New to Short-stay?
Chances are, you’ve heard of companies like Airbnb and others. Or perhaps even, you’re an Airbnb “frequent-flyer” yourself because you’ve realised the choices available, and the value for money it offers compared to hotels.
If your property is currently leased to a long-term tenant, you may have thought of renting out your apartment on a short-term basis.
Why Invest in Short-stay?
Higher Return On Investment
Many smart investors are already using this avenue to tap into hidden money and generate huge ROI – as high as 8%. That means you could be leaving up to tens of thousands of dollars off the table if your property is being leased to a long-term tenant.
Better Upkeep of Property
Consider this: a property with long-term tenancy is only cleaned once or twice a year. With a short-stay arrangement, your property is rigorously cleaned after every occupancy. Guests pay for cleaning and laundry services.
Peace of Mind
Just like your long-term tenancy arrangement, there is a bond charged for every stay to cover any unlikely damage. For the ultimate peace-of-mind, Airbnb also provides a public liability insurance for up to 1 million for every listing on their website.
Occupy Your Own Property
Perhaps you’re an overseas investor with children studying in Melbourne. Or simply live and play hard. Did you know that with a short-stay investment property, you can block out days to occupy the property as you wish? So you can live in your own apartment when in town visiting your kids, or a city pad for your night-outs. Any day of the year, your choice.
I want more information
Not all properties are suited to an Airbnb or short-stay arrangement from a ROI point of view. We can advise if your investment property is best suited to a short-term or long-term tenancy, or suggest features and locations to consider for your next property.