Airbnb Market 2024: A Spotlight

in AIRBNB, Uncategorised

Are you curious about the Airbnb market in 2024? Perhaps you’re an Airbnb host, and you’re wondering about the global state of the platform. Or perhaps you’re just interested in companies, capital and international markets. Whatever the case, this article will shine a spotlight on the Airbnb market in the current day. We’ll cover some interesting statistics and figures about this market, so you’ll be fully informed by the time you’ve finished reading. So, continue to learn more about this interesting topic.

 

Overall Statistics

 

First, let’s begin with some overall statistics as of this year. Across the globe, there are over 5 million Airbnb hosts and over 7.6 million currently active listings on the accommodation platform. Over 100,000 cities around the world have current Airbnb listings within them. There are more than 150 million global users of the platform, and between them, they have booked 1.5 billion stays. This is a staggering figure.

 

Six guests check into an Airbnb location every single second of each day. Every moment there are also people checking out as well. 

 

In terms of average cost, in North America, the cost of a stay is approximately USD $163 a night, and most guests stay for around 4.3 nights per booking. Here is an interesting Airbnb app use statistic: it takes a user around 11 minutes and a half to book a stay on the app.

 

Airbnb is best used as a passive income stream, as the average host earns around $13,800 USD per annum from their property listed on the platform. Some people host full-time if they have enough properties to sustain a regular income from the platform.

 

The company is currently valued at $113 billion, which is a staggering amount. The platform currently has over 20% market share of the holiday rental industry worldwide, competing with hotels and other accommodation providers. 

 

Global Listings

 

Some of these statistics are older than 2024 but are still interesting to explore. Globally, in 2021, there were 12.7 million listings on the platform. This is down slightly from the previous year when there were 14.3 million listings. That’s an over 210% reduction from one year to the next.

 

In terms of continental regions, Europe has the most listings, with over 4 million in 2021. Closely following is the Asia Pacific region, with over 3 million listings. Next is North America, with around 2.5 million listings, and next is Latin America, with around 1.7 million listings. Africa is the continent with the lowest listings, with only around 367,000. 

 

Global Demand

 

Now, let’s discuss the global demand for Airbnb listings. Demand is calculated by the total number of nights guests stay in each region per year. In 2021, there was an increase of 42% or so from 2020, with around 251 million total nights stayed across Airbnb properties during that year. That figure increased in 2022, with around 393 million nights stayed, which is a 31% increase from 2021. The global demand is highest in Europe and lowest in Africa, with North America and the Asia Pacific region making up the middle band. 

Gross Revenue

 

The global gross (total, before expenses) revenue from Airbnb locations rose from 27 billion in 2020 to nearly 29 billion in 2021, a huge increase of over 76%. This time, North America came out on top, with an over 10 billion increase, due to the fact that North American listings tend to cost more. However, Latin America experienced the biggest increase by pure percentage growth, rising over 80% in gross revenue. 

 

Airbnb Commission Revenue

 

The platform earns a commission fee on each listing, which is how the company remains profitable. Airbnb’s revenue from its listings almost doubled worldwide from 3.88 billion to 6.85 billion from 2020 to 2021. In 2024, the company’s revenue was over 15 billion, which is over double again from 2021. 

North America is Airbnb’s biggest growth region, and Europe follows closely behind. Together, these two regions make up over 80% of the company’s total revenue.

 

Airbnb Market Overview

 

As the above statistics have demonstrated, Airbnb is a global titan in the short-stay accommodation space, especially in areas like Melbourne which see a considerable amount of tourism year-round. The company’s unique business model, which means it owns none of the properties and instead allows hosts to earn money while the company takes a commission, is a savvy one. Similar companies exist in other markets, such as rideshare and food delivery platforms. The company has grown in the last few years, with more listings available, bigger revenue and increased stays. The current Airbnb market is healthy and is likely to grow year on year.

 

A Short Stay Summary

 

This informative article covers the 2024 Airbnb market, with some interesting statistics from prior years also discussed. The market is booming, and the platform is also a great opportunity for property owners to earn passive income or a full-time income stream for hosts with multiple properties. 

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If you’re interested in putting your property on Airbnb, but want some professional assistance in getting your property noticed in the crowd, Oasis Stay is here to help. To learn more, contact our Airbnb hosting team today.

