Homeowners could make £1,000s by renting out their place to Taylor Swift fans next month

Taylor Swift’s highly anticipated Eras Tour is heading to the UK next month. Homeowners in key concert cities are being urged to take advantage of the tour to potentially win £1,000.

Property experts say landlords in Liverpool, as well as Edinburgh, London and Cardiff, have a unique opportunity to boost their rental income. All they have to do is list their property on Airbnb.

Online mortgage advisor, Mojo mortgage, analyzed Airbnb data from these locations. The company listed the gains homeowners could make by capitalizing on the surge in demand for accommodation from ‘Swifties’.

How Much Money Homeowners Could Make:

Edinburgh stands out as the city with the highest potential earnings for homeowners. With an average nightly rate of £971.32, homeowners could earn close £3,000 over the three-night stay – this is probably because it’s Swift’s only stop in Scotland.

As the capital of the United Kingdom, it should come as no surprise that Swift spends most of her British leg in London. Eight days, actually.

Although there is a lot of competition for an Airbnb in London, which makes the average Airbnb price per night lower, there is still money to be made. During the eight nights, the homeowners could only earn a little £2,800 by listing their property on Airbnb.

Meanwhile, homeowners in Liverpool they also have a lucrative opportunity to increase their income. With three nights of gigs and an average Airbnb price of £443.27 – homeowners could earn over £1,300 in additional income.

Finally, even with just one concert date Cardiff, homeowners can still capitalize on Swiftie growth. Average Airbnb price of £790.28 it could translate to almost £800 in extra income.

Airbnb prices increased by +533% during Taylor’s tour

Mojo Mortgages data also found a significant increase in Airbnb prices during Taylor Swift concerts, compared to average prices outside of the concert time frame:

The data shows that homeowners in these four cities have a unique opportunity to potentially earn thousands of pounds in extra cash. Whether you want to spend the money on home improvements, a vacation, or attending another concert if Taylor Swift isn’t your thing, there’s money to be made.

However, beyond the financial benefits, there are also wider benefits for the community and concertgoers. In addition to contributing to the local economy by promoting tourism and showcasing your city’s unique culture and offerings, playing host makes you part of the memorable fan experience.

Four tips for renting out your home during the Eras Tour

Be sure to implement the following four tips to effectively rent out your property during Taylor Swift’s tour:

Check with your mortgage provider. Check whether your mortgage agreement allows you to sublet your property on a short-term basis. Some lenders may have restrictions, so it’s essential to get their approval before listing on Airbnb.

List your property on Airbnb. Create a detailed listing that highlights your property’s features and proximity to concert venues. Make sure the nightly rate is competitive to attract the ‘swifties’ to choose your property.

Be prepared for guests. Make sure your property is well-equipped to handle the influx of guests by providing clear instructions, stocking up on essentials and ensuring they have a smooth check-in and check-out process.

Declare this additional income. Remember that Airbnb take a percentage of your winnings, and you will need to report all rental income to HMRC. If you are not sure how much tax you have to pay, seek professional tax advice.