Property group Portico Host expands letting services into the North West

Portico Host, the short-term lettings service run by London estate and lettings agency Portico, has expanded into the North West.

As part of property group Portico, Portico Host gives landlords the opportunity to utilise its management services for Airbnb-hosted properties, and short and long-term lettings solutions under one roof.

The expansion into the North West is driven by the company’s strategy to diversify its offering and is led by its partnership with Airbnb.

Portico intends to open in places where there is an active property market and clear opportunities for further growth, as one of only four members of the Professional Co-Host Programme run by Airbnb.

Portico Host has launched the service in Manchester in collaboration with coffee retailer, Pot Kettle Black in Barton Arcade, and in Liverpool the Portico Host team will be based remotely, to bring property services to the heart of the community.

The firm has chosen the North West as the location for its first venture outside London because of the region’s buoyant rental market and the size of the opportunity available.

Liverpool and Manchester are two of the best places to invest in property in the UK, in terms of the return long term investors can achieve.

In certain parts of Liverpool, landlords can expect to achieve a rental yield of around 9-10%, while in Manchester, landlords can expect to achieve a yield of 6-9%.

Landlords who use short-term lettings can expect to achieve a greater uplift in the achievable yield, when compared with longer term rentals.

Even with a 70% occupancy rate, Portico Host says it can generate an even better return, taking yields into double digits.

Using Portico’s instant valuation tool, landlords can find the short- or long-term rental value of their property.

Portico Host has seen great success with its tiered management package system and in-house property management services. Through the professional co-host programme, Airbnb will share with Portico best practices, provide additional support, and enable further technological integration.

New business director Fiona Patterson has watched Portico Host grow from an idea to a thriving business.

She said: “It’s no secret that the lettings industry is evolving, and at Portico we intend to change with it.

“After the success of Portico Host in London and our appointment to the Airbnb Professional co-host programme, it seemed only natural to bring our award-winning service to the best place for landlords to invest in the UK.

“Liverpool and Manchester share a vibrant Airbnb and letting market, enabling Portico landlords to achieve better yields for their properties.“

This new venture will be led by Rachel Dickman, who joins the team as Portico’s regional manager for the North West.

Dickman is an industry veteran, with experience working with property agents such as YOPA and Countrywide. Joining Dickman is Emma O’Rourke, who has been appointed Portico Host manager for Manchester.

Rachel Dickman said: “This is an exciting time to be in the property industry.

“The North West is a natural next step for Portico Host, as Airbnb short-term rentals generated over £37m in revenue in 2018 alone, according to Airbnb’s most recent insight report, and boosted the overall UK economy by £3.5bn.

“I look forward to bringing Portico Host to the North West’s vibrant marketplace.”