Airbnb Vs Renting in Melbourne: Which is Best For Your Property?

in AIRBNB, Uncategorised, Uncategorized

For those who own property in Melbourne, you know how difficult it is to get on the market. With high sale prices and mortgages to pay, it’s natural that many Melbournians would be looking to see how they can make a bit of their money back. For this, there tend to be two specific viable options that come into play:

  1. Short-term rentals
  2. Long-term rentals

Although similar in name, these two can be incredibly different in terms of how they work in practice, and how much they can make you over the long haul. So if you’re considering going the Airbnb route, or you’re wondering if it might be time to put your property on the long-term market, we have a few things for you to consider before making a final decision.

Potential Australian Rental Income

Naturally, this is one that we need to check off first. According to various estimates from sites such as Hospitable and GrowHost, claims put the average Australian Airbnb rental income at anywhere from $3000 to $4500. Meanwhile, a Forbes piece from this year placed the average monthly long-term rental cost at approximately $2600. So, if we’re looking at broad numbers Airbnb rentals tend to come out on top. However, there are a few caveats that come into that on both sides.

Rental Fees

Naturally, there are going to be fees associated with both of these options, with Airbnb taking a portion of your income, and you needing to pay fees as a landlord for a long-term rental. So, when it comes to final numbers, both are going to come out lower.

Prime Real Estate

Once again this is going to be a relevant factor for both options, although one must consider that the ideal area for Airbnb may be different to the ideal area for a long-term tenant. Take, for example, a small apartment in the heart of Melbourne’s CBD. Looking at the long-term rentals for this area, average weekly rental prices are approximately $300-$350 per week. There has been a lot of discussion about the relative affordability of apartments in this space given that they are at the heart of the city, but there are factors to consider such as the lack of land, the small overall blueprint of apartments, not to mention factors like noise pollution making them less desirable for many couples and families.

Meanwhile, looking at Airbnb, we can see relatively similar apartments going for more than double that price. This is because, for tourists and those visiting the city, many of the issues associated with long-term renting in the area simply do not apply. This is especially compounded when you have an Airbnb property manager in Melbourne who can actively work to get you a better yield on your property.

Time of Year

For some areas, one reason that people will look for long-term rental options is consistency. Surfer’s Paradise, for example, will have more visitors in the Summer, followed by more of a lull in Winter, which will, in turn, impact the Airbnb market. That’s why it’s important to have good representation in an Airbnb manager, as having an expert on it will help you to navigate the market and ensure the best rental yield for each part of the year.

Occupancy

All of the above assumes that the traditional rental in question has a tenant. However, this isn’t always the case. Whilst Airbnb properties may have times in which there are fewer tenants, this is generally quite temporary and still allows for income. In cases where a long-term rental is left vacant, no money is being made back on the property, and that vacancy is often going to last a lot longer than that of an Airbnb.

Responsibilities of a Rental Owner

This is something that often gets glossed over for long-term rental management, but as a landlord, you have a lot of obligations to the tenants who are staying with you. Damage, wear and tear, and other issues can easily arise from the day-to-day use of a space, and if you have a tenant who has handled your property poorly, you may be incurring a lot more payments than you initially bargained for.

Airbnb, despite seeming like it would have similar issues, does offer some protections that the larger rental market does not. Airbnb allows you a reimbursement process for any damages caused to your property. Additionally, if anyone is found to be detrimental to property owners, they will be removed from the app, so chances are anyone who would be staying at your property will at least be someone who is still allowed to use Airbnb.

With that said, there is still a lot of work that goes into maintaining an Airbnb, such as housekeeping, house maintenance, photography and more that all go into keeping an Airbnb viable and profitable on the market. That’s why companies like Oasis Stay exist, providing Airbnb properties in Melbourne and beyond with a complete Airbnb experience.

Final Conclusions: Which is Better?

It’s always naturally going to be up to the individual, but there are some things that we can take from the above:

  • On average, Airbnb properties in Australia broadly earn more than traditional rental properties.
  • Traditional rental properties have more consistency than Airbnb properties throughout the seasons, but only if they have consistent tenants.
  • Look at who your area and real estate appeals to, as different areas will be more profitable for each option.

Want to Learn More?

If you’re looking to get more out of your investment property, or even just want to earn some extra money at times when you’re not using the house, contact Oasis Stay today. As one of the leading Airbnb property management services in Melbourne, we support homeowners across Brunswick, Fitzroy, Chadstone, and beyond!

