The growing home-sharing industry – as popularised by Airbnb – is an exciting prospect for those looking to make money on their unused assets. AirDNA shows that there are now 34,601 Airbnb hosts in London, with many investing from abroad. This sub-sector of the market is incredibly lucrative, but poses a specific set of challenges: to begin with, not everyone can afford the time to travel to the investment property and refurbish it themselves, especially to the high design standards that the modern consumer now anticipates: let’s face it, we no longer expect an Airbnb to resemble a regular home.
At Homewings, we believe that our design packages are a useful tool in this scenario, and we were particularly pleased when a recent project of ours had such positive results for one overseas investor, who is now expecting a 29% ROI.
Cameron is an Airbnb host based in Australia and owns a [two-bedroom house in Earlsfield, London], which he once lived in with his current partner. It is now listed on UnderTheDoormat - providing hotel service quality with the personality and care of home living.
When Cameron returned to Australia in 2008, he decided to keep the property, and rent it out on a long-let basis. The problem that this posed was that he couldn’t stay in the property when he returned on family holidays, and so he decided to invest in the short-term letting market, by way of Airbnb. Cameron was able to return to England for two weeks to refurbish the property, but the turnaround had to be fast; the builders gutted the building in 24 hours! Homewings then designed a full refurbishment for Cameron, with our tailored visualisations. We’re glad to have helped turn Cameron’s concept into a reality, and we took a moment to ask him about why, as an overseas short-let investor, he came to us in the first place, and what that experience was like.
![Cameron Rylance design board]
**What was your main concern when entering the short-let market?** For me, the biggest concern was finding a reliable property manager to really look after the place and make sure that we get high-quality tenants. This is also why we chose to refurbish the property!
**What was the biggest lesson you learnt that could help other landlords in the same position?** Speak to others who have experience with short-term letting so that you know exactly what you are getting into. Actively managing a property requires a lot more attention, but I think that getting a first-rate managing agent makes it all worthwhile.
**Why was a high-quality and unique approach to interior design a key consideration for you?** My partner and I wanted the house to stand out in online ads – the photos you use to represent your letting really are everything: they’re one of the biggest factors when it comes to getting bookings.
**What made you choose Homewings above another interior design solution?** I chose you guys based on the quality of design and the level of style that you achieve. The place looks special, and not like just another furnished apartment.
**What return on your investment – if any – have you seen so far?** It’s still early days, but based on the current numbers I expect to see a 29% ROI, which I’ve calculated using the amount I invested in renovating and refurnishing the property. ![Cameron Rylance Airbnb bedroom] ![Cameron Rylance Airbnb kitchen] ![Cameron Rylance Airbnb bathroom] : https://underthedoormat.com/plan-your-stay/properties/excellent-earlsfield-home/?cf_checkin=&cf_checkout=&cf_PeopleCapacity=-1 : https://cdn-production.wecora.com/items/media/001/479/257/original/Sitting_Room.jpg?1522840655 : https://a0.muscache.com/im/pictures/811b0df2-0def-4d99-a0b4-1ac6bca83f75.jpg?aki_policy=x_large : https://a0.muscache.com/im/pictures/c18f3af3-5bbb-4032-b494-34f16eef2361.jpg?aki_policy=x_large : https://a0.muscache.com/im/pictures/c0d72bf1-d592-4c19-b1ad-8bb06fa8aaa8.jpg?aki_policy=x_large