Traditionally, investing in buy to let property has been one of the most stable and assured methods of generating a lucrative, long-term passive income.
As the UK market is historically one of the strongest and most resilient in the world, it’s easy to see why global investors consistently choose thriving cosmopolitan cities like London, Liverpool and Manchester in which to direct their capital.
Norms and traditions, however, are two things that have increasingly taken a back seat in all walks of modern life. So, what of the contemporary world of buying to let property investment?
Well, although many of the traditional trends remain the same as the UK’s relative market strength and the consistent performance of important regions outside of London – particularly the North West -, there have been some notable market shifts that serious investors simply shouldn’t ignore.
Among the most significant of these is the rapid move towards investing in short-term rental property, thanks in large part to the steady rise of Airbnb – the world’s leading online booking platform for holiday lets.
Airbnb and similar companies like booking.com and Spare Room have enabled regular homeowners to become high-earning landlords, revolutionizing the industry on a scale never before encountered.
Every type of property of every shape, size, spec and location now has the potential to earn homeowners a sizeable extra income, while providing holidaymakers with a more cost-effective and independent experience than traditional hotel stays can offer.
There are, however, a number of factors to bear in mind before entering the market and like any investment, there are certain strategies that will maximize the income you can generate from Airbnb lets.
So let’s delve a little deeper into how to invest in Airbnb properties!