Over the last 6 months, I’ve received lots of calls from investors asking for my advice on holiday rental properties or short term lets through websites such as AirBNB. This can be a great way of increasing your yield on a investment property and I’ve known a few investors who have done very well. Not only can you achieve a higher rental income over a shorter period but the tax implications are more beneficial than a standard buy to let investment meaning you can still offset all of your mortgage interest payments against your income. Obviously, it’s a lot more time consuming as you have a higher turnaround of visitors to your property but it can still work very well in Liverpool due to the many visitors coming to Liverpool.
The main factor to why people contact me is because it is very hard to find city centre developments that will allow properties to be let out in this way as most leases forbid any short term lets as it has been know that people can rent properties to host parties causing issues for other residents.
The property that I have spotted is a one bedroom property located off Berry Street that could be potentially used as AirBNB (I would advise that you check through the lease to confirm that holiday rentals are permitted before purchasing) for only £79,950. This property could be marketed as a two bedroom property (sofa bed in the lounge) and could achieve between £65 – £150 per day. Weekend prices increase due to the high demand in Liverpool. Click here to view the property that is available through Entwistle Green.
I do know people who can manage your AirBNB rental property on your behalf and they can vet the potential visitors to mitigate any potential issues that could possibly happen. If you would like me to put you in touch with them, then contact me on firstname.lastname@example.org