lettsgetsmart earns its income from charging fees for managing residential property currently listed on sharing economy platforms such as Airbnb. Already supporting landlords in areas of London, and now raising to expand here and elsewhere in the UK.
Why are we needed?
The ‘sharing economy’, driven by airbnb and others, has created the basis for a new service industry; it is enabling enhanced income for property owners but it involves management time and daily attention that is beyond the resources of some landlords. lettsgetsmart has been created to provide the services to enable them to do so.
What we do?
We manage the properties through online sharing economy platforms (airbnb, onefinestay). We take on all management: negotiating the letting, guest vetting, property handover, cleaning and security. This service meets a growing demand from owners of well located properties. We help unlock new sources of revenue for them and in return they pay us a fee.
Today more than 2,000,000 properties are offered nightly on airbnb ; 5 years ago it was just 55,000. airbnb and other platforms enable guests to by-pass traditional avenues of hotel room or holiday home rental by communicating direct with the landlord; opening up the possibility of being both guest and landlord. We feel that the results to-date have proven the concept and demonstrated the potential demand. This is why we now feel ready to take on more capital in order to grow the company significantly. We are currently operating in Central and West London and this funding provides a marketing budget to build a significant position in our focus areas and then to consider further geographic expansion.