‘Since Lettsgetsmart took over, our income has improved and is back to pre-Covid levels or better. Ellie is a very good property manager.’ – Stephane Bellomo
‘Until life changed so dramatically for everyone in March 2020, our short let properties in Hammersmith and Fulham were producing monthly returns 30-100% better than long lets,’ recalls Ellie Romanova, London franchisee for specialist short let property management company, LettsGetSmart.
‘Of course, tourism and business travel then fell off the Covid cliff. But now travellers are coming back. Demand is increasing faster than supply – on average our portfolio has 90% occupancy – and short-lets are again yielding higher incomes than long-term rates.’
For a home-owner, there are clear advantages in short-term letting: the property is rented only when and for how long they want. The downside is that the process does require constant attention to booking, payment, cleaning and logistical issues.
That’s where Ellie, who has many years’ experience in the sector, and LettsGetSmart come in. ‘Most people don’t have the time or resources to do what we can,’ she explains. ‘I get to know every new owner we work with, as well as every detail of their home, and am always available as a point of contact. We take care of listing the property on platforms such as Airbnb, booking.com and VRBO and also contact our own, often repeat, guests.
‘Not only do we have the in-depth market knowledge to maximise returns by adjusting rates to fill any void periods and achieve excellent yields, we also handle all the time-intensive admin. That means looking after every element of the guest’s stay, cleaning and maintenance and ensuring the rent is distributed once or twice monthly to the landlord (payments are fully insured by Client Money Protect).
‘Personal service is at the heart of what we do,’ says Ellie. ‘If you are thinking of a flexible short-term let and want to achieve the best result for the least hassle, I’d be delighted to explain more about our proven business model.’