After speaking with friends over dinner, Craig was told that he could rent his property whilst he was away. Even better still, he could use a professional Airbnb management company and use the income to pay off his card debt.
The apartment
- Location: Haymarket, Edinburgh
- Start of management: May 2019
- Surface area: 1416 sq. ft
- Type: 2 bedroom flat
The concern: how to increase profitability thanks to Airbnb management
Craig will be working in Germany for 3 months over summer, and also during one of Edinburgh’s most notable festivals. He contacted Nestify to rent his very stylish two bedroom apartment to see what rental returns he could generate. He wanted to ensure his outgoings were covered, as well as having a bit extra to pay off debt. Not having any experience in hosting before, he needed assistance.
The implementation of a tailor-made strategy
The major objectives Craig wanted to achieve were:
- Cover mortgage and utility bills: approximately £950 per month
- Repay monthly debts: approximately £396 per month
- Create increased yields specifically during the 3 week Fringe festival
- Ensure that he can track the bookings at his property remotely
Nestify got to work quickly to list his property, which gave him time to generate bookings in advance. The team had 3 months to bring him maximum profitability. They ensured that his home was staged correctly, and professionally photographed to be as attractive as possible.
From Germany he was able to track how successful his property was using Nestify’s ‘host dashboard’ from his phone. He quickly relaxed knowing that the team of pricing analysts were monitoring his average daily rate. With their expertise his three months played out like this:
Airbnb management: A successful three months
| Month | Occupancy Rate | Net Income | Outgoings | Extra money towards debt |
| June | 81% | £1,832 | £1346 | £486 |
| July | 85% | £2,195 | £1346 | £849 |
| August | 97% | £2,624 | £1346 | £1,278 |
With Nestify’s help, Craig was able to generate an extra £2,613 towards his remaining £3,000 debt. Nestify’s property management allowed him to almost completely wipe his card debt in just 3 months.
Minimum hassle, maximum return
Mission accomplished for Craig, who has since returned to Nestify the following year during the same period. He realised how effective it was to have all of his outgoings covered, as well as create maximum yield. In the following year he returned, except this time, to help him fund the car he always wanted.