Losing Cash From Unused Property this Christmas?

Will you be a loser or a winner this Christmas? To be frank, there is no excuse with a predicted 70% spike in occupancy rates for short-lets this Christmas! Your unused property simply needs to be in the hands of an experienced and professional short-let management team. Otherwise, you’ll be losing lots of cash this Christmas.

The carol proclamation of the season to be jolly; yes family, friends and more food than you ate in November & October combined. That time of the year is on the horizon again, or in your face in the shopping precincts. This season’s greetings can be an unwelcome business dead zone for non-retail related markets. This is particularly true for the estate agency market.

Statistically speaking the volume of residential transactions, in the UK, drop by around 20% through the months December-January. This holds true for recent history, apart from December 2009. This was post banking crash when the government tried to put some heat back into the market by offering buyers a Stamp Duty Holiday, they raised the threshold to £175,000. This came to an end on NYE 2009, hence a spike in sales.* But, without government intervention December is not happy time in the sales market. 

So, actual viewings are likely to be sparse as people are focusing on Christmas celebrations and everything that that entails. However, the promise of the traditional market bounce comes whilst buyers are tucking into their left-over turkey/nut roast. The surge in online property viewing are nothing short of meteoric. 

The chances of your property moving in December are not great. But whilst the sales market feels the winter chill, the opposite is true in the short-term rentals market. At this time demand hits a peak. People from across the globe are coming to spend time with their loved ones and a short-term let it is a favoured option. It’s ‘Christmas’ in more ways than one for properties on the short-term rental market.

So, should a property be unused and on sale this Christmas the best gift the seller can receive is the income from the huge demand from guests clamouring for accommodation. There are less viewings, so less need to worry about the property not being pristine. Beside a lived in look can be attractive if the guests match the profile of prospective buyers.

Next year I’m going to turn this idea into a John Lewis style ad where Santa Claus brings a bedraggled family into a lovely home and bag of cash drops down the property owner’s chimney. With the music bed of Christmas time by the Darkness :-)

If you’re an agent or owner with unused lonely properties and would like to be a winner this Christmas drop me a line mike@agencybnb.com so you can catch the Christmas rush.

* Source: HMRC National Statistics