Airbnb offers a huge online market place where property owners can list and rent their own residences, and holidaymakers and business travelers can book these accommodations at extremely competitive rates.
By cutting out the middleman and offering the best rates directly to the customer, Airbnb poses a profitable project for property investors, and an ideal solution for those who happen to have property for rent in a highly desirable location.
In most cases it’s a win-win situation. The property owner takes higher rates for the short-term rentals and the guest saves money by having access to a legitimately comfortable living space, not just a plain boring old hotel room.
However, since all properties are privately owned, there are issues that can arise both for the landlord and the guests. Thankfully, Airbnb has great regulations in place to reduce the risk of either party being unsatisfied with the transaction, and the feedback, comments and user ratings can provide further insight before you decide to confirm your booking.
With this in mind, it’s advisable to call upon the help of a property management company that specializes in Airbnb rentals. Only really trained professionals with years of experience dealing with Airbnb rentals will know exactly what to expect from either end of the deal.
And whilst it’s true that many people do well managing their rental themselves, finding a Airbnb property management company is highly advisable because there is a special art to the whole procedure and those with the right knowledge, as well as the right properties, have the potential to turn over some serious profits.
What Makes a Popular Airbnb Rental?
If you’re based in Sydney and you have a property to rent out, then you’re most likely on to a winner. The main factors that will make your rental more attractive are location, cost, number of bedrooms and its facilities.
When it comes to location, the selling points are pretty clear; the closer you are to the CBD, the beach, or any tourist hotspot, the more custom you’re likely to receive. Being within walking distance of public transport is also a major factor since many of your potential guests will be new to the city.
The number of bedrooms is also highly important, larger residences that offer more space than a standard hotel room tend to be most popular, so 1-3 bed room apartments, together with villa and holiday home rentals are usually the most sought after.
The facilities on offer can also make or break a deal. Popular features such as a private pool, Jacuzzi, balcony, roof top terrace, landscaped garden and/or parking will all help win over most potential customers. Then there’s the in-house facilities, such as the media entertainment center, house appliances and utensils; the better they are, and more you can provide, the more likely your property will be to get rented.
In the end it all comes down to the room rates you’re asking, which should be directly related to the property’s features and facilities.