Is Melbourne A Good Area For Airbnb Hosting?

in AIRBNB, AIRBNB HOSTING TIPS, Uncategorised, Uncategorized

When we think of Airbnb, we often think of the big tourist destinations in the country, and for good reason. With millions of people yearly travelling for business and pleasure to Australia’s major hubs such as the Gold Coast, Melbourne, and Sydney, the widest pool of visitors means the most chances that someone will be looking for an Airbnb. However, with all of those travellers also comes a hefty amount of competition, with a wealth of property owners all trying to take that top spot as the space’s leading host. Given this, property investors who are looking to get their proverbial foot in the door need to be careful about selecting the right area to buy property, and it’s important to have all the facts before making that final decision.

Melbourne As An Airbnb Hosting Market

This is what brings Melbourne into the conversation. Over our time working as one of the best Airbnb hosting companies in Melbourne, we at Oasis Stay have spent a lot of time speaking with property owners about the pros and cons of the space when it comes to short-stay rental management. This can be seen in some of our previous blogs interviewing Airbnb property owners about their experiences, as well as our perfect Airbnb hosting guides written by real Airbnb hosts. All that goes to say that we have spent a lot of time thinking about the Airbnb hosting market in Melbourne and whether it’s a good fit for those looking to enter the space.

Naturally, whilst it may give the game away a little bit, it’s important to note that Melbourne is one of our best and brightest cities for Australian Airbnb management for a reason. Over the course of our many years of experience, we’ve simply found Melbourne to be one of the most resilient and varied markets for Airbnb hosting, and in this article, it’s my hope that we can detail some of the reasons that Melbourne, a city known for its high property costs in a country that is considered a highly desirable property market overall, is still considered to be one of the best for Airbnb hosts.

Is Airbnb Legal in Melbourne?

Yes, it absolutely is legal to have Airbnb properties in Melbourne. According to numbers from The Guardian, there are approximately 23,185 Airbnbs in greater Melbourne alone. That is a lot of people who have decided that it’s a good idea to book out their properties for short-stay rental purposes!

How Much Can You Earn From Airbnb in Victoria?

This is a number that can vary wildly depending on location, property, and overall conditions. However, according to Airbnb’s own internal statistics, Your average host would earn over $31,000 from Airbnb annually. With that said, there is a very sizeable difference from those on the lower end and those who are earning a lot more. There are also many ways for owners to improve their rental yield, such as working with an Airbnb hosting and management company like Oasis Stay. Contact us today if you’d like to learn more.

Is Melbourne’s Airbnb Market Prone to Growth?

If we suppose the past decade is anything to go by then yes absolutely. For example, there was an approximate 50% increase in Airbnb properties in Melbourne between 2017 and 2020. These numbers have remained stable after some disruptions during the lockdowns that Melbourne experienced in 2021-2022, and it has continued to be a great market for those investing.

Is Melbourne A Good Area For Airbnb Hosting?

What Makes Melbourne Good For Airbnb?

As we discussed earlier, most Airbnb cities that we look at are tourist destinations. Whilst Melbourne is certainly that, with a rich culture, beautiful architecture, and one of the largest shopping centres in the Southern Hemisphere in the form of Chadstone, that’s not the only drawcard that Melbourne has to offer. Melbourne, and Victoria as a whole, is Australia’s second largest tourist destination, with tourists spending an annual approximate amount of $36.1 billion in the financial year ending in June of 2023.

This breaks down into many different drawcards, from the Central Business District bringing in business people from across the globe to the natural vistas of Victoria to Australia’s abundance of world-class hospitals, universities, and more. The fact is that Melbourne is a cornucopia of delights that will likely always be on the must-visit list of many people from across the globe. It’s no wonder that it has been able to maintain its place in the top 3 most livable cities in the world.

The Best of Both Worlds, A Conclusion

With Melbourne offering a fantastic opportunity for business travel, tourism, world-class medical treatment, education and more, it’s safe to say that its appeal as an Airbnb hosting hotspot isn’t going anywhere any time soon. So, if you’re interested in putting your property on Airbnb, but want some professional assistance in getting your property noticed in the crowd, Oasis Stay is here to help. To learn more, contact our Airbnb hosting team today.

What Tips Do Airbnb Property Owners Have For Successful Short-Stay Management?

in AIRBNB, AIRBNB HOSTING TIPS, Uncategorised

Airbnb has taken the world by storm. At any one time, there are over seven million Airbnb properties listed in over 100,000 cities and 220 countries.

