Tag Archives: business accommodation

Spanish mid-term rental market will generate 166 million euros for owners in 2021

Spanish mid-term rental market will generate 166 million euros for owners in 2021

Homelike, the accommodation rental platform for business travellers and digital nomads, has estimated that, this year, the rental of mid to long-term  accommodation in Spain will generate 166 million euros.   Stats reveal:

  • Brits with properties in Spain, can earn valuable income from longer term rentals
  • Accommodation for business travellers and digital nomads is recovering faster than tourist rental
  • Homelike recommends owners to opt for mid-term rental since reservations in this type of accommodation have grown by 20% in 2021
  • The market for mid-term rental housing is now three times larger than in 2019

Homelike’s data shows that mid-term rental reservations in Spain grew by 340% in 2021 compared to 321% in 2019. 

Samuel Toribio, Country Manager Spain, said of the trend “Reservations in Spain for this type of accommodation have grown by 20% in 2021 to date, which shows how quickly the mid-term rental market is recovering compared to other alternatives such as tourist rental, which has not yet taken off”. 

This trend confirms that in the tricky world of real estate, mid-term  rentals are a safer option for owners than shorter, more traditional tourist/leisure rentals, both economically and in terms of reservations. The growth in digital nomads working remotely from cities around the globe has driven a high demand for this type of accommodation”, explains Toribio. 

Spain has been one of Homelike’s biggest success stories with regards to growth in bookings, remaining a favourite destination for Brits who want to escape the colder British climate without the need for travelling to far flung destinations. 

Homelike has long promoted the fact that the mid-term rental market is an incredibly viable option for anyone seeking to rent out overseas properties. Homelike has a strong presence in Spain, with 12,500 properties on its platform in the country. There is, however, always room for more properties and this huge growth in income for landlords shows that there is certainly the demand to meet supply, making property ownership in Spain a very viable and profitable business model. 

There is a greater sense of confidence and security for owners in this sector generated by the fact that mid-term rental generally attracts a more careful client and with fewer change overs between bookings. 

Finally, the company states that the average rental price of a mid-term home in Spain is 1,655 euros per month. An amount that increases in Madrid and Barcelona, ​​where 1,690 euros and 1,719 euros are paid, on average, respectively. And, it falls in Valencia, up to 1,200 euros per month.  These are healthy ROIs for any landlords seeking to rent out accommodation in Spain.

Sources:

Homelike calculated the 166 million euros by multiplying the average monthly rental price of a temporary home, by the number of homes that exist on its platform. 

For more information visit: www.thehomelike.com 

 

Homelike bolsters property acquisition team as mid-term rental given Covid boost

Europe’s leading mid-term rental platform expands team with two new appointments

Homelike, Europe’s leading online platform for mid- to long-stay accommodation, has expanded its team in response to the boost in mid-term rentals as home moves continue to dominate the property market and travellers seek longer rents. 

The company, which launched in 2015, has experienced steady growth throughout the pandemic and currently has one of the largest collections of world-class furnished apartments for business and leisure travellers, as well as those simply taking a flexible approach to renting.

Homelike has invested in its property acquisition team to enable more property owners to access the mid-term rental market, bookings of more than one-month, with two new recruits as the business continues to grow and expand. In the past 12 months the business has increased its European portfolio by over 25,000 properties.

Louis Mann has joined Homelike as a senior key account manager for the UK and Ireland to develop and strengthen high-value property management partnerships. He brings a strong background in business development, marketing and sales to the mid-term rental platform.  Having worked across both B2B and B2C environments at companies including VRBO (Expedia Group), UnderTheDoormat and Homes4Media, Louis has established himself within the property and travel sectors in which Homelike operates. As a bilingual speaker, Louis is a valuable addition to the team in a business which operates in multiple countries, throughout Europe and beyond.

Commenting on his appointment, Louis said: “I thrive in busy start-up businesses and Homelike is just that, while still relatively young it is fast growing in a part of the property rental market that has massive growth opportunity.  I’m excited to be part of a young and dynamic global team that will open up the mid-term rental sector while offering a wider variety of choices for people looking for longer-stay rental accommodation.”

Also joining the team is Freya Pound as Sales Manager Supply, UK. She is responsible for the entire acquisition and onboarding process for all new key suppliers in the UK market, crunching data to identify  ‘in demand’ cities primed for market development.

Freya joins Homelike from SilverDoor where she had been responsible for sourcing accommodation for the businesses wide-ranging clients. Freya brings with her over a decade of  experience in client-facing roles having worked with glh hotels and Citybase Apartments.

Freya said of her role: “Working for Homelike is an exciting new opportunity in my career.  The business is growing rapidly and I look forward to being a part of that and working alongside an ambitious and creative team.  It’ll be great to utilise my sales skills to secure more properties to increase the portfolio of options for our customers.”

