People become landlords for all sorts of reasons. You don’t need to be an experienced investor or have multiple homes to benefit from letting properties. However, if you live in Edinburgh, you can supplement your income and make the most of your property by tapping into the city’s lucrative short-term letting market.
With the ever-rising ticket sales for major events and continuing shortage of housing in Edinburgh it seems unlikely the demand for short-term lets is going to diminish. Edinburgh remains one of the most prosperous places in the UK outside of London with a huge amount of inward investment and the highest level of disposable income.
Edinburgh benefits from distinct seasons where demand for property, in particular short-term rentals, goes through the roof. The first is August when the Edinburgh Festival season begins. In 2017 over 3,000 shows put on more than 50,000 performances, with over 2.5 million tickets issued. The festivals attract hundreds of thousands of visitors, many of whom need somewhere to stay in the city and the surrounding areas. Whether you’re looking to let your property for a few days to escape the madness, or for the duration of the festival to miss it entirely, there are plenty of opportunities to do so.
The second peak time is Christmas and Hogmanay. The three days of celebrations attract over 150,000 people to the city, many of whom come from overseas and from the UK outside of Edinburgh. In 2016 75,000 people attended the street party alone! This represents a valuable opportunity for landlords, or even people who want to supplement their income while they enjoy the festive season elsewhere.
Our team of local experts knows the Edinburgh market inside out. They’ll help you attract the highest calibre of tenants, sort out the legal paperwork and ensure you’re compliant with the relevant regulations, and prepare your property for rental. Getting an agent to manage your short-term rental means you’re free to get on with your life and avoid the normal stresses and strains of being a landlord. Get in touch today to find out how we can help you make the most of your property.