These figures are hardly surprising when one compares the benefits of hosting to other investments – the flexibility of being able to use your property when you want, Airbnb’s insurance coverage and property protection services and the ability to adjust pricing to exploit peak periods are just a few of the advantages Airbnb hosting offers.

We asked Superhost Ian Harris, who has managed an Airbnb in Queensland’s Gold Coast region since 2016, for some tips on how new hosts can position their properties for success, build a brand and deliver a satisfying Airbnb experience with every single booking.

What Tips Do Airbnb Property Owners Have For Successful Short-Stay Management?

Power of presentation

Initially, Ian recalls, he and his wife tried to manage their Airbnb listing themselves but soon became overwhelmed.

“We both had full-time jobs so trying to wash linen, vacuum and maintain the property was just not viable,” he said. 

“A full-service management company like Oasis Stay literally takes the stress out of hosting an Airbnb. I wish we had known about it earlier because, in the early days, we got a bad review just because a guest found a chocolate wrapper under the couch. Small oversights like that can have a huge impact on your Airbnb profile. We leave it to the professionals now!”

What Tips Do Airbnb Property Owners Have For Successful Short-Stay Management?

Stand out from the competition

According to Ian, the key to attracting guests is to make your listing pop.  “When we first started hosting, we quickly learned the lesson that our online Airbnb listing was the key factor in attracting guests. Comparable properties in our location were consistently booked out and we realised that we were letting ourselves down by not adequately highlighting our home’s best features.”

“Our property is surrounded by transport options, walking distance to restaurants and entertainment, and it also has ramp access, which is perfect for wheelchairs or people with mobility issues, so we promote these amenities. We have since added other unique selling points like a Tesla fast charger.”

“We also discovered the power of having professional photos taken to showcase the property and make it stand out from the competition.” 

Oasis Stay understands the importance of showing properties off to the best advantage which is why we offer Airbnb photography and staging services. These services complement our housekeeping, property management and maintenance services to ensure our hosts are getting the most benefit from their listing.

What Tips Do Airbnb Property Owners Have For Successful Short-Stay Management?

Extra touches

Whether your property is at the high end of the market or a more modest home, supplying extras above the basic necessities can go a long way to increasing guest satisfaction.

Simple and affordable luxuries such as toiletries, quality towels and linen, a chocolate on the pillow, are remembered and appreciated by guests and are the little extras that encourage return custom.

“We find that guests really appreciate our welcome pack which includes thoughtful things like instructions on how to turn on the TV and Wi-Fi,” Ian explained. “The pack includes a short note wishing them a comfortable stay and also provides emergency phone numbers so we can respond to any issues before they become negative feedback.”

“This really paid off when a water pipe broke and started leaking water during a guest’s stay. Fortunately, we were able to respond quickly to avoid any disruption to their stay. Our guests understood that accidents happen and appreciated our responsiveness, giving us kudos for our commitment to ensure their comfort in their feedback.”

Pricing

Whilst money is important to most hosts, Ian stresses that it shouldn’t be the biggest driver. “There is no point in pricing yourself out of competition for a few dollars,” he says. “It is better to price your listing just below the competition and stay fully booked rather than sit vacant, even for a night. We offer significant discounts for guests staying a week or longer as this reduces the need for cleaning and maintenance costs, so it is a win-win situation.”

Feedback and Reviews

Ultimately, what guests say about you, your communication and your property will be the best (or worst) advertisement for future guests.

By focusing on these areas, you can create a successful and rewarding Airbnb hosting experience that generates positive reviews, enhances the chance of return visits, drives bookings and boosts your hosting income.

Oasis Stay is the industry expert in Airbnb property. As Ian says, “We could spend our energies and time cleaning and maintaining our Airbnb but that just wouldn’t make good economical sense. We can just build the cost of these into our pricing and leave the hard work to Oasis Stay. They take care of the property management, housekeeping and maintenance whilst we sit back knowing that our property is in good hands.”

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Airbnb hosting can be a time-intensive and difficult process if you’re handling it on your own, so why not let the experts help? With Airbnb hosting management in Melbourne, Hobart, and the majority of Australia’s most popular areas, Oasis Stay is here to assist you. If you are interested in finding out more about Oasis Stay’s Airbnb property management and maintenance services, give us a call on 0401 832 431 or drop us a line to [email protected].

