Increasing number of Brits considering home hosting

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Couple laying on the floor, researching home hosting on a laptop

One third of British homeowners are considering renting out their homes to paying customers as a result of the growing popularity of hosting websites such as Airbnb, Tripping.com and HomeAway.

 

Homeowners in the North West, South East and Wales are most likely to be interested by the financial opportunities available with being a home host.

 

An average homeowner could expect to receive £250 from renting out their properties or rooms during peak periods of the year.

 

The study by Cover Builder surveyed almost 3,000 adults aged 25 and over who owned at least one property in the UK, to identify how much homeowners in the UK understand about home hosting and how many may consider venturing into the area in the future.

 

Less than one in ten (7%) revealed that they currently had a property or rooms they owned listed on a site for travellers to stay in.

 

Read more: Is it more profitable to rent out your property on a short term basis?

 

28% of respondents admitted that while their homes weren’t listed yet on a home hosting site, they were planning on doing so in the future.

 

78% revealed that the main reason for renting out their property or rooms within a property were monetary and profit focused.

 

12% revealed that it was in order to introduce family to new people from all around the world and 3% confessed that they’d be joining sites such as Airbnb to enjoy the company of others and feel less lonely at home.

 

A fifth (21%) said they had been advertising their property on a hosting site all year-round while 79% do so only during peak periods when a local city or town has an event that is likely to attract tourists.

 

Read more: Can you guess where rents are rising fastest in England and Wales?

 

The number of those interested in home hosting were revealed as follows:

 

  • South East – 16% (of those using or looking to list their property on a home hosting site lived here)
    • North West -14%
    • Wales – 12%
    • London – 11%
    • Scotland – 10%
    • South West  – 7%
    • West Midlands – 6%
    • Northern Ireland – 6%
    • Yorkshire and Humberside -6%
    • East Midlands -5%
    • East of England – 5%
    • North East – 2%

 

68% went on to reveal that they had been put off renting out homes by the thought of visitors damaging their property, while only 18% had either purchased or looked into specialist insurance for protecting property while home sharing services.

 

Rob Rushton, Head of coverbuilder.co.uk said: “Tourists are increasingly looking to sites like Airbnb in order to experience a more cultural trip and avoid bland or overpriced hotels, and as a result British homeowners living in areas that regularly attract tourism can financially benefit from renting out properties through sites.”

 

At Discount Landlord, we can provide specialist Host Protection Insurance to help look after your property when it’s listed on Airbnb. Call 0800 294 4522 for a quick quote today!

 

3rd November 2017