Homelike is going through a strong period of growth with the business expecting to see a supply base in excess of 85,000 properties across Europe by the end of 2021.  All Homelike apartments and landlords are tested and vetted to ensure they meet the highest standards of quality and functionality.  All properties offer WiFi, along with other amenities such as a desk space, kitchen or kitchenette and washing machine or laundry services.  Users of Homelike can save on average 40%, compared to local hotel rates.

For more information visit: www.thehomelike.com 

Manchester and Edinburgh steal share of longer-term rentals from London

HomeLike, Europe’s leading online platform for mid- to long-stay accommodation, has reported a boom in bookings for Manchester and Edinburgh as the cities show strong competition against leading business travel destination, London.

Historically the majority of Homelike’s customers have sought accommodation in the capital with London usually enjoying 80% of all bookings taking through the platform.  However, in the past 12 months this has dropped considerably to just 65%, with Manchester and Edinburgh picking up the slack, closely followed by Cambridge, Liverpool and Nottingham.

HomeLike’s typical client in the UK is very equally split between business travellers (39%) and those seeking to relocate (35%).  Country Manager for UK and Ireland, Cherry Wang commented: “The growth in the market of the UK’s second cities is not really a surprise.  For many years now, big businesses have been relocating to smaller cities, as they offer cheaper rents for offices etc.  Naturally the need for accommodation for staff will follow – whether that be mid week stays for them away from home, or a more long-term solution as employees seek temporary accommodation while hunting for a permanent base.  Our range of properties offers the ideal solution for either problem.  We have properties that are bijou and compact for solo tenants through to huge houses with gardens and outdoor space that might be better suited to families.”

In addition to the change in locations, HomeLike’s trends also point towards greater planning when it comes to properties that offer instant bookings.  The average booking window has jumped from just 28 days in 2020 to 40 days in advance in 2021, a rise of 44%.

Flexible cancellation policies have also become particularly desirable in a post Covid era, now accounting for almost 60% of all bookings, compared to just 35%  pre-2020.

For more information visit: www.thehomelike.com 

Homelike offers the ideal solution to Business and mid to long-stay leisure travel accommodation needs

As the UK begins to return to normality and travel becomes a priority once more, one provider is ahead of the curve thanks to its extensive collection of Covid secure properties.  Homelike is Europe’s leading online platform for mid to long-stay accommodation for business travellers and those requiring temporary accommodation for 30 days or more. 

 

Primarily launched as a provider to the business sector, the fully furnished apartments are ideal for all travellers seeking a safe haven. In 2020, nearly 70% of bookings were either for a work relocation or a work project, which would normally last 3-4 months. 25% of bookings were for temporary accommodation needs, such as the need to self-isolate, house renovations or in between house moves. In the UK, 50% of bookings were domestic in 2020 with the remaining 50% coming from abroad. 

 

The company is also ready to respond to an expected increase in demand for longer-term rentals for those wanting to visit family again after extended periods of absence. The average length of stay increased 10% during 2020. While from a business perspective, the increase in digital nomads, capable of working and living anywhere and the need for UK companies to have an EU office following Brexit, is also likely to spur additional bookings.

 

By booking with Homelike, travellers are saving on average 40% or more compared to booking a traditional hotel. The average monthly rent in London for example in 2020 was £2,700.  With over 65,000 properties available in Europe, there is something for everyone including gyms, private outdoor spaces such as balconies or gardens, and even pet friendly apartments for new lockdown puppy parents. All apartments are vetted for 10 quality standards, including access to a workspace, fully furnished apartment, fast WiFi and access to a washing machine or service in the building.  

 

Amongst the key benefits of booking with Homelike are:

  • Wide range of fully furnished accommodation – 65,000+
  • 450+ cities across nine European countries
  • Guaranteed Covid security, thanks to the company’s enhanced hygiene programme
  • Studio and 1,2 and 3 bedroom accommodation lets
  • Home from home – relax in a private apartment with the option to dine out or cook ‘at home’.
  • Share with colleagues if preferred, choosing larger apartments, each with en-suite bedrooms
  • Suitable for families  
  • Many located in city centre locations, close to businesses, bars, restaurants and attractions

 

Booking with Homelike is simple and speedy, with online viewings available and dedicated booking managers to handle bookings.  Larger businesses may also benefit from a company account with a dedicated account manager to oversee multiple bookings in multiple locations.

 

Amongst the options available are:

 

  • Stay in a stunning two bedroom flat in Edinburgh.  The spacious property can sleep four people and and plenty of living space including a kitchen, living room and separate dining room, ideal for working while everyone else relaxes in the lounge. Rental costs from £3,040 per month.
  • In London, the perfect choice for a city workspace is a studio flat in Bermondsey. The apartment offers excellent amenities and space with a smart TV, speedy wifi and designer kitchen all part of the package. Meanwhile, for those who want to enjoy additional benefits (once restrictions allow), the complex comes with a shared workspace area, coffee shop, restaurant and workout studio.  Monthly rent is £3,865. 
  • In the centre of Manchester, a zoned, open plan studio apartment provides a safe haven for city workers complete with kitchen area, office zone and sleeping zone, this compact apartment costs from just £1,524 per month.