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Airbnb

Discussion in 'General Property Chat' started by turk, 27th Feb, 2016.

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  1. turk

    turk Well-Known Member

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    In the process of converting a rental property into a Airbnb rental, located in Middle Park

    Edit: need to work out how to post photos.
     
  2. turk

    turk Well-Known Member

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  3. wylie

    wylie Moderator Staff Member

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    Looks great. Is Middle Park close to anything that is on the tourist trail? I was surprised several years back that we were arranging a house swap and a lady in Rome was prepared to swap for our house in Coorparoo. We aren't close to anything, and in suburbia, but she was happy to do the swap. (We didn't end up swapping in the end, but she did swap with a friend in Holland Park for a few months, and then she was jumping to our house - all coincidence about my friend until we talked much later.)
     
  4. Chilliblue

    Chilliblue Well-Known Member

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    I simply cut and paste the images into the dialogue box and it works for me @Simon Hampel can you help?

    Love your work @turk
     
  5. Simon Hampel

    Simon Hampel Founder Staff Member

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    Those first images look like URLs to files in a private dropbox folder which we don't have access to, which is why they didn't work.

    They either need to be public, or else upload them as attachments to the post and then "insert" them into the image from there (there's a button to do that).

    (EDIT: looks like this is what you did the second time)

    There is a third option - upload them to the gallery and then insert the images from there into your post.
     
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  6. turk

    turk Well-Known Member

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    @wylie, Middle Park is very central, the beach is at one end of the st., Albert Park Lake area at the other. Light rail 1 minute away which takes 5 minutes to St Kilda or 10 min. to the city, numerous other attractions within walking distance.

    Thanks @Chilliblue and @Simon Hampel.
     
  7. House

    House Well-Known Member Premium Member

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    Very nice. What do you estimate the weekly $ difference between renting it and AirBnb'ing it to be? Guessing at least $300-$400 extra/wk in peak season?
     
  8. turk

    turk Well-Known Member

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    Hopefully it will be $1000+ extra in the peak season.

    Melbourne in general has woefully low yields compared to other capital cities and Middle Park being inner city blue chip is even lower. This property would yield around 2.4%.
     
  9. Lisa Parker- Buyers Agent

    Lisa Parker- Buyers Agent Well-Known Member Business Member

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    Good on you @turk i hope it pays off for you and I look forward to following your journey with it as I am interested in looking at giving it a go myself.
     
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  10. Omnidragon

    Omnidragon Well-Known Member

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    I've found the airbnb market in Melb not to be one that is overly in demand compared to some other cities I've stayed in.
     
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  11. melbournian

    melbournian Well-Known Member

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    I live around your area and interested to see how you go with your returns. analyzing one for my SMSF though i am looking at CBD next to the southern cross station. Check out the article from the age last month, lots of people do well with airbnb

    Airbnb's reach extends from spare rooms to empty, multi-room properties, report reveals
     
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  12. turk

    turk Well-Known Member

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  13. Player

    Player Well-Known Member

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    Hi turk. Can you please outline who insures commercial activites such as this and what the cover extends to for building and contents and furnishings and the premium?

    This might be suitable for one of ours on the Gold Coast near where we live as it is very near a tourist area, beach, Pacific Fair etc. Thanks
     
  14. thegreat

    thegreat Well-Known Member

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    Stupid question, I know but, Does airbnb mean that the room rented out or the whole property rented out? who provide breakfast if the whole house rented out for days/weeks?
     
  15. Ambit

    Ambit Well-Known Member

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    I think it started out small with people renting out a room or two in their house and has just grown. I was looking for one by the coast and it was mostly entire houses, some looked very new. In those you do your own cooking.
     
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  16. Redwood

    Redwood Well-Known Member

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    Hi Turk -

    Will be interested in the rental by AirBNB v Perm rental? will be low in any case, as we know Middle Park is one of the most expensive suburbs in Melbourne by square metre.It s an awesome area - but what sort of tenants will you experience? I would think high demand for backpakers which would concern me for Short term rentals?

    Cheers Ivan
     
  17. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    I think the amounts of money charged per night won't attact a backpacker crowd!
     
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  18. Depreciator

    Depreciator Moderator Staff Member

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    Very few Airbnb hosts provide breakfast. Those who rent out whole apartments naturally don't, though they leave some food. Even people who rent out a room in their house rarely make people breakfast, but they also would provide some food for people to make their own breakfast.
     
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  19. turk

    turk Well-Known Member

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    @melbournian, the property was listed on Airbnb and Stayz at the start of March, to date we have had 19 nights occupancy with another 61 nights booked.

    Averaging $200 nett per night as opposed to $80 nett per night on a normal rental.

    To date Stayz bookings outnumber Airbnbs by 3:1.
     
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  20. D.T.

    D.T. Adelaide Property Manager Business Member

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    We went up to Clare Valley for Easter and the hosts left a nicely presented picnic basket with bacon, eggs, orange juice, mushrooms, butter etc in the fridge. And on arrival gave us a freshly made loaf of bread.