Granny flat as Airbnb Thoughts? Liverpool Lurnea area

Didnt really think of it but had a look at another example

Cozy and new flat stay up to 5 people - Guesthouses for Rent in Mount Pritchard, New South Wales, Australia

$90 per night
-Vacancy
-Clean up cost
-Airbnb commission

The GF would normally lease for $400 p/w in this area

I assume the above owner lives in the front house so it makes sense?

What are your thoughts on Granny flats?

 

I'll say the same thing I say about doing short term lets in general. I think it's only suitable for certain properties in certain locations and you need to be very selective.

Otherwise I think the results would barely be above that of a normal rental, and therefore not worth your time.

Advice would apply especially so to a GF because of the limitations and proximity to a main dwelling.

 

We have a house and granny that is on AIRBNB - we use an agency so that it is also listed on corporate sites etc. They also adjust pricing based on demand and events.

The granny flat goes really well at around $130 per night - previously it rented for $450 per week on an unfurnished log term lease. The cleaning is an extra fee that the tennant pays, so no landlord cost there - a high cleaning fees seems to then attract long term bookings.

After all the costs and depreciation the 20% above long term rental is about right - probably would more upside than downside from this.

Only been going a few months though.

 

May I ask location so I can understand the demand side?

What is the Vacancy rate? Do you have to accept all bookings?

Was you GS new? Our GF is new with a good level of finishes.

 

Ryde Area - most tennants working in the IT area and can walk to work.

Granny Flat is fully booked to 21 August (actually the weekend of 30 June is available).

The agency handles all bookings - only refers unusual ones to us (eg can a dog stay, drums being played when the groom collects the bride for a wedding group).

GF was built finished in early 2013 but was really well done - particularly separation and privacy.

Fully furnished from ex-Meriton Seviced Apartment.

 

Post the link to the GF keen to see how you did it

 

https://abnb.me/U9Lshf4PyM

 

really? didn't know there are so many IT workers around in the Ryde area? Where do they walk to work and why are they renting short term?

 

Personally I don't think its worth it unless you are getting twice the long term rent. I agree with @thatbum that location is very important.

 

Macquarie Park is pretty much the IT hub for Sydney - all the big firms are there.

Mostly they are overseas contractors that come over for a project - they tend to refer places on among themselves.