 

The Ultimate Guide to Becoming a Successful Airbnb Host

in AIRBNB, AIRBNB HOSTING TIPS, Uncategorised

Airbnb has become increasingly popular with investors and property owners seeking to generate an income from a vacant property, and for good reason. Airbnb offers a more lucrative rental yield than long-term tenancies, particularly in popular tourist locations. This is unsurprising as short-stay guests look for an alternative to expensive hotel rooms which offer no self-catering or laundry options and far less space.

An increasing number of homeowners are drawn to host an Airbnb due to its flexibility, allowing them to continue using their property by blocking out dates when it is unavailable. 

Whilst setting up an Airbnb is a straightforward process, Oasis Stay property management offers a wide range of services to assist in getting the most out of your Airbnb experience. If you are considering becoming an Airbnb host in Melbourne, Sydney, Brisbane, Hobart, Morning Peninsula or one of Queensland’s Airbnb hotspots like the Gold Coast and Surfers Paradise regions, Oasis Stay have the expertise to put you on the road to success.

Is setting up an Airbnb difficult?

Fear of the unknown may prevent some people from considering putting their homes on Airbnb, but with the help of an experienced Airbnb management provider, the process is quite simple: 

  1. Create an Airbnb account
  2. Secure property management
  3. Prepare the property
  4. Upload photos and details
  5. Manage calendar availability
  6. Go live

Setting up an Airbnb account

Anyone who has created an account for eBay, a bank account or an online shop will be familiar with the process of creating an Airbnb account. As with many of these, an identity verification process must be followed to protect the integrity of your account. It is highly recommended that users also download the Airbnb app so they can respond quickly to property requests as they come in. Users will also need to fill out a range of personal information including bank account details for receiving payments. 

Property management

Airbnb operates on a feedback rating system, similar to eBay. Guests will apply to you for the use of your home, outlining how many guests they are booking for and why they want to stay. Hosts are able to check past guest reviews to verify they are suitable before approving their applications.

Many Airbnb hosts start their journey managing their property themselves only to realise guest expectations for property presentation are beyond their ability to deliver. A single piece of paper left under a sofa can result in a negative review, which in turn can impact the interest in your property. Laundering linen, making beds and scrubbing showers can be time-consuming and onerous – quickly becoming a drain to hosts.

Securing a professional Australian property management service with local resources, like Oasis Stay, is the ideal way to market and maintain your property. They will provide scrupulous cleaning and presentation to ensure guests are delighted with your property and secure return business. The cost of property maintenance can be offset by the one-off cleaning fee which can be included in your Airbnb quote.

Property preparation and presentation

Guests visiting your property will expect all the amenities of the home including all kitchenware, laundry items, iron and ironing board, hair dryer and coat hangers. Your home should be free from all personal items – bare cupboards in bedrooms and bathrooms. For safety, all scissors and other dangerous items should be stored in high cupboards. There should be at least two sets of linen for each bed and towels for every guest. Generally, Airbnb charges per bed, so installing locks on bedroom doors avoids the prospect of one guest booking but six staying… 

Simple things like a framed note on the kitchen table welcoming people to your home and giving them instructions on how to turn things on/off will be highly appreciated. Leave unopened sample packs of soap, shampoo and conditioner, as these simple touches make guests feel special. In the kitchen set aside an area with UHT milk, packets of sugar, tea and coffee. A coffee machine with a few complimentary pods is always appreciated. Use sugar sachets as they are more hygienic and avoid attracting ants.

A key lockbox with a code is a handy way to manage access to your home. A message can be sent to guests with the combination code and the code can be updated by Oasis Stay property managers at the end of each stay to ensure the security of the property is not compromised.

Airbnb styling and photography

It is likely your property may be competing against several similar properties in your area. Professional styling and photography are highly recommended to make your property stand out from the competition. Oasis Stay offers expert styling and photography services to ensure your property looks its best, both to attract guests and to achieve the best possible income. We will highlight the features that make your property special or unique, as these are highly prized by Airbnb guests.

Setting a price for your Airbnb listing

It can be a good idea to compare your property to similar homes in your location and, at least initially, slightly undercut their nightly rate. This is helpful when first hosting without reviews, allowing you to build your reputation and become a Superhost. Consider offering discounts for long-term stays of weeks or months. Long-term guests avoid regular cleaning and maintenance costs and are highly valued by hosts.

Managing the Airbnb guest calendar

Many hosts limit bookings to a two-night minimum to reduce the turnover of guests and leave an afternoon or day in between bookings to allow time for cleaning. When reviewing your Airbnb calendar, block off days or weeks when you may wish to use the property yourself.

