Short-let firm eyeing Tayside move

A growing property management group is scouting for office premises in Dundee.

Pass The Keys arranges short-term lets of properties through major online booking platforms such as Airbnb, Booking.com and HomeAway.

Its services span everything from booking management to laundry services and the aim is to significantly increase rental yields for the homeowner in comparison to traditional long-term letting arrangements.

The firm was founded by university friends Zoe Vu and Alex Lyakhotskiy in 2015 and has doubled in size in the past year.

It recently established offices in Edinburgh and Glasgow and is now eyeing a move into Dundee in anticipation of the V&A effect kicking in later this year.

“Landlords with properties in soughtafter city centre locations can earn 50-100% more when renting on a shortterm basis to holidaymakers and city visitors, than when renting to longterm tenants, with significantly higher occupancy rates during high season, including the summer holidays,” Mr Lyakhotskiy said.

“While the rise of services such as Airbnb have given people access to a potential new income through letting to tourists and business visitors, they also raise additional work for the homeowner.”

The firm has an algorithm-controlled system which adjusts pricing according to demand.

Pass The Keys founders Zoe Vu and Alex Lyakhotskiy.