New startup, Uppie is aiming to help first-time buyers

New startup, Uppie, is aiming to help first-time buyers boost their deposit savings with upto £15,000 worth of Airbnb bookings.

The concept, which is the brainchild of two young entrepreneurs, George Rawlings (aged 25) and Jonathan Harris (aged 28), uses the income-generating power of Airbnb to help solve the first time buyer deposit problem.

George explains how the service works: ‘If you want to buy your first home but are struggling to save for the deposit then all you have to do is agree to become an Airbnb host in your new home. Uppie buys up to 90 days worth of Airbnb bookings from you in advance and then recoups this plus a host management fee.’

Effectively, Uppie is buying home-rental days in bulk from new Airbnb hosts, paying the first-time buyer this income upfront, and then managing the bookings under a service agreement.

While buyers need to be prepared to facilitate a number of Airbnb stays in their property for an agreed period of time, Uppie can provide a calendar of dates of key events when owners can maximise their booking income.

The new business model is perfect for towns like Cheltenham, with its many festivals and race meets commanding a surge in demand for short-term rental accommodation, which can in turn generate high prices on Airbnb.