Waiting to Sell Your Home? How Short Letting Can Help.

House prices in the capital this year have fallen at their fastest rate since 2009, when the financial crisis started to bite*. With month-on-month house price drops, coupled with the nervousness from buyers in the lead up to next year’s Brexit, it is little wonder that London homes are taking longer to sell.

Not reassuring news if you’re an owner of property in London and you’re looking to sell up. UnderTheDoormat, London’s premium short-letting specialist, is seeing an increase in enquiries from homeowners (especially of investment properties or second homes) who are in this situation. Since these houses and flats are sitting empty for longer than planned, awaiting that right sale, they can soon become a drain on finances when there’s a mortgage or high monthly service charges to cover. Not good.

Earn Income Whilst Waiting to Sell

UnderTheDoormat’s flexible service allows you to sell your home and income until it does. First, let’s take note of how smart the operation is. As a company, when we engage with an interested homeowner, we can turn their home around quickly. From the initial proposal of how much we can offer the homeowner for each night booked, through to the photoshoot and marketing, we can get the property live on the global accommodation platforms (such as Expedia, Bridgestreet, Homeaway and Booking.com) in just a few days. Since we handle the bookings, the cleaning, the personal check-ins, and provision of linen, the homeowner has very little to do. We take care of everything and our direct and comprehensive insurance policy means that, in the rare event something didn’t go as planned, we’ll make sure it’s put right.

Second, let’s look at the buying season: property buyers are most active in the autumn and spring months. Estate agents dread Christmas and summer holidays as enquiries and viewings dry up. Buyers go very quiet. Thankfully, these times are precisely when short-lets are at their most busy. UnderTheDoormat sees a huge increase in bookings from international guests who flock to London over the festive period and school holidays. They seek good quality and characterful accommodation in the capital.

Next, money! Homeowners with UnderTheDoormat receive income for guests stays within 10 days after check-out. The income agreed is also exactly what goes into your bank account, so homeowners need not worry about any extra costs or fees. This keeps things nice and simple. Again, the quick turnaround time ensures that while the homeowner is waiting for a purchase offer, there will be a steady stream of income for them to enjoy from short-term rentals.

Can I Rent Out My Home if I’m Trying to Sell?

In a word: yes! If you’re in the throes of selling your home in London, and it’s unoccupied for much of the time, UnderTheDoormat will open up the booking calendar for a few months at a time (on a rolling monthly basis) so once your sale goes through you have the flexibility you need.

An initial concern from homeowners who are looking to sell is: ‘how will viewings take place if there are guests staying?’ A valid question. We understand that the home needs to look at its best – especially in a quiet market. Provided that we receive 24 hours’ notice, we can arrange an interim clean for you before the viewing takes place so your home looks impeccable. Guests will also be notified on check-in that viewings may occur during their stay.

So, what are you waiting for? Rather than let your London home sit empty and unused – and cost you money while you’re awaiting the right buyer – speak to UnderTheDoormat to see whether your home meets their criteria. This could be a great way for you to have the flexible income you need while you sell your home.

Contact UnderTheDoormat to find out more: +44 (0)207 952 1653 – myhome@underthedoormat.com

*https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/housepriceindex/june2018