Airbnb

That sounds great ! I am hungry again now....

 

That's great @turk. Following this with interest. Please keep posting your experiences.

Who is your insurer please for this type of letting?

 

Interesting that Stayz has produced more bookings.
I have two Airbnb properties - a flash warehouse pad attached to my house, and a modest flat around the corner.
The modest flat does not attract premium rentals. It is well booked, but I'll be taking it off Airbnb because the extra rental is not worth the effort. Don't forget the fact that when properties are on the short term market, you need pay the power, water and internet expenses. Those things would be incidental for a property in a place like Middle Park, but not for a more budget property.

 

@Player when we did airbnb, we used Terri Scheer.

 

Could be true or not. Just like Domain and Realestate both put out different numbers that we don't know who to believe.

Not sure about most people, but I never heard about Stayz before this. Although I haven't searched for holiday accommodation before so that might be why.

 

If Turk is reporting on his personal experience, there is no reason it wouldn't be true.
Stayz has been around forever. Well, 25 years at least. That's 'forever' these days.

 

I should have wrote it differently. I meant that it may not be true as a blanket statement for Airbnb vs Stayz results.

Like when Domain is saying they get more views on listings etc. It only applies to certain suburbs/areas while other areas Realestate dominates them.

Stayz has been around for 15 years actually.

 

Only 15? Still a long time. And before that there were others. Interesting how Airbnb, the newcomers, have captured the attention of so many people. Clever marketers.

 

What I think is that Airbnb is for everyday travellers to anywhere and everywhere. While I feel Stayz would be used more for holidaymakers for typical holiday destinations. I would never have considered listing a near city apartment on Stayz. My West Ryde unit is on Airbnb and i'm really surprised at who books. The latest one is someone doing a reno in their home nearby. Another one was someone who was in Sydney for Golf lessons at the Parramatta- Ryde golf club. Another was a doctor from South Australia who had exams at Westmead.

I guess this takes "business" away from staying at either friends places or from hotels/motels.

 

Thanks jodes. I didn't realise Terri Scheer covered this type of letting over and above the base building and contents insurance.

@Depreciator and @Gockie could you please share who do you use for your insurance on these rentals.

 

Terri Scheer.
They are not expensive at all (ballpark $400 per year) and I made sure the cover allowed short term stays.

 

Tell them Gockie sent you and you may even get a discount

 

I think NRMA are offering AirBnB insurance I saw on the website Uber dirvers/car insurance too.........

 

Player, I have landlord insurance through St George. I'm not sure who underwrites it. Every year I call up and make sure there is a note on the file that says I am letting the place short term. I'm not worried about damage and stuff like that, more the liability. There is now a company just doing liability for short term rentals. It's only $200 per year or so. It's an add-on to your existing insurance. Give me a yell Monday when I'm at work because I know I have the flyer on my desk somewhere - it will be a good excuse for a tidy-up.

 

Thinking about the Airbnb vs Stayz thing....
Most of my Airbnb guests come from overseas. None of them would have heard of Stayz. It is very much an Aussie thing.
Younger people here, say, under 35 would be more inclined to use Airbnb than Stayz because Airbnb is much more functional and 'cool'. Airbnb doesn't yet have much regional penetration, though.
So for regional holidays and for people over 35 Stayz probably has the edge.

 

Whats the best way to structure this kind of setup?
Income disribution via a Business, Trust ect...
As you maybe providing your own cleaning service.

 

I'm not that sophisticated. It's just a rental property.

 

Ditto. I just keep it simple.

 

I have never heard of Stayz till just now, I use Airbnb and really like it. I was in Melbourne for a week last week and used Airbnb.

 

And by the same token, a work colleague only heard of Airbnb earlier this week and asked me to explain it to her.