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Airbnb hosting service provider YourWelcome bags £400k Funding ,targeting student market

Funding will support London-based proptech firm as it branches out into Paris and targets the student market

Airbnb hosting service provider YourWelcome secures £400,000

YourWelcome, a UK property technology(proptech) company, has closed £400,000 in funding from proptech accelerator programme Pi Labs and Angel SyndicaStarted in 2015 by Henry Bennett and Paul Loram, London-based YourWelcome is a subscription service which enables Airbnb hosts to share in the revenue of up-selling local on-demand services.

Tablets are left for guests along with house keys allowing them direct access to specially chosen taxis, takeaways or discounted shows; the start-up then takes a percentage of revenue made from every booking.

Demo Day 2015 - YourWelcome

The finance will support YourWelcome – which also claims to have deals in place with serviced apartment company Skyline and Easy Rental Services – as it expands into Paris and targets the student and wider property market.

The news demonstrates growing demand for Airbnb-related services; just last week Startups profiled Hostmaker – a start-up which provides cleaning services for Airbnb hosts to get their homes “guest-ready”.

Bennett commented: “As occasional Airbnb hosts ourselves, we knew there had to be a way to simplify the way hosts communicate with guests, especially if they are unable to greet them in person.

“We also thought there should be a way for the hosts to monetise their guests through offering high quality on-demand services.”

Mary Criebardis Singh, Pi Labs programme director, said: “What is really unique about YourWelcome’s platform is that they give service providers access to the short term lettings market and the sharing economy.

“The company achieved incredible traction during the accelerator programme both in terms of customer growth and further investment.”

London landlords '£100 a week better off' renting property on Airbnb

London’s army of buy-to-let landlords could be more than £100 a week better off per property if they went down the internet phenomenon Airbnb route, new research has suggested.

The average weekly price for London properties listed on Airbnb is £450, while the average weekly rental price for tenants in the capital is £335, said residential specialist JLL.

Founded in 2008, San Francisco-based Airbnb has soared in popularity as homeowners welcome the way they can supplement their income by renting out rooms and properties for short stays to travellers.

London has the third-highest number of listings in the world — 25,357 homes at the end of 2015 — JLL said, behind Paris and New York. 

The figure in the capital at the end of 2009 was just 171.

Explained: What is airbnb and why is it controversial?
Nick Whitten, associate director in JLL’s research team, said private rental landlords could earn more using the service.

But Whitten warned: “If a property is used for more than 90 days a year for short-term rentals, it could be considered for a change of use from a residential property to a hotel.

“This means Airbnb is more likely to be attractive for minimising void periods.”

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