While property prices in Sydney continue to rise, rental yields continue to drop. With Airbnb, we found a proven strategy we’ve used to increase income from your investment properties through short-term leasing. And with it, rental yields have almost doubled over a six-month period.
But that’s not to say that this system works for all locations and property types. Moreover, there remain many advantages to long-term rentals that should not be overlooked.
Here’s how to know what works for you:
Pros of a Short-Term Rental
- Higher flexibility – rent it out for the vacations or use it for yourself. Short-term rentals allow you to have more control over your property’s availability
- Higher rental yield – our case studies have shown great success in bringing in higher incomes for our clients, along with tax benefits for property owners
- Less wear and tear – a short vacation is going to do less damage than someone who’s gotten a little too comfortable in your place
Cons of a Short Term Rental
- No guaranteed income – occupancy can largely depend on seasonal and other external factors we cannot control
- Greater stress with management – managing guests coming in and out, cleaning, upgrades, checking listings – it can all bit a much (and costly) to handle on your own. But that’s where Guest Realty can help.
Pros of a Long-Term Rental
- Greater stability – you’ve got rental income that you can count on. And with Guest Realty you’ll have extra protection with our rental guarantee
- Less guest turnover and sudden damage – there are less administrative worries and less stress to furnish and maintain the property constantly
- Greater guarantee – there is an opportunity to charge a higher security deposit to cover you if anything goes wrong
Cons of a Long-Term Rental
- Less flexibility – say goodbye to the cheeky weekend you can spend in your property
- Finding the right tenant – like a long-term relationship, you want to make sure you find all the red flags at the beginning and this could take some time and extra hassle
Don’t know where to start?
That’s where Guest Realty comes in. We’re experts in both short-term rentals and long-term stays so that we can find a personalised revenue strategy to each client and their property. Book your introductory call with our team now to find out the potential your property holds.
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