Glasgow property venture has capital’s Airbnb users targeted

By A property management venture aimed at the short-term let and Airbnb market has Edinburgh in its sights after launching in Glasgow at the start of last year.

Spothost, which describes itself as a “sharing economy” property management company, offers room-by-room management for spare rooms in an owner-occupied home, in addition to its full range of property services.

The venture, which scooped the New Business of the Year Award at the 12th Scottish Asian Business Awards 2017, handles aspects such as cleaning, guest communications and offers a 24/7 meet-andgreet service for clients.

It also offers home owners the ability to list their properties across a wide range of platforms, including Airbnb, Booking.com, Tripadvisor Rentals and Holiday Lettings, as well as Spothost’s own accommodation booking platform – Spotapartments.

The company’s founder, Akash Sharda, said: “We are very excited to bring the Spothost service to property owners in Edinburgh.

“Since our launch in 2017, we have checked in more than 2,800 guests, and generated more than £250,000 of client income for our Glasgow property owners. And it is our rapid growth and success in Glasgow that means we can expand the business quickly.

“As members of the UK Short Term Accommodation Association (UKSTAA) we ensure that all property lets adhere to regulatory requirements for the industry, as well as the industry code of conduct.”

Earlier this month, rival firm Pass The Keys announced its launch north of the Border. That venture is the creation of two university friends, Zoe Vu and Alex Lyakhotskiy, who started their careers in banking and consulting in London.

In December, the firm, which was founded in 2015, became a professional Airbnb co-host. It also manages the listings on other short-let platforms such as Booking.com and Homeaway.

The business said it was now targeting homeowners in Edinburgh and Glasgow where lucrative rentals can be generated during major events, particularly the capital’s International Festival and Fringe.

Average monthly earnings from renting an entire property in the city centre of Edinburgh are about £2,200, and almost £1,100 in Glasgow, according to Pass The Keys.

The UK’S sharing economy has grown the fastest in Europe, with transactions almost doubling to £7.4 billion. The peer-to-peer accommodation sector accounts for more than a third of that.