Remote working is no longer a rarity in the UK, and in the world in general. Remote workers are increasing everyday. As well as travel, online shopping, and healthcare, the pandemic has redefined the way we choose to work – and, more importantly, where we work from.
Reports from OfficeHomeLife indicate that the British remote working population rose from 5.7% in February 2020, to a staggering 43.1% in April.
Now, after lockdown, 38% of the population choose hybrid working (a combination of working from home and working from the office) – and those who took part in this survey were earning between £30,000 and £40,000 per year.
So, what does this mean for the short-term rental market?
Well, not only are working people with a reasonable amount of disposable income choosing to work more from home (or any other remote location) – the majority of them are Millenials and Gen Z’ers; and they prioritise lifestyle, experiences, and travelling more than ever before.
Meaning short-stay accommodation across the world is in huge demand, as people no longer need to be tied to their office desks to do a job.
In today’s piece, we’ll cover why short-term rentals wipe the floor with traditional hotel options for modern-day remote workers; and how they actually make you more productive, healthy, and happy.
Attracting the Wanderlust Workers
It’s no surprise that the word “wanderlust” is trending on Instagram, as a growing portion of the younger generation is drawn to experiential travel and short holiday breaks.
With the majority of the population stating that they prioritise travel more than keeping in touch with extended family, people are looking to combine their remote working lifestyle with being a tourist more than ever before.
It’s therefore much easier for these workers to book short-term rental accommodation rather than checking in and out of different hotels at various locations, as not only does this seem cumbersome and clinical – but it offers better value for money, too.
What’s more is that a number of short-term rentals are located in the most interesting areas across sought-after destinations (as opposed to hotels, which are normally just near crowded tourist sights). For those who want to immerse themselves in a different culture while they work, STRs truly are the ideal solution.
You can read more about the technology trends in the travel industry, how it’s evolving and what changes they can impact.
The Room to Work For Remote Workers
Nobody wants to spend up to 7 hours a day cooped up in a small hotel room, trying to work. Not only is this unhealthy and can cause symptoms of anxiety and depression; but it’s physically uncomfortable too (hotel rooms don’t often provide enough working desk space – unless you’re paying a fortune).
In a short-term rental, where there’ll likely be a separate kitchen, dining room, and more walking space – remote workers will feel more motivated to take short breaks and thus, improve their productivity.
Those who need to present live webinars, record presentations, or break their working day up with a spot of indoor yoga will also appreciate the additional space in an STR, and not have to spend any extra money on hiring out an additional venue.
More Work and Family Balance
Understandably, this new era of remote working has been attractive to parents – who are looking to earn a healthy income, alongside their family commitments.
We’ve also seen an increased interest in homeschooling (globally) since the pandemic, as more families prioritise having a “balanced” lifestyle that revolves around travelling, rather than the office.
For this big fraction of the population, STRs are the perfect fit, as they can be rented for months at a time and are generally better suited to children than traditional hotels.
It’s not uncommon these days for families to spend one season in Dubai, and the next season in the UK – while parents continue to work remotely and children don’t fall behind on their education. In this instance, short-term rentals and the flexibility they offer, are ideal.
So, as laptop lifestyles, home offices, and planning your adventures around Zoom meetings continues to be at the forefront of most people’s minds, it seems short-term rental accommodation is here to stay – and possibly even take over larger hotel chains.
If you’re one of the remote workers or hybrid workers and are looking for short-term rental accommodation across the UK, Europe, and Dubai, have a browse through Luke Stays’ portfolio – where you’ll always get the best rates if you book direct.