A company called My Property Host is seeking to attract failed sellers to become ‘accidental landlords’ and let out their homes via Airbnb.
The company describes itself as a ‘property management service’ and claims to “offer a lifeline” to vendors whose homes are stuck on the market. It offers many of the services associated with a letting agency but it claims it is not one - so does not have the need to abide with mainstream requirements like registering with a redress scheme.
My Property Host says it will create advertisements, take bookings, greet guests and “clean up afterwards.” The service also includes insurance, and follows a series of high profile incidents where owners using Airbnb and similar short let platforms found their properties damaged, in some cases requiring thousands of pounds’ worth of repair work.
“Letting out your property through Airbnb is a quick and efficient way to make some short-term income. But most conventional home insurance policies won’t cover the property while it’s being let out – even if it’s just for one night. Airbnb’s one Achilles heel is that it offers no proper insurance cover as part of its letting agreement, making insurance a worrying blindspot for hosts” claims My Property Host managing director Elena Lopez.
“With the property market still unsettled following the Brexit referendum, homes are taking longer to sell and many would-be sellers are holding off on putting their property on the market until things calm down. Our service offers owners an easy and seamless way to earn an income from their property without committing to a long-term tenancy” she claims.
The fee for owners is high - My Property Host charges a flat rate of 19 per cent, including insurance.
It says it employs a team of “hospitality sector professionals who take care of reservations, guest relations and the cleaning of the property.”