VIC Airbnb Property Managers

Hi

Does Anyone have experience in Airbnb renting? Is it actually worth renting out IP as AirBnB more than long-term lease?

Has anyone tried the following Airbnb Property Managers?

Property Management Adelaide & Airbnb Rental Company | KingsCoin
Airbnb Management Melbourne | Short Term Rental | Airkeeper
https://madecomfy.com.au/airbnb-management/melbourne/
Melbourne Airbnb Management | Hey Tom
https://hometime.io/

What do they do for you? Do they actually free you from the property preparation for Airbnb?

 

I currently rent 2 properties on airbnb in Canberra and have done for the past 12 months. Where is your IP located? Management fees currently are around 17% for most airbnb managers, this does not include cleaning which is usually $120-160 per clean for a 2bed/2bath unit, but then laundering is an additional charge if you don't do it yourself. I do most of the cleaning, laundry, maintenance and management myself so it's worthwhile, but if you didn't do this IMO it's hardly worth it. But depends on your property, how much in demand it would be and how much per night you would average. If it's a higher end property you could do better than long term even with all the fees. I would recommend if you do it that you live in the same city/town, because there are always times when you need to go there, even if you have a manager. Cost to set up is about 10-12k which includes bedding and fully furnishing and equipping the property. Ikea is great value. Doesn't include new flooring if you needed it.

 

My IP has long-term leases. Based on what you said, it is too risky for me to do Airbnb because I do not know my AirBnB market in my IP areas before spending a large sum of money on furnish and equipping the IP.

 

I have been managing my own property, living their and renting out the rooms/sections of the house on airbnb in Sydney. I have a system in place (smart lock, camera, etc) whereby I have help from family (I pay) to clean and the guest can easily check in without much interaction from me. Been doing this for over 2 years now. I prefer over long term tenants as it gives me flexibility. I think after all fees, it's about the same as long term tenants.