It’s no secret that Airbnb offers huge discounts on room rates when compared with luxury hotels and other equivalent accommodations and because these properties are all privately owned. It’s also no secret that you can find some extremely unique and breathtaking rooms for rent you couldn’t dream of finding when using traditional hotel and accommodation searches.
When booking Airbnb accommodation, the quality of the accommodation and extremely competitive rates can equal savings of up to 90% when compared with hotels and conversely, as a property owner, you can stand to make anywhere from 50-90% more profit on these short-term rentals than you would rent for extended periods of time.
These reasons are just some of the many factors that make Airbnb so popular, both for holidaymakers and those looking to move up on the property ladder.
Seems a little too good to be true right? In some cases, it can be, which is why it’s highly important to use a trustworthy Airbnb management company with a lot of experience and a good reputation. Only those who’ve really delved into the market will have any idea of the wide array of issues that can arise when renting out private properties. So it’s best to book through someone knowledgeable, who can problem solve and negotiate on your behalf should anything go wrong.
Quality Airbnb Management in Sydney
If you own a property in any desirable area of the city, coastline or countryside, then Airbnb rentals could be an ideal solution for you. In contrast to long-term contracts, renting out the property by the night or week can offer a much higher return on your investment, however, not all properties will perform well as a short-term rental. In addition, there are certain cities that just aren’t popular on the Airbnb circuit; Sydney, however, isn’t one of those cities and if your property is in the right place and offers the right amount of comfort, for the right price, then you can stand to make a mint.
There are a few main factors you should consider before deciding whether or not your residence will provide an ROI you’re happy with, the very first being location, followed by size, décor, and equally important, your personal reputation.
If your property isn’t within reasonable distance of popular tourist hotspots, the CBD, the coast, or at least countryside locations near national parks and other popular attractions, then you may have to accept that your place isn’t going to be popular for short-term holidaymakers or businessmen. Accessibility is also a key factor here; it’s likely that people renting your property will be on holiday, or at least, will not fully know the area, therefore being close to public transport is often a must.
Number of Bedrooms
Then there’s the space itself. Small poky rooms may offer a very affordable solution, but are unlikely to impress potential guests, most of whom will have already set their budget a little higher than a hostel, guest house or cheap bed and breakfast room rates.
The most popular accommodation tends to be 1-4 bed condos and apartments, as well as the complete house or villa rentals. It’s also been noted that Airbnb hosts with several listings tend to do better than others, which goes to show that word of mouth and reputation really help drive up the popularity of your listing.
Décor and Amenities
Not only does your residence need to be comfortable, it needs to be welcoming and the more amenities you can offer, the more likely potential guests will like to stay. Selling points can come down to a huge variety of factors that include anything and everything from panoramic views, high-end entertainment systems, private swimming pools, or rooftop Jacuzzis; basically, whatever features your property has, flaunt them.
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