AirBnB Property Managers (Melb) - any experiences?

Hi guys,

I'm considering AirBnB'ing a property, although I'm a pretty busy guy. I've noticed a few companies that manage AirBnB properties on behalf of owners.

AirBnBhandsfree.com.au is one (clever name) - they charge 13%.
MyBnBBulter is another.

I'm sure there are a few more.

Does anyone have any experience (good or bad) with these companies? I get the feeling most of them a simply a website and not much else.


David.

 

Hey Dave

That's cheap! I can't speak for that company - but like everything in life - you get what you pay for it.

My wife runs an Airbnb property management business up in Noosa and the Sunshine Coast - Homepage - Team BnB

They charge 19% but they do EVERYTHING - they're basically a property manager for a short term holiday rental. They create the AirBnb listing using pro photos. They liaise with guests, meet them at the property to check in, provide advice on the area, available for the guests during their stay and then organise the cleaning when they leave. The property owner doesn't lift a finger.

If your property is in a touristy area (or an area people frequent for business) then you could do well out Airbnb.

Cheers

Jamie

 

@Jamie Moore , my property as a normal rental achieves $570pw. It's very close to the CBD, a huge hospital (North Melbourne - potentially some short term doctors as guests?) and in the heart of Melbourne best breakfast cafes.

What type of rental premium can people usually expect renting via AirBnB?

 

It sounds cheaper, but reading through their website everything else is on top - eg pay to setup the listing, pay to organise a cleaner, pay to get concierge level service, etc

 

Home (HeyTom.com.au) says it's only a +20% premium (minus PM fees). Sounds pretty low?

People are talking about 2x the standard rent, but perhaps that's gross without factoring in the furniture, cleaning and so on.

 

Check out the prices for comparable properties currently listed on Airbnb in your area. Then get an idea of current vacancy rates.

Keep in mind - prices also vary depending on seasons. For instance - those that own properties up in Noosa charge A LOT during Christmas, Easter, School holidays, etc when there's nil vacancies and a massive influx of tourists.

Cheers

Jamie

 

Also depends on type of property, you can sometimes pay close to 50% of a regular weekly rent for 2 days or less in a nice modernised 3/4 bed tce with 2 baths appropriate for a family or 2 couples etc whereas a 2x1 or 2x2 high-rise apartment in comparison would command less of a premium over being rented traditionally

Eg I've stayed in inner 3 or 4 bed 2/3 bath spots in collingwood, Carlton,and Richmond when there were a few of us and I remember in one extreme instance paying nearly 500/night for a place that would have been rented for 800/wk unfurnished whereas the apartments were less of a hike as there ars a bucket load of them

 

I'd love a few of these....

 

Do yourself a favour David and avoid the short term rental market. You only get pain, unless you have a large bond, and your rentals will be spasmodic with your place empty most of the year depending on where it is.
Good luck with that one. Having seen this market in operation it is to be avoided unless you have very good insurance.