Nestify expands into three additional UK cities
Airbnb management service Nestify has expanded into three major UK cities to encourage landlords to consider short or mid-term lets alongside traditional long-term tenancies to help boost their income.
The three cities are Bath, Edinburgh and Manchester, with the company first coming to market in 2018.
This comes as the brand plans its growth strategy in 2020.
Since conception, Nestify has bolstered landlord’s income by an average of 30%.
The business uses algorithms to offer pricing, automatically adjusting prices in real-time based on seasonality, competition and the number and quality of reviews.
Hedi Zidan, founder and chief executive at Nestify, said: “This year has been tough for landlords.
“Government tax reforms have pushed up prices and for many, buy-to-let is no longer the attractive investment it once was.
“But there are other options out there, and long term lets aren’t the only option available.
“We enable landlords to have a mix of short, mid or long term lets, giving them flexibility tailored to their circumstances, or even homeowners who want to generate income from their primary home while away or relocating.
“We’re excited to launch this campaign in cities across the UK. Our team has extensive, in-depth knowledge of the market and so far we’ve managed to boost landlord’s income by an average of 30% compared to traditional longer-term lettings.
“We’ve grown rapidly since we launched last year and are excited to continue this trend into 2020 and beyond.”
This comes as recent figures from UK Finance revealed buy-to-let purchases declines by 11% in the year to September.
Data from the Residential Landlords Association (RLA) also showed a third of private landlords are looking to sell at least one property next year, citing government tax reforms and increased costs as the main reasons.