Property Investor Today released 2023 rental market insights for the UK, with Advantage Investment’s Senior Investment Consultant Daniel Myatt sharing his thoughts. Part ofthis articleincluded predictions around short term letting, but how much revenue can you expect with this strategy?
Daniel outlines how rising interest rates are outweighing rental income. With AST (Assured Shorthold Tenancy) investors challenged to make profit, he predicts that only the domestic tourism industry will benefit.
Encouraging investors to ‘make hay while the sun shines’, he advises the most important factor is location. Although location is important, it’s crucial to remember the quality of the property and type of accommodation you’re investing in. All are key metrics for short-term letting success.
Including stats on occupancy, here’s how Staykeepers projections compare for 2023:
Property Investor Today
But let’s take it one step further, how much revenue could you see in these areas? Please note these are sample projections, clients receive bespoke projections before launch so these may fluctuate.
20-80% more revenue than ASTs
These projections accurately predict how Staykeepers would perform in York, Liverpool, and Manchester (if not a little on the safe side!). If you have received projections that are lower than what Staykeepers are showing, you might wonder why.
It all comes down to how the projections are calculated and how Staykeepers market your properties.
Utilizing over 100 million data points, projections are calculated to consider events, seasonality, local competitors, and more. It’s the same logic applied to our AI dynamic pricing technology.
Every property with Staykeepers can be marketed on 450+ channels to ensure demand. This demand is converted into bookings, where you achieve the best price the market will pay for.
Multi-channel marketing means we can optimize the price individually on each platform. Prices are updated daily to maximize both revenue and occupancy. The tech even considers competitors’ prices within a 0.3-mile radius of your building.