As the UK anticipates another summer of staycations, many consider renting out their properties on platforms like Airbnb. However, a decade-long host warns that the reality of this side hustle is far more demanding and less lucrative than often perceived.
Initially adopting Airbnb in 2014, the host began renting out a Soho flat while traveling for work, earning up to £200 per night. This early experience proved lucrative, funding holidays and other expenses. The host notes that the platform has evolved significantly from a simple letting agency to a complex business involving concierge, cleaning, and laundry services, embedding itself into the lexicon with terms like 'superhost' and 'experiences'.
While many friends have since embraced Airbnb, renting out their own homes, spare rooms, or even beds, the widespread adoption has also brought increased problems. Stories of local discontent, government crackdowns, and property damage are common. One recent incident involved a flat being wrecked after being booked by the council for a homeless individual with six pets.
To succeed as a host, a laid-back attitude is beneficial. The host recommends having few valuable possessions, as guests, being on holiday, may not treat the space with the same care as their own. Over the years, experiences have ranged from a musician throwing a party in a rented flat, complete with models and champagne, to neighbors complaining about excessive noise from other guests. Screening guests by inquiring about their stay and carefully reviewing past feedback has become critical. One friend discovered a guest with a history of leaving bathrooms in a deplorable state, despite a polite initial message.
The host's current cottage in Somerset presents its own challenges. Guests accustomed to five-star hotel standards have complained about the rustic nature of the property, with one American guest expressing distress over spiders and woodlice. American guests, in particular, are sometimes disappointed by the reality of rural British settings, comparing them unfavorably to idealized depictions in films. They have also raised issues regarding the lack of air conditioning, muddy roads, and narrow, 'claustrophobic' lanes.
Beyond guest behavior, property maintenance poses risks, with potential for boiler breakdowns or leaks just before arrivals. One family even demanded a refund due to their dislike of the host's artwork, including a nude portrait and a politically charged kitchen plate.
Amidst Airbnb's expansion into hotel listings and increasing scrutiny, regulatory measures are being implemented globally. Lanzarote has seen protestors blocking key boxes, while Barcelona plans to ban short-term rentals by 2028. New York and Santa Monica require short-term lets to be licensed with hosts onsite. In London, a major market for Airbnb, authorities are trying to enforce a 90-day rental limit, though hosts can circumvent this with multiple listings. Last year, London councils investigated approximately 2,700 properties for alleged breaches. The UK's Department for Culture, Media and Sport is also developing a registration scheme for short-term lets.
For hosts, the financial returns are diminishing. Increased competition has driven down prices, with the host sometimes renting her four-bedroom cottage for as little as £100 per night. Compounding this, Airbnb has shifted its fee structure, charging hosts a 15.5% agency fee per booking. The host expresses doubt about the continued viability of hosting, questioning if it's worth the effort amidst the demands and decreasing profitability.