Are traditional buy-to-let and Airbnb the only business scenarios for making money from a property? Arthur explores some creative ways to turn your homes into real cash-cows!
Property owners sometimes underestimate the potential that lies within their property location, style and architecture. Apparently nearly 60% of sets we see on TV in the UK are not films in some random studios in the middle of nowhere, but in regular homes!
A growing number of homeowners are renting their properties to film crews and photographers for magazine shoots, adverts, TV shows and the latest blockbusters. People can expect to earn between £500 to £2500 daily depending on the type of shoot! Not bad at all.
For example, a property owner named Amy Griffiths has been hiring out her property to film, TV and editorial crews for 15 years. Her 1930’s house in South London has a contemporary style throughout and has been used by brands including M&S, Ikea and Livingtec.
If you own larger properties in your portfolio that are currently vacant and are looking to make some easy cash out of them, you may be the lucky candidate for a similar deal: TV and film shoots generally involve larger crews, therefore more footfall and upheaval and thus command higher rental.
On the downside, depending on the type of shoot, walls may be painted, partitions erected, rooms changed around, gardens taken over by catering tents and furniture moved in and out of the property. However, once the shoot is over the crew are required to put everything back as it was originally.
Not every home has the potential to accommodate shoot locations. Usually larger, modern properties are preferred by film crews who need to be able to store their equipment and usually look for a good indoor/outdoor feel and lots of surrounding greenery.
However smaller properties can still be suitable for editorial shoots. If you own smaller properties in cool and trendy areas, location agencies in London are a good starting point to reach editorial crews and photographers looking for ideal locations and typically take between 10 and 25% commission.