Summer 2023 to be “the best yet” for short-term lets

[SPONSORED CONTENT] UK-based short-term lets property management company Houst details why the upcoming summer season is set to be “the best yet” for hosts renting out their properties.

Short-term rental hosts are expected to earn 30 per cent more from their property this summer with Houst.

Have you started making preparations to cash in those peak-season nightly rates this upcoming summer? Get ready, it’s going to be a good one but that also means a busy one!

Summer is prime-time to reap rewards from short-lets guest bookings – typically nightly rates increase by 32 per cent, with seasonal cities seeing an increase of close to 42 per cent, compared to their all year round average. With Houst’s dynamic pricing algorithm, hosts can further enhance their gains, securing an extra 30 per cent on top of the current market rate while Houst manages it all.

A recent quote from a Houst host read: “Houst literally pays for itself and makes me a more than I would ever get! The best bit is you really don’t get involved at all.” [Stephanie based in Bristol, property in London]

Market outlook for summer 2023 

Houst, which claims to be “the world’s largest short-term property manager”, with 6,439 properties in 19 cities worldwide and over 370,000+ managed bookings, predicts that summer 2023 will be the best yet.

The company’s holiday let pricing experts and data scientists have forecasted that the number of available listings will increase 8.6 per cent from 2022, to an average of almost 1.4 million in 2023. February, which is known as a low-demand month, saw short-term rental guests tally 12.9 million nights stayed this year – up by 18 per cent on last year. London, Manchester, Bristol and Brighton continue to be hotspots this summer.

Although 2022 was in itself a record year for short-term rentals, with more nights stayed in a rental than ever before, looking into 2023 there is an expectation that demand will continue to grow by 5.7 per cent. Interestingly, Houst is also recording longer booking lead times [the time a booking is made before the proposed stay date] for 2023, as guests regain confidence in the ability to travel this summer. It is highly recommended that hosts open their calendars as soon as possible.

Even with the recent increase in the UK’s inflation rate, Houst’s data scientists believe the short-term market is still going to grow as more tourists switch from looking abroad for travel rather are now planning to book a staycation, still a cheaper alternative than spending on flights abroad.

Even with the recent increase in the UK’s inflation rate, Houst’s data scientists believe the short-term market is still going to grow as more tourists switch from looking abroad for travel rather are now planning to book a staycation, still a cheaper alternative than spending on flights abroad.

How much can an Airbnb host make per night over the summer? Houst recorded data.

Houst hosts in London earned an average daily rate of £365 between May – September 2022 for two-bedroom furnished flat. This year, it is expected to be even better!

A table breakdown for the UK cities we operate in of expected average nightly rates over the summer for a two-bedroom flat across the city.

Running a short-term let involves many different aspects and a high level of effort. From vetting guests, cleaning, keeping maintenance up to date and providing continued guest support, it is recorded to take up to 50 hours a month! That makes it very hard to manage more than one property in different locations.

As short-term rental popularity increases, so do guests’ expectations. Therefore, with summer being such a critical season for yearly hosting revenues, there is no better time to get a professional management service to run your property – freeing you up to do the things you love this summer. All while earning you a lot more, totally hassle-free.

Short-term hosting is hassle-free with Houst

Houst is a professional short-term rental management company that helps short-term property owners make more than running their property themselves.

It manages all housekeeping services and has developed a dedicated housekeeping app, which prioritises best-rated cleaners to ensure that properties always look flawless for their next guests.

Guest support is also available 24/7 to promptly answer live queries, with a dedicated helpline numbers for each city. The company boasts that 90 per cent of messages are answered within one hour, with an average communication rating of 4.6 on Airbnb, supporting multiple languages to cater for guests from all over the world.

Financial performance is also tracked, with real-time access to hosting revenue reports. Hosts can easily check their properties’ performance via a mobile dashboard, allowing them to be kept up to date from anywhere, anytime. Lastly, hosts also gain a personal account manager, who is just a phone call away to discuss their properties’ hosting availability, revenue strategy and upkeep.

How does Houst generate hosts 30 per cent more Airbnb income?

Houst’s OccuMax proprietary pricing algorithm effortlessly optimises nightly rates to ensure maximum occupancy, without sacrificing hosts revenue. Consuming thousands of daily pricing signals, Houst’s OccuMax is able to adjust and set nightly rates according to their highest potential in real-time throughout the year. For example, one price signal data point which is considered is local events happening near a property, automatically maximising revenue during big cultural festivals or seasonal holiday events for hosts.

Houst’s service allows its hosts to choose between listing their property on Airbnb alone or on multiple major platforms, depending on the hosts preferences. Houst’s technology ensures no duplicate bookings occur and provides hosts with easy-to-use interactive calendars to view all bookings across platforms.

Houst offers a flexible lettings strategy that combines short-term and long-term listings to maximise your income, with a dedicated account manager to guide your property strategy based on data. The proptech company also allows hosts to manage multiple properties under one account from a single dashboard, making rental business effortless. It further means that you can keep track of your short-term lets from anywhere, knowing that Houst’s experienced team has you covered.

If you’ve been contemplating holiday rentals, there’s never a better time to get started, especially with peak season quickly approaching. Reach out to the Houst team here and start making hosting hassle-free whilst making a lot more.