Buy-to-let landlords 'can make £100 more a week renting property on Airbnb'

London now has the third highest number of Airbnb listings in the world

Joanna Bourke
Monday 07 March 2016 15:08
The Ritz in London: pricier than Airbnb
The Ritz in London: pricier than Airbnb

Airbnb could make London's buy-to-let landlords £100 a week more than a standard rental agreement, according to research.

The average weekly price for London properties listed on Airbnb is £450, while the average weekly rental price for tenants in the capital is £335, according to residential specialist JLL.

Founded in 2008, San Francisco-based Airbnb has soared in popularity as homeowners welcome the way they can supplement their income by renting out rooms and properties for short stays to travellers.

London now has the third highest number of listings in the world, reaching 25,357 homes at at the end of 2015, JLL said, behind Paris and New York. The figure in the capital at the end of 2009 was just 171.

Nick Whitten, associate director in JLL’s research team, said private rental landlords could earn a third more per week using the service.

But Whitten warned: “If a property is used for more than 90 days a year for short term rentals, it could be considered for a change of use from a residential property to a hotel. This means Airbnb is more likely to be attractive for minimising void periods, when a landlord’s property is vacant.”

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