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Heres what you need to know!
What are the pro’s and con’s of holiday management over long term rental?
These are the main pro’s for us..
#1 - higher returns
#2 - better maintenance
#3 - more control over quality tenants
#4 - flexiblity to use property for personal use
#5 - more cash flow to either pay down loan, equity or invest back in with improvements.
The con’s..
#1 - no predictable income in the early months
#2 - some months are slower than others
#3 - higher council rates and insurances
#4 - higher management fees
#5 - higher wear and tear on property and furnishings
Will the property do well on Airbnb?
The Property Hosts have been short-term holiday managers for a long time now we have certainly seen our fair share of properties come and go and perform - or not, for various reasons. Not all properties should be short-term rentals!
#1. Location, location, location - think beachfront or at least walking distance to one of the amazing Sunshine Coast beach's such as Mooloolaba or Coolum or alternatively the Hinterland with stunning misty backdrops and near the magical townships of Maleny and Montville. Likewise, centrally located properties that offer space and privacy can also do well - such as Buderim and Bli Bl.
#2 Something special - guests are on holiday and where they choose to stay could make or break their trip. A holiday home should be beautifully thought out with a point of difference, it should be homely but not cluttered, stylish but not sterile with all the comforts you would expect at home.
#3 A curated experience, visualise guests in your space, what sort of experience are they going to have? They should be leaving wowed and with expectations exceeded.
#3 - Views - properties with amazing views are highly sought after by guests - is it an elevated valley view to the hills, a beautiful oceanfront vista, glasshouse mountains - or all of the above!
#4 - A pool or a spa - both are highly sought after and in the winter months heating the pool will encourage higher occupancy
#5 - Instagram worthy - yes I said it. People like beautiful places and spaces!
#6 - Last but certainly not least - a quality management service. Someone with experience that really finds joy in quality service and cares not just about your property but about your guests. Some managers really just 'get it'!
If you are thinking of buying a property always do your due dilligence and remember, nothing is guaranteed. If you would ever like advice or someone to brainstorm ideas with Monique loves chatting all things Airbnb and particularly how to create a successful and lucrative Airbnb!
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