Out of Office Hours
Glasgow 0141 270 7878
News & Blog
The latest property news & information from a trusted source.
Explore our property blogs, select a category from below
AirBNB, Letting
Maximising Profit in Short-Term Letting Management: A Guide
Maximising Profits with Short-Term Letting: A Complete Guide to Management Are you considering short-term letting for your property? Short-term lets, also known as holiday lets, have become increasingly popular in recent years due to the rise of Airbnb & short let rental platforms. It offers property owners the opportunity to earn extra income by renting out their property for a short period of time. However, managing a short-term let property can be challenging, especially if you are new to the industry. Introduction to Short-Term Lets and Holiday Lets Short-term lets refer to the renting out of a property, usually less than six months. Holiday lets, on the other hand, refer to the rental of a property for holiday purposes. Both types of letting involve renting out a property to guests who are looking for a temporary home away from home. Short-term lets can range from a single room in a shared apartment to a whole house or apartment. The rise of popular rental platforms like Airbnb & Booking.com has made it easier for property owners to rent out their property for short periods. These platforms allow property owners to list their property, set their own price, and connect with potential guests from all around the world. Short-term letting has become a popular alternative to traditional long-term rentals, as it offers greater flexibility and higher potential income. Short-Term Letting Services and Their Benefits Short-term letting services like CairnBNB offer a range of benefits for property owners, including: Professional management: Short-term letting including guest screening, cleaning and maintenance. Increased occupancy: help to increase occupancy rates and maximise rental income. Earn higher income compared to long-term rentals: Short-term lets can be priced higher than long-term rentals, especially during peak seasons or major events. Peace of mind: Short-term letting services provide peace of mind for property owners who do not have the time or expertise to manage their property themselves. Flexibility: Unlike long-term rentals, short-term lets allow property owners to use their property when it is not being rented out. Risks and Challenges of Short-Term & Holiday Letting While short-term letting can be a lucrative business, it also comes with risks and challenges. One of the main challenges of short-term letting is the need for constant management and maintenance. Unlike long-term rentals, short-term lets require regular cleaning, restocking of supplies, and maintenance of the property. This can be time-consuming and may require hiring additional staff or contractors to manage the property. Another risk of short-term letting is the potential for damage or theft of the property. Short-term guests may not treat the property with the same care and respect as long-term tenants, which can result in damage to the property or theft of valuable items. Property owners should ensure that they have adequate insurance coverage to protect against these risks. Understanding CairnBNB and its Services CairnBNB is a dedicated short-term letting management arm of Cairn Property, this focused department provides property owners with a range of services to help them manage their short-term let properties. CairnBNB offers a full suite of management services, including property listing, guest screening, cleaning and maintenance, pricing optimisation, and guest communication. One of the main advantages of using a management company like CairnBNB is that it allows property owners to outsource the day-to-day management of their property into these high-yielding, online portals. This can be especially beneficial for property owners who do not live near their rental property or who do not have the time or expertise to manage the property themselves. Importance of Property Management in Short-Term Letting Effective property management is essential for maximising profits with short-term letting. Property management involves a range of tasks, including guest communication, maintenance, cleaning, and pricing optimisation. Property owners who manage their properties themselves should be prepared to invest time and resources into these tasks to ensure that their property is well-maintained and profitable. Short-term letting can be a lucrative business for property owners who are willing to invest time and resources into effective management, pricing, and marketing strategies. Whether you choose to manage your property yourself or use a management service like CairnBNB, effective management is essential for a successful outcome. Are you ready to maximise your profits with short-term letting? Contact CairnBNB today to learn more about our services and how we can help you achieve your short-term letting goals. Visit our CairnBNB section to learn more.
AirBNB, Edinburgh, Legislation
cAIRnBNB
Ever considered renting out your property at a higher monthly rental figure with no stress as someone else is taking care of all the set up for you– sound too good to be true? With over 20 years of property management experience, particularly in the highly regulated HMO market, we are delighted to announce Cairn BNB which is a natural fit to our existing management services. We offer a strictly ‘hands on’ BNB experience, tailor-made specifically for you, whilst maximising your overall monthly rental income. We pay close attention to market trends and any upcoming local events to ensure all prices fall in line with accurate rental prices across the board. Cairn BNB presents a fantastic opportunity to earn higher income where the fast-paced environment is both exciting and highly profitable, as opposed to the traditional professional letting route. Read about the new legislation directive from the Scottish Government – click here. New hosts and operators ( Did you know ? ) If you were not using your premises to provide short term lets before 1 October 2022, you cannot take bookings or receive guests until you have a licence. All hosts and operators need to have a licence by 1 July 2024. There are four types of licence for short term let accommodation Secondary letting – the letting of property where you do not normally live, for example a second home that is let to guests Home letting – using all or part of your own home for short-term lets, whilst you are absent. An example of this could be whilst you are on holiday Home sharing – using all or part of your own home for short-term lets, whilst you are there Home letting and home sharing – operating short-term lets from your own home while you are living there and for periods when you are absent You can find the latest information about the regulation of short term lets at https://www.gov.scot/publications/short-term-lets/. At Cairn we have a dedicated AirBnb ( Short-term Let ) specialist, Mark Coll – today we asked Mark for his comments on the new legislation changes. “At this moment in time, the information on licensing for short term lets is very vague where more information will be released when rules come into force on October 1st. What we do know is that any properties currently operating before this date can still operate under the assumption that landlords apply for a licence before April 1st 2023 and have it granted by July 1st 2024. Any new short term letting landlords operating after October 1st are not allowed to let their properties out until a licence has been applied for and has been granted otherwise there could be a firm penalty – this is extremely important to know and to not get caught out. My advice would be to be prepare in advance of this date and start contacting your local authorities now for more information to get the best footing for when the legislation takes effect. After October 1st we will have a much clearer vision of the direction and future of short term lets where Cairn BnB will be the first to offer any advice and guidance on the next steps to getting things up and running for your property on the short term letting market. Please get in touch if you’d like to know more information on this or if you would like to get up and running prior to the October 1st deadline.”
