We recently purchased a two bedroom apartment in St Kilda and decided to list it on Airbnb rather than rent it out "traditionally". By way of background, we Airbnb'd our current PPOR for about 6 months while we waited out our lease and had great success- so we are seeing if we can replicate that (albeit from afar!) We purchased in early December and soon after listed it on Airbnb with some very old photos we found on the internet and a reduced rate (to attract bookings, and given we had crappy photos and no reviews). During December and January we got quite a few bookings and are probably 75% booked through to the end of June. The rate we listed at still allows us to break even/ make a slight profit, even taking into account the furniture and fittings (and is still much better than the return we would get with a traditional rental). We got keys on the 31st January and spent the last week in Melbourne (we live in Sydney), doing some minor renos (painting kitchen cabinets, new bathroom vanity) and driving around Melbourne to pick up our gumtree/ ebay purchases- not to mention countless trips to Ikea/ Kmart/ Target. We also found two cleaners who seem excellent. We have a key solution meaning we don't need anyone to meet our guests. We have set up a webpage, instagram and facebook page to try and attract extra bookings- they are still in early stages but hoping we have some success with those. Our first guest checks in today for 5 days (paying approximately 2x what we would get for one weeks "traditional" rent ), and we have another checking in as soon as they check out. There seems to be quite a bit of interest (both positive and negative) in regards to Airbnb so thought I would post our experience- i'll keep you posted with how it goes! (Oh and if anyone is heading to Melbourne and needs a place to stay, or wants another account to follow on insta, PM me and I can send you the links- not sure if we are allowed to post them here?