Marcus Di Rollo: The short-term letting industry is lucrative in Edinburgh, but should Airbnb be the only option for would-be renters?

Marcus Di Rollo is lettings director at Coulters
Marcus Di Rollo is lettings director at Coulters
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Airbnb has been described as a phenomenon, transforming the short-term letting industry across the world. There’s no doubt it’s a financial success, with the company estimated to be worth more than $30 billion, but what the online platform will never achieve, is the service, peace of mind and support offered by a professional lettings agent.

Thanks to its reputation as a festival city, Edinburgh enjoys a huge influx of tourists all year round, from those who flock to the Fringe in the summer, to those seeking the experience of an authentic Hogmanay experience at the city’s famous street party. This means Edinburgh’s short-term letting industry is big business.

Home Sweet Home

Home Sweet Home

One or two-bedroom flats close to the Royal Mile can see rental surges of up to three times during lucrative periods like August. At Coulters, we specialise in providing a full range of property management and landlord services. We build strong long-lasting relationships with our landlords and are on hand day or night to meet guests and to help when anything goes wrong – something Airbnb certainly can’t boast about.

From the deposit and check-in process to the cleaning, inventory checks and check-out, lettings agents take the lead and responsibility, removing unnecessary hassle for the owner.

As with the online homestay network, we have seen a rise in the number of people opting to offer their homes to travellers for short-term rental and this now makes up 25 per cent of our business.

In addition to matching HMO landlords to tenants who can plug the two-month gap left when students depart the city for the summer, we have seen demand for high-end apartments that rival 5-star hotel suites, increase significantly since 2012.

Visitors appear to be seeking the luxury of a hotel stay, but with the added bonus of private facilities and a more affordable price tag.

nd with the support of an experienced letting agent, renting your home on a short-term basis can be a positive experience for all parties.

Marcus Di Rollo is director of lettings at Coulters