Mihaela from Sugar's Property helping landlords to boost their rental income using Airbnb

by Mihaela Sugar

Jul 11 2023

The buy-to-let sector has consistently taken hits in recent years with increased mortgage rates, tighter acceptance criteria, tax rises, and potentially significant EPC changes. 

Mihaela Sugar, the CEO and Founder of Sugar's Property LTD explains how her Airbnb Management Company is helping landlords maximise their profits.

What services do you offer your clients? 

Airbnb Management agencies like ours play a crucial role in London's vibrant and dynamic rental market. With its bustling tourism industry and high demand for temporary accommodations, short-term lets provide valuable services for property owners and visitors alike.

We offer comprehensive services to property owners who want to rent out their properties on a short-term basis. Managing every step of the rental process, including advertising the home, scheduling reservations, screening visitors, coordinating check-ins and check-outs, and taking care of any maintenance or guest service issues that could arise while the guests stay. By utilizing our expertise and established networks, Airbnb Managers like ours maximise the property owner's rental income and ensure a seamless and hassle-free experience.

Services we offer:

1. Cleaning: Sugar's Property employs professional housekeepers who deliver 5-star cleaning services. They have partnered with Airbnb cleaning service providers, who have been tried and proven over time. The cleaners pay careful attention to detail and ensure no cleaning task is overlooked. They even send images back to headquarters to ensure quality control.
2. Maintenance: The housekeeping staff takes pictures and documents any maintenance needs between each guest stay. Minor issues such as a broken lamp or malfunctioning washing machine are addressed promptly to ensure the property is in optimal condition for the next guest.
3. Deposit: Sugar's Property requires a security deposit from all guests for each booking. It protects against potential risks and holds guests accountable for any damages.
4. Reports and Dashboard: To give property owners greater control and the ability to monitor bookings, Sugar's Property offers a Dashboard that syncs the calendar across multiple booking websites. Property owners can keep a close watch on productivity and earnings.
5. Guest Vetting: The safety and security of the property and property owner are a top priority for Sugar's Property. All guests undergo a background check to ensure peace of mind.
6. Check-in and Smart Locks: Guests highly value self-service check-in. Sugar's Property assists with installing intelligent locks and provides software that enables more accessible and more secure check-ins for guests.
7. Linen and Toiletries: Sugar's Property provides hotel-quality bedding and sanitizing service. The housekeepers pay attention to the finishing touches to create a memorable guest stay.
8. Guest Communication: Prompt and effective communication with guests is crucial for increasing reservations and maintaining a good reputation. Sugar's Property has employees available throughout the year who are trained to handle any queries or difficulties guests may have before and during their stay.
9. Listing Creation & Optimization: Sugar's Property will handle the setup and creation of your property listings on multiple platforms. With their expertise and knowledge, they know how to optimize your listings to attract more bookings and target the right guests for your property.
10. Profit Growth: Sugar's Property is dedicated to helping you increase your property's revenue. They employ efficient pricing strategies based on data analysis and market trends to ensure your property is priced competitively and takes advantage of high-demand periods. Their Airbnb management agents combine data-driven insights with creative ideas to develop effective pricing strategies that maximize your profit.

What at the financial differences between a standard buy-to-let and an Airbnb?

 There are a few financial differences:

1. The major one is having the possibility to generate double the amount of cash flow with Airbnb Management.
2. Legislative Benefits: Sugar’s Property is well-versed in the changing legislative landscape for landlords. We help landlords with the new Energy Performance Certificate (EPC) standards cost-effectively by saving around £8,000 and navigate regulations such as Section 21 and Section 24, helping them avoid potential eviction processes and save on taxes by writing off the mortgage.
3. Tax Benefits: Sugar’s Property offers tax-related benefits to landlords. They help landlords claim various tax reliefs, such as Capital Gains Tax reliefs and Capital Allowances for equipment and furniture. Additionally, they guide pension contributions and business rates, optimizing tax savings.

Are more landlords switching from standard buy-to-let to Airbnb?

Yes,  ARLA Propertymark, says that over 230,000 UK landlords are ‘likely’ to switch to short-term lets. Landlords have had a difficult couple of years with the pandemic threatening profits and reforms from stamp duty to tax relief.

Reasons they want to switch:

• 50% of landlords prefer the flexibility of short-term lets offer.
• 4 in 10 landlords fear increasing regulations in the renting sector.
• 25% of them said short-term lettings offered greater profits.
• More people are having difficulty with mortgage and loan repayments

From our personal experience, since March 2023 we have doubled the enquiries about our services! 

How many properties does your typical customer have?

Our landlords typically have three properties! The range of people we work with goes from landlords with one property to investors with six+ properties.

How do you find tenants?

Sugar’s Property promotes your property on multiple platforms to reach a broad audience. We synchronize your calendar across all platforms to ensure consistent availability and bookings. We also focus on attracting business travellers to help maintain year-round occupancy through the collaboration of Job Agencies and different types of contractor companies.

Does it matter where the property is?

A property location can play a big role in whether guests decide to make a reservation or not, and even the nightly rate can change based on the location. We can let you know if your property is suitable for Airbnb. 

Do you manage holiday lets? 

Yes, we do!

In reality, the proper terminology for Airbnb is Serviced Accommodation, more commonly referred to as furnished holiday lets by the legislators.

How can landlords contact Sugar's Property? 

Visits www.sugarsproperty.co.uk/  for more information or call 020 3633 4594.

The information contained within was correct at the time of publication but is subject to change.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage  

Most Buy-to-Let Mortgages are not regulated by the Financial Conduct Authority.