Do you have an empty home during the day? Arthur takes a look at different ways to market your properties as office work spaces to short-term freelance workers and start-ups!
If you are looking for an income booster but do not fancy the idea of short term lettings to strangers, then why not hire out your property during the day?
This could suit you especially if you are a young professional looking to boost your income, or parents with additional space now that your children have moved out. There are plenty of new companies on the market connecting people who need extra work spaces with owners whose homes sit vacant for long periods or have got some spare rooms that they may wish to put to use.
With a growing number of freelancers looking for affordable, short-term workspaces there is a growing demand for these day rental versions of AirBnB. This is great news for owners as they can expect to earn between £50 and £250 per day. Although you property does not need to be a ‘trendy’ converted studio, bear in mind factors that will affect price such as location and size are important and the more attractive the design/space the more you can charge.
To accommodate bookings there are various online platforms you can use:
This online platform has more than 10,000 members. Users can expect to welcome a wide range of professionals, from writers to photographers, tutors and tech start-ups. Booking requests and money transfers are all managed via the website, plus members undergo identity checks and bookings are insured by the website’s complimentary policy.
Like Spacehop, the user receives requests from visitors, and confirm the bookings via their live chat system. Payments are made securely online and money is received 24 hours after check-in. Guests can be expected to book rooms for meetings, office spaces, magazines and commercial shoots.
Vrumi is particularly favoured by entrepreneurs and freelancers looking for “creative, private, functional and cost-effective” spaces. Hosts advertise spaces for different purposes such as sitting rooms for physiotherapy, a kitchen table for a brainstorming session, or an entire property for a company off-site.
If this sounds like something you’d be interested in, there are some things you need to consider. For example, before renting out your home as an office, you need to speak to both your mortgage lender and home insurer to let them know that the use of the building has changed. Also, while some rental websites may offer a guarantee to cover damages and third-party claims, you should not assume that such agreements offer the same cover as a proper insurance policy!
Keep a look out for Arthur’s blogs for all the latest property news!!