Pass the Keys launches new franchises in the UK

UK: Airbnb professional management company Pass the Keys has added new franchises in popular short-term letting destinations across the UK, including the Lake District, New Forest and Christchurch.

As a result, the company has taken the number of locations it spans across the country up to 27.

With staycations and national parks becoming increasingly popular since the start of the pandemic, Cumbria has been able to cement itself as one of the most sought-after locations to buy a holiday let.

Similarly, the New Forest is a popular tourist destination welcoming 15 million visitors a year, many of whom require short-term accommodation. The New Forest and Christchurch franchise is launching adjacent to the Pass the Keys Bournemouth franchise, which has seen a sharp increase in the number of enquiries from both hosts and guests.

Pass the Keys CEO Alexander Lyakhotskiy said: “It’s no surprise that people are escaping to these beautiful locations for staycations given the difficulty in travelling abroad. With a rise in demand, our mission is to provide homeowners in these locations with a hands-off way to earn more from their property by managing everything from guest communication and check-in to cleaning, linen and maintenance.”

While the dominant short let management companies may have been primarily concentrated in the UK’s major cities historically, Pass the Keys said it was focused on extending its operations to rural areas where there is demand for a new approach to short-let property management. The company lists properties on multiple short-letting platforms, such as Airbnb, and Expedia, to increase exposure and receive more [and higher value] bookings.

Lyakhotskiy added: “We are stepping away from traditional short-let management practices and changing the game in many of these rural areas. Tourists are increasingly demanding nothing short of exceptional when it comes to the short-term rental experience and we are here to provide this on behalf of homeowners in an increasing number of locations across the country.”

Airbnb CEO Brian Chesky recently acknowledged that the pandemic had had a profound effect on the travel industry with the rise of new and more varied destinations to visit. This presents an exciting opportunity for UK property owners as many start to consider short-letting in up-and-coming tourist destinations.

Pass the Keys also confirmed it is looking to recruit more partners to provide a “hassle-free” management solution to homeowners.

Last month, the company announced that it had raised over 200 per cent of its crowdfunding target on investment platform Seedrs, surpassing £1 million in investment. The company launched its crowdfunding campaign during the peak of Covid-19 and the majority of existing shareholders, including Talis Capital, participated in the round.