Short Let Yield in Leamington Spa — What a Property Realistically Returns
Last updated: April 2026
The income difference between short letting and a standard tenancy in Leamington Spa is wider than most landlords assume — and it holds up even in the quietest months.
This page is for landlords who already own a property in CV31 or CV32 and want to understand the realistic financial return before making a decision — not the ceiling figure, the actual range.
The honest version of this question isn't just "how much could I earn?" — it's "what's the floor, and does the floor beat what I'm already getting from a long-term tenancy?"
Below are net income figures from Stayful's enquiry data for comparable Leamington properties, an annual breakdown, and a straightforward worst-case comparison that answers that question directly.
Short-let yield in Leamington Spa typically runs 71–94% higher than long-term tenancy income on the same property. A two-bedroom property in CV31 nets £2,045 per month as a short let versus £1,056 on a long-term tenancy. Even in January, the quietest month, comparable CV31 properties have returned above long-term rental rates. These are conservative estimates from Stayful's enquiry data for comparable Leamington properties.
Net Income by Bedroom Count — Leamington Spa Postcodes
The figures below are net estimates — after Stayful's 15% + VAT management fee — drawn from enquiry data for comparable properties in Leamington Spa.
The "worst month" column is the figure that matters most for landlords comparing against a fixed long-term tenancy.
| Property | Net STR avg/month | Worst month (Jan) | LTR equivalent | Uplift vs LTR | Annual net STR |
|---|---|---|---|---|---|
| 2-bed, CV31 | £2,045 | £1,704 | £1,056 | 94% | £24,540 |
| 3-bed, CV32 | £2,261 | £1,884 | £1,320 | 71% | £27,132 |
| 2-bed, CV34 (Warwick) | £2,045 | £1,704 | £1,056 | 94% | £24,540 |
| Net figures after Stayful's 15% + VAT fee. Source: enquiry data from comparable Leamington and Warwick properties. Not a guarantee of future income. | |||||
The Warwickshire conservative uplift range of 71–94% reflects the bottom end of results across the full bedroom spread — not the median or the best case.
A landlord comparing against a long-term tenancy should compare their LTR figure against both the STR average and the worst month — because the worst month is the relevant floor, not the average.
Annual Net Income — Short Let vs Long-Term Tenancy
The worst-case annual figure uses January's rate applied across all 12 months — a scenario where demand never recovers from its lowest point.
Even in that scenario, a 2-bed CV31 property returns £20,448 per year against a long-term tenancy income of £12,672 — a £7,776 annual difference in the owner's favour.
Monthly Income Breakdown — Typical, Peak and Quietest Month
The Honest Worst-Case Picture
No short-let provider can guarantee a fixed monthly income — and we'd be cautious of any company that claims to.
The relevant question for a landlord switching from a long-term tenancy is not "what's the average?" — it's "what's the floor, and does it still beat what I'd get from a tenant?"
For a 2-bed CV31 property, the floor is £1,704 per month in January.
The long-term tenancy equivalent is £1,056 per month — fixed, every month, including the strong ones.
The short-let floor still exceeds the long-term ceiling by £648 per month.
per month more from short letting in Leamington Spa's quietest month — compared to the long-term tenancy equivalent for the same 2-bedroom CV31 property. The floor exceeds the long-let ceiling in every month of the year based on comparable enquiry data.
What makes below-average performance structurally unlikely is the combination of two things working simultaneously: Stayful's occupancy and pricing expertise (which consistently delivers 65–70% occupancy against a market average of 55%) and the 40% direct booking channel, which reduces exposure to Airbnb and Booking.com algorithm changes.
For both to fail at once would require a significant and sustained local demand event — not a quiet January.
What Affects Short-Let Yield in Leamington Spa
Yield varies within the Leamington market — not just by bedroom count but by postcode, guest profile and proximity to specific demand sources.
CV31 covers the eastern part of Leamington including the town centre approach and key residential streets — it performs strongly for both leisure tourists and contractor stays given its walkability to The Parade and central amenities.
CV32 covers the northern and older residential areas and typically suits family lettings and longer contractor stays — demand is steady year-round but less event-driven than CV31 town centre properties.
CV34 (Warwick) properties benefit directly from Warwick Castle and Warwick Racecourse proximity and perform at a comparable income level to CV31 for the same bedroom count.
For a postcode-specific yield estimate, the income estimate form produces figures tailored to your exact address rather than a district-wide average.
