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TODAY'S OTHER NEWS

'A flat white and a flat please' - short lets firm uses coffee shops as branches

The London-focussed lettings agency Portico is expanding its short-lets service Portico Host into Manchester and Liverpool - but it isn’t spending money on dedicated branches.

Instead the agency is linking with coffee shops to bring short term letting services to landlords and property management to Airbnb hosts in what it calls “a more relaxed setting.” 

In Manchester, the agency has partnered with a coffee shop called Pot Kettle Black; no specific coffee shop has yet been identified for Liverpool. 

Although the Portico Host division is independent, last year Portico became one of four letting agencies in the UK to be appointed to the professional co-host programme run by Airbnb: the agency says that this means “Airbnb will share with Portico best practices, provide additional support and enable further technological integration.”

In a statement, Portico says it “intends to open in places where there is an active property market and clear opportunities for further growth. The company is also looking at other potential openings in the north of England.”

New Business Director Fiona Patterson adds:“It’s no secret that the lettings industry is evolving, and at Portico, we intend to change with it. After the success of Portico Host in London and our appointment to the Airbnb professional co-host programme, it seemed only natural to bring our award-winning service to the best place for landlords to invest in the UK. Liverpool and Manchester share a vibrant Airbnb and letting market, enabling Portico landlords to achieve better yields for their properties.“

This new venture will be led by Rachel Dickman, who joins from YOPA and Countrywide. She says: “Airbnb short term rentals generated over £37m in revenue in 2018 alone, according to Airbnb’s most recent insight report, and boosted the overall UK economy by £3.5 billion.”

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