Home owners are being encouraged to earn extra money by letting out their houses.
Owning your own home is a dream that many of us aspire to, but it’s one that’s becoming further out of reach – not only due to mounting purchase prices, but also to the increasing cost of running your own property.
The need to make your home pay for itself is rapidly on the rise, so it’s no surprise that savvy homeowners are listing their properties on Airbnb and other short term lettings platforms in order to cover their escalating costs.
Airsorted, the short-term property lettings service, has so far helped Edinburgh-based homeowners earn over £4 million from their properties, and has seen a surge in the number of people deciding to let out their homes in the past two years.
It’s a well-documented fact that Edinburgh is one of the most expensive cities in the world to own a property in, while recent figures have shown that it can cost Edinburgh homeowners around £1,700 a month (£20,400 a year) in running costs for a three-bedroom property in the Capital, which equates to around half of the average take-home salary for couples.
But using the service over the summer months has been proven to earn homeowners as much as £9000 – enough to live half of the year effectively mortgage-free.
Airsorted sees homeowners sign up for eight weeks’ worth of lettings per year, which can be split as required – from a weekend here or there, to two weeks over your family holiday – allowing total flexibility and a simple way to make extra money when your home would otherwise be lying empty.
If you’re dreaming of a new kitchen or bathroom, or your period property requires urgent (and expensive) repairs, one summer of letting out your home with Airsorted can help homeowners cover the costs, ensuring that you can pay to upgrade your fixtures and fittings, pay for much-needed maintenance, or simply treat yourself to a well-earned break.
Victoria Tweedie, 43, uses Airsorted to let her five-bedroom property in the New Town on weekends, during holidays and over the festival season, staying in the Scottish Borders while it’s in use. In 2017, she made nearly £10,000 letting out her home during the Fringe Festival and plans to do the same thing this year.
She said: ‘When I first signed up to Airsorted, they took care of everything for me. They now manage all of my bookings, plus the cleaning and changeovers, which makes the whole process much smoother, especially during the Festival when things get really busy. They make me feel reassured about letting my home to strangers.’
Imogene Keane, Edinburgh City Manager for Airsorted, added: ‘The rising cost of living has definitely encouraged homeowners to think differently about ways that they can make extra money; letting out your property on a short-term basis with Airsorted is a simple way to do this.
‘We’re seeing a surge in enquiries about letting out properties on Airsorted and it’s no surprise; Edinburgh has huge appeal worldwide and we want to help our clients make the most of the demand, using their empty homes to boost their own incomes.’
Visit Airsorted for more details.