Rentals in Bristol set the stage for a unique experience for the visitors owing to the unique fusion of natural and urban life and amalgamation of ancient and contemporary structure. A visitor lives a life in the past as well as in present thanks to the vibrant and eclectic neighbourhood of this distinct place.
Ranked as the third most expensive city in the United Kingdom, the renters are spending almost one-third of their income on the rents. The rental market in Bristol is creating challenges for the renters on one side. On the other hand, the same market is opening up new horizons for the property owners.
The presence of prestigious universities and world-leading businesses in technology, electronics, healthcare and media lure different types of visitors who want to live at an accessible location from where they can commute or travel easily.
If you’re also induced to invest in these higher-than-average rental properties, this blog is just for you. In this blog, we will provide you with a detailed discussion on the perfect properties for short-term rentals in Bristol. So, let’s dive in!
Table of Contents
Bristol as a Rental Market
Thanks to its remarkable tourist destinations, the Bristol economy is flourishing, enticing savvy homeowners to seize the opportunity and invest in multiple properties. Waterfront studio apartments, Georgian and Victorian-style houses, new townhouses and larger and traditional flats are some of the property types offered by the landlords.
The higher rental prices attract many landlords to rent their spare rooms for short-term rentals in Bristol. This is why the number of listings is increasing with every passing year.
According to Home.co.uk, there’re 801 homes for rent available, 285 new homes have been added in the last fourteen days only. The average rent is £1,837 per month. Similarly, you can find a lot of other properties and dynamics are changing drastically in the housing and rental market due to the widening gap between the demand and supply of the rentals in Bristol.
The short-term rental market is also growing at the same pace because of the flourishing and alluring student and job market. The presence of the prestigious universities also attracts a number of students from all around the globe. These students need a place to live in for completing their courses in a timely manner. University of Bristol and University of the West of England are the top universities and every student wishes to enrol in the courses offered by these two prestigious universities every year for pursuing a successful and promising career.
On the other hand, a number of businesses like Aztec West Business Park and other digital media, electronics and businesses are located at the business-friendly place. So, business trips are likely to be higher and many job seekers and businessmen need a temporary or permanent place to live in a comfortable neighbourhood. Bristol offers a number of property types tailored to the needs of the visitors and guests.
Ideal Locations for Investing in the Right Rental Property
Although there are a number of reasons to invest in buy-to-let properties, the primary reason is the unique location of the residential, rental or commercial buildings. Distinct location inspires many property investors to invest their money into risky projects due to the higher yields in the future.
- East Inner City: Vibrant, eclectic and emerging neighbourhood attracts a multitude of people thanks to the relatively lower prices and undergoing development. This hidden gem offers a great opportunity to the investors for making extra money by investing in short-term rentals due to the lower competition and higher yields up to 5%. Lawrence Hill, St. Paul and Eatson are some of the inner-city areas in Bristol where potential investors can discover new vistas of promising investments.
- City Center: The rental yields are as low as 3% despite the availability of a wholesome urban life. Also, the perfect fusion of ancient and contemporary structures lure many visitors to find a unique living space where they can absorb themselves and discover an escape in the present and the past at the same time. On the contrary, the investors invest in the unique properties to provide the luxurious living experience to the visitors.
- Clifton: Clifton Suspension Bridge is an ideal place where you can invest in the rental property for the short-term accommodations as it will bring promising yields ultimately. This vibrant city has everything for the people with different tastes, flavours and preferences. Dotted with the vivacious and delectable restaurants, bars and entertainment places, this place offers everything for everyone. However, the rental yields are around 3%.
- Patchway and Stoke Gifford: With the rental yield of approximately 5%, this area in Bristol offers many opportunities to the homeowners or the property investors to launch their residential or commercial projects. The accessible location and presence of leading tech giants like Bristol Parkway and Aztec West business Park increases the probability of earning profits manifold. Besides, the affordable housing prices induce the investors and the renters to make a deal at this unique place.
- Northern Suburbs: This location is ideal for the students as well as for the families due to the presence of the well—known and ideal residential areas. The prices of the properties vary depending on the distance between the city and the suburbs. The homeowners with a large property portfolio can invest in this place also to earn a rental yield of 6% to 7%, which is very attractive and affordable for the investors.
- East Bristol: Live in a serene and tranquil surrounding while taking pleasure in the fantastic and rolling hills of Kingswood. Embracing a peaceful life with abundant nature offering a number of earning and investment opportunities at this City where you can take delight in the short stroll along the Kennet & River Avon Canal.
- South Bristol: South Bristol is famous for its artistic creations and exhibitions held by the artists round the year. The largest European event of graffiti festival Upfest also takes place at this unique place, attracting almost 50,000 visitors on weekends. Bedminster, Filwood, Hengrove and Knowle are some of the unique and well-known areas in South Bristol.
How Can Houst Help You?
Houst offers the professional hosting and property management services to maximise the returns manifold. If you have a diverse property portfolio and find it difficult to engage yourself in the nitty and gritty of the daily business affairs like guest vetting, cleanliness and other property management issues, the Houst can assist you.
Being a leading hosting management services, a number of investors are maximising their returns due to the efficient use of the property and the committed delivery of the services. If you’re planning to start your hosting business on Airbnb or any other platform, Houst is the right choice.
Curious to see how much you could earn on Airbnb? Schedule a free, no-strings-attached consultation with our Airbnb Management Bristol team to uncover your property’s revenue potential.
The Bottom Line
Finally, we conclude by saying that Bristol is an ideal place for the investors because it offers a multitude of options which affect the decision of the investors. For example, the investors are looking for the cheaper yet profitable properties and Bristol opens up new vistas for the passionate investors who are eagerly looking for the opportunities to earn higher yields with the minimum possible investments.