Considering venturing into the world of Airbnb in Edinburgh but not yet convinced or don’t think you have the space to offer? Airbnb is growing in popularity all the time and Edinburgh is a great place to take advantage of the many benefits it has to offer, whether renting your spare room, flat or whole house.
A Bit of Extra Income
Of course, one of the main drivers of Airbnb property letting anywhere is the money – think what you could do with a little extra income every month. The amount you could earn is dependent on a range of factors from the amount of space you have to offer to your location and its closeness to tourist attractions or conference venues. How much you charge for your space is ultimately up to you, but market it right, and in a bustling city like Edinburgh, where the average Airbnb listing is £95 a night for a house, there is no reason why you can’t make a decent second income for yourself.
Embrace the Social Side
Finance and extra income maybe the most talked about benefit of Airbnb property lettings, but there are others and the social side is definitely one that shouldn’t be ignored. Open up your free space to travellers from around the globe, and there is no end to the number of interesting people you could meet. Hosting is a big part of Airbnb; you don’t have to spend time with your guests, but the more you do the better the experience. Listen to their stories, hear about their adventures, learn about other cultures and maybe even make lifelong friends. Being sociable and getting to know your guests will also help the feedback you receive.
Learn New Things
Another hidden benefit is the amount of new skills to be learnt with Airbnb property lettings. Put your property on Airbnb and learn about running a business, about hospitality and making your guests feel welcome, about advertising, marketing and social media, and about managing online profiles and reviews. Embrace the new challenge of short-term property letting and you will be sure to broaden your knowledge and skill set.
Many benefits of Airbnb property letting apply regardless of location, but not all cities are equal and Edinburgh is in demand; if you are lucky enough to be able to take advantage, then it is well worth it. In summer 2016, Edinburgh was one of UKs top visited cities and accommodation, whether for tourists or the busy business community, is always in demand, with hotel occupancy reaching over 90% in summer months.
With six of the top ten Scottish visitor attractions located in Edinburgh, it is busy year-round, but seasonal peaks in visitor numbers are evident and coincide with Edinburgh’s many festivals – the science festival, film festival, international festival, literary festival and of course the infamous Festival Fringe, which attracted 2,298,100 visitors in 2015. The festival spans the month of August, and with many looking for month long property lets, the opportunity to turn potential short-lets into month long rentals is not one to be ignored. And, despite the weather, Edinburgh doesn’t go quiet in winter either, with crowds of visitors descending on the city to experience the Christmas markets and the New Year’s Eve Hogmanay celebrations.
Furthermore, you don’t need to be in the city centre to reap the benefits of Airbnb – properties on the outskirts will do brilliantly as well, as whether on foot, the trams, trains or buses, Edinburgh is easy to get around and public transport is proficient; in 2016, Lothian buses, which serve Edinburgh and the Lothians, were voted Scotland’s Public Transport Operator of the year at Scottish Transport awards.
With so much activity, the demand for Airbnb properties in Edinburgh is increasing annually, and what’s more, Edinburgh is the 9th most expensive Airbnb city in the world, so why not take advantage?