In the Leamington market, 2-bedroom properties show the highest percentage uplift over long-term rents — primarily because LTR rates for 2-beds are relatively low compared to what the short-let guest market will pay.
3-bedroom properties show a lower percentage uplift (71%) but a higher absolute net income (£2,261 vs £2,045 per month) because the nightly rate scales more than the fee.
Properties with a dedicated workspace, good broadband, and blackout blinds tend to achieve higher occupancy from contractor and corporate guests — a meaningful factor in Leamington's year-round demand profile.
Leamington's peak demand runs from May through August, with the Warwick Racecourse flat season, the Leamington Food and Drink Festival and summer leisure tourism combining to push occupancy and nightly rates to their highest point.
September and October remain strong, supported by the tail of the racing season and autumn event activity at Stoneleigh Park.
January and February are the softest months — but contractor demand from Warwick Hospital, University of Warwick visiting staff and Stoneleigh Park exhibition attendees means Leamington doesn't experience the sharp winter drop seen in purely tourist-driven markets.
A full area-by-area breakdown of how demand varies across Leamington's postcodes is available on the best areas for Airbnb in Leamington Spa page.
The single biggest driver of below-average yield in short letting is platform dependency — properties managed exclusively through Airbnb are exposed to algorithm and policy changes that can reduce visibility and booking volume without warning.
Stayful's 40% direct booking rate means a significant portion of each property's revenue comes through a channel the owner and manager control directly — not a platform that can change its terms or fee structure at any point.
Dynamic pricing — updated daily based on live market data for the Leamington area — ensures nightly rates respond to local demand signals including race meetings at Warwick, events at Stoneleigh Park and wider Midlands demand patterns.
The yield figures quoted on this page reflect Stayful-managed performance — a self-managed property on Airbnb alone would typically achieve lower occupancy and lower nightly rates from the same Leamington address.
Monthly Income Range — 2-Bed CV31 Property
Questions About Short Let Yield in Leamington Spa
For landlords comparing against a long-term tenancy, the income uplift from short letting in Leamington Spa runs 71–94% on a conservative basis — meaning net monthly income roughly doubles on a 2-bed CV31 property.
A 2-bed CV31 property typically nets £2,045 per month versus £1,056 on a long-term tenancy.
A 3-bed CV32 property typically nets £2,261 per month versus £1,320 long-term.
For a gross yield calculation based on purchase price, you need the actual purchase price — the income estimate gives you the annual net income figure, from which you can calculate yield for your specific property.
For most property types in CV31 and CV32, yes — the net short-let income exceeds the long-term tenancy equivalent in every month of the year, including January.
The 2025 FHL tax changes removed some of the tax advantages that previously existed (capital allowances, BADR on CGT), which narrows the after-tax advantage for some landlords.
Whether it's more profitable overall depends on your mortgage type, your individual tax position, and the specific property — the income estimate is designed to address your specific address rather than a market average.
If every month performed at January's rate — the absolute worst-case scenario — a 2-bed CV31 property would generate £20,448 per year net.
The long-term tenancy equivalent is £12,672 per year — meaning even the absolute worst case from short letting exceeds the long-term tenancy by £7,776 per year.
A more realistic underperformance scenario — occupancy 10–15% below Stayful's average — still produces annual net income significantly above the long-term alternative.
Town centre and Parade-adjacent properties (CV32) achieve higher nightly rates from leisure tourists and weekend visitors.
Properties closer to the CV31 / CV34 border — nearer Warwick — benefit more from racecourse and Warwick Castle proximity.
Areas with good road access to Stoneleigh Park and the A46 tend to perform better during mid-week exhibition periods.
The best areas for Airbnb in Leamington Spa page covers each neighbourhood in more detail, including which postcode areas are better suited to which guest profile.
The figures are drawn from Stayful's enquiry data for comparable Leamington properties — they are net estimates, not gross projections, and they use the conservative end of the range rather than the median or best case.
They are not a guarantee: individual results vary based on property condition, furnishing standard, exact postcode, and market conditions at any given point.
The income estimate form generates a figure for your specific address — postcode, bedroom count and property type — which is more precise than the postcode-district figures shown here.
Speak to Stayful about yield for your specific Leamington Spa property, or run the income estimate first to see the numbers before the conversation.
Related Pages — Leamington Spa and Warwickshire
See the Yield for Your Specific Leamington Spa Property
The income estimate shows you net figures for your postcode and bedroom count — including what the quieter months look like.