets has to be provided, as are cleaning services, heat, power, wifi, etc. The upside is that landlords can charge much more. Average figures in Belfast for apartments range from £100 to £200 per night, depending on size, location, quality and length of stay. A two bed city centre apartment obtaining £750 per month on a normal let could fetch between £3000 and £4500 a month if fully occupied. Sounds good but there are a lot of expenses to take out of that, there is no gaurantee of full occupancy, there is potentially more wear and tear, and there is a lot more work involved. At Key One Property we are currently trialling one apartment, looking after advertising, bookings and servicing for the owner. Time will tell if it is more profitable or not but if you have an interest in this then please give us a call or email: 028 9045 6162 (24 hour) / keyone@ntinternet.com

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