Of all real estate investments, Short term apartment rentals are an excellent investment! The monthly gain can be multiplied by renting a residence or an apartment through a combination of medium-term and short-term rentals. For the same period of occupancy, owners can receive double or even triple the standard monthly rent.
A profitable and ultra-flexible business, yet very restrictive! Rental property management is no easy task. It commits your time to the search for new tenants and the maintenance of the property. So, how can you prosper without having to worry about Short term rentals property management?
Who should you entrust with the rental property management of your apartment?
Several property management solutions are available to landlords who want to start a Short term rental business. If you own a residence in a tourist region, a property letting management company will take a close interest in your property. This company will ensure that you make a good turnover on your investment. It will also be the one who will take care of the reservations.
A property management company will also rent out its services in Short term rentals property management. However, it will allocate a significant cost to the rental property management of your residence due to maintenance and repair costs. You can also contact a rental property management company to benefit from the same services.
You can count on them to publish regular announcements and ensure the maintenance of your apartment. A property management company can offer you a range of services for remote Short term rentals. With all these options, you will be spared the constraints of rental property management. Nevertheless, the associated charges can depreciate the profitability of your investment.
It is, nonetheless, possible for you to take in hand the rental property management of your apartment, but it remains a very demanding job. In addition, seasonal rental offers saturate the market. There is no guarantee that you will find a tenant. The periods of rental void period will, thus, distort the value of your monthly income.
Short term apartment rentals: how to proceed?
Think about rental property management
The rental property management is an innovative formula reducing to nothing all the constraints of a Short term rentals property management. It allows you to build up an income without the inconveniences of a rental property management. Moreover, it is the most comfortable option if you own several real estate assets and do not have the time to take care of them personally. This is what Upperkey Rental property management company offers its clients: a tailor-made service for investing in rental properties without the constraints of management.
In concrete terms, Upperkey will rent out your residence. To do so, it will sign a rental contract with you for a fixed term. Once the lease is signed, Upperkey will immediately pay you a deposit of up to six months’ rent. Through this contract, you grant us the seasonal rental of your property, so that we can make your investment profitable.
It is a Property letting management method where you will no longer have problems with rental void periods. Whether the rental property management company has found tenants for your apartments or not, its commitment is firm as soon as the contract is signed.
More efficient than a rental manager, the property management company will take care of the maintenance and enhancement of your property. On average, these rental property management costs are estimated at 20 to 25% of the rent. However, the agency will cover maintenance and energy bills. Therefore, such a concept of Short term rentals property management can only be synonymous with a very advantageous investment.
Valid reasons for delegating the management of short term rentals in London
Although a seasonal rental is more profitable than a long-term lease, you must have understood that rental property management is demanding.
Now you know how to delegate the management of short term rentals in London. Among them, the Property letting management expert has highlighted the advantages of lease-management. Indeed, this option in Short term rentals property management has real advantages.
1- No more need to prospect
Attracting new clients is a full-time job. The work can be unsuccessful, despite your efforts in prospecting. With Upperkey, publishing ads and making bookings is an integral part of the management of short term rentals in London. You can, therefore, be completely free of it.
2- Great flexibility
With a rental property management company, you can personalize the lease by setting the seasonal rental schedule. A rental can be scheduled only for the periods when your apartment is available. This can be during the summer or when you are away from home. With rental property management, it is even possible to make your property profitable before it is sold thanks to a fixed-term rental.
3- A guaranteed rent
Off-peak periods reduce turnover. However, by renting your property to a rental property management company , your investment is profitable even if there is a rental void period.
4- Taking charge of rental property management
The rental property management company takes care of the various logistical aspects of Short term rentals. Indeed, its core business remains the concierge service. This way, you can free yourself from the constraints of apartment rental property management and move on to other occupations. It ensures the reception of the tenants, the inventory of fixtures, the cleaning, and the maintenance of the property.
5- Increased profitability
It goes without saying that a seasonal rental is a lucrative investment compared to a classic lease and Airbnb offers. Moreover, by instructing a rental property management firm, you will be able to test various more profitable options.
Besides, the possibility of re-letting your apartment by making a mix of a medium rentals and short term rentals will optimise the price of the rent offered to the owner by this rental property management company. As a bonus, the rental conditions of your apartment are fixed before the signature of the contract. You will therefore have no unpleasant surprises throughout the duration of your lease.
How to benefit from a property rental-management offer?
A Short term rental property management Company , like Upperkey, has a digital platform, accessible anywhere. Thanks to ubérisation, geographical distance is eliminated. All subscription procedures are carried out online and you benefit from total transparency on the terms of the contract.
Instead of publishing ads on Airbnb, your request for a holiday rental will be studied. You will immediately get an estimate of the rent of your property. Depending on your geographical position, the value of your property and its investment possibilities, the rental property management company will determine the rent.
After the negotiations, the signature of the contract and the handing over of the keys, you will be able to charge the rent. Upperkey will then pay you the corresponding amount. This way, you won’t have to worry about occupancy. At the end of the lease, Upperkey may suggest that you renew the contract if you wish to continue your business. It’s a simple way to take advantage of Short term rentals and free yourself from rental property management.