2020 was indeed an extraordinary year – particularly for the travel and rental markets. The landscape for who is renting and why they are has undeniably changed as Australia has closed off for international travel or even interstate travel for most of the year.
But the property market is undeniably resilient and is building back in different ways, to offer new opportunities for property owners to earn by listing on the short-term rental market. As we head into 2021, we are confident that the rental market will grow back even stronger and it’s never been a better time for you to list your property.
1. Earn a secondary income
According to a 2019 survey, 54% of homeowners have considered renting out their own home as a way of earning more money. And you don’t need a dedicated investment property to do so. Whether it’s a spare room, or your whole property while you’re away on holiday, there’s an opportunity to earn money on a home you already have.
2. Your property is more appealing than you think
Location is everything – or so we once thought. But when domestic travel has been on the rise over the past year and central hotspots are less appealing, this may no longer be true. People are looking to get off the grid – leaving the city behind for regional towns and the properties they can find there.
Moreover, throughout 2020, travellers have preferred Airbnb over hotels. Many have seen it as a safer and more affordable option during this time. And with NSW Fair Trading introducing a new Code of Conduct to protect both property owners and guests and more stringent cleaning protocols, guests can feel greater confidence in Airbnb to continue this competitive edge.
3. Nomads looking for the uniqueness of short-term rentals
Travel may take some time before it’s back to normal – with international travel still far off for many Australians. And as working from home offers greater flexibility for the city-slickers, we’re looking at a growing age of working nomads throughout Australia.
It’s a trend widely documented in the US already as many ditch their city apartments for a more nomadic lifestyle while they work. And no doubt, with Australia the nation of travellers, we’ll be sure to be seeing Aussies take what they can by embracing domestic travel and using short-term rentals to do so.
4. Airbnb shows no signs of slowing down
2020 undeniably put a dent in the rental market and Airbnb saw a 14% dip in listing during the year’s lockdowns and travel restrictions. But as we move beyond this period, we predict that the rental market will return in full force and open up new opportunities to earn via platforms like Airbnb.
When Airbnb finally listed on the stock market at the end of the year, it was clear their stock was slowly rising. And its price has already increased by 146%.
Many shy away from listing their properties on short-term property sites like Airbnb because they don’t know where to start. And that’s where Guest Realty can help.
We personalise our solutions to you, taking all the heavy lifting out and focusing on maximising your returns. We help you navigate the ins and outs of trends and regulations and making sure your property is compliant with the latest codes of conduct. It pays to have someone dedicated to your success so you don’t have to and managing everything from advertising to renter communication, and that’s what we’re dedicated to.
Want to learn more? Get in touch with our expert team now to see what short-term rental could do for you.