Let’s talk  

If you are looking to take the next step as an Airbnb host, contact Oasis Stay today to discuss our full range of professional services. We take the stress out of Airbnb property management and our personalised housekeeping and maintenance services along with specialised photography and styling can be the key to making your foray into Airbnb hosting satisfying, successful and financially rewarding.

Airbnb Income: Why Hosting With Airbnb Makes Solid Financial Sense

in AIRBNB, AIRBNB HOSTING TIPS, Uncategorised, Uncategorized

With the latest round of interest rate rises negatively impacting property investors in the hip pocket, it is unsurprising many are now turning to Airbnb to increase their rental yield. In popular tourist areas such as the Gold Coast, Sunshine Coast or Melbourne’s Mornington Peninsula and major capital cities like Sydney, Melbourne, Brisbane and Hobart, investors can realise the same income in two or three days with, for example, Melbourne Airbnb management, that they would normally expect to receive in a week with a long-term tenant. 

Unlike long-term tenancies, Airbnb offers hosts the transparency to personally vet guests. Airbnb also offers the security of $1 million insurance which covers a range of scenarios including injury, damage and theft.

Oasis Stay recognises the major investment hosts have in their homes and provides secure, reliable and professional Airbnb property management and housekeeping services so owners enjoy a ‘set and forget’ income.

Is my property suitable for Airbnb?

This is a question many property owners ask. Almost every type of property is suitable for Airbnb, as it aims to cater to the full spectrum of guest budgets. Airbnb stays must offer all the amenities one would expect in a home including access to clean, functioning kitchen and toilet facilities, and private, secure sleeping accommodation.

Many Airbnb hosts have a single room in a house or apartment to let for short-term stays. Naturally, whole homes and apartments are the more popular options for families and those seeking privacy.

At the other end of the scale, many Airbnb hosts are concerned that the significant investment they have made in their home may be at risk from rowdy or negligent guests. Airbnb has a feedback rating system to address these concerns and ensure that the host has the final approval of all guests who intend to stay at their property. Hosts can read through past reviews and ask potential guests questions about their intended stay prior to making a final decision.

Hosts have an option to include a one-off cleaning fee component in the pricing which can be costed to include property management and housekeeping charges. This can mean caretaking of the property becomes cost-neutral.

How to create a secure, comfortable retirement using Airbnb 

Let’s do some number crunching to compare the income generated through long-term rental as opposed to Airbnb in a popular location such as Broadbeach in Queensland. Using realestate.com.au as a guide, a long-term tenancy for a one-bedroom apartment can expect a rental yield of around $590 per week in this location. Annual expenses on this property will likely include exorbitant body corporate fees of upwards of $300 per week, making the rental yield comparatively small. 

Compare this to a similar property rented nightly through Airbnb which would attract a return of approximately $210 per night – bringing in more than the long-term rental in only three nights!

Furthermore, Airbnb’s calendar allows hosts to block out periods of time when they can use the property for a vacation or allow friends and family to stay – perfect.

Is managing an Airbnb property hard?

Cleaning and maintaining an Airbnb is demanding and time-consuming, as guests expect every level of property to be immaculate, regardless of their budget. Using a professional property management service like Oasis Stay takes the guesswork out of being an Airbnb host. Our local operators deliver full-service property management including maintenance and housekeeping. We can even assist with property styling and photography!

Contact the team at Oasis Stay today and let’s start the conversation that can lead you to a secure financial future through Airbnb hosting.

Queensland Airbnb Guide: What Makes QLD the Perfect Airbnb Destination?

in AIRBNB, AIRBNB HOSTING TIPS

Ah, Queensland. Beautiful one day, profitable the next. 

What comes to mind when you think of Queensland? Perhaps the pristine beaches, Great Barrier Reef, lush rainforests, natural wildlife or the year-round sunshine. Whatever it is, Queensland has the lot. It is no wonder then that it is one of Australia’s top destinations for local and overseas tourists – the perfect Airbnb destination that can be a property investor’s key to a secure, stress-free future. 

As a leading provider of Airbnb management services in Queensland, let’s take a deep dive into why hosting an Airbnb property in Queensland makes good financial sense.

Number Crunching

Consider this – every year approximately 27 million domestic and international visitors flock to the Sunshine State. In fact, Queensland is one of the top three states in Australia where visitors spend most of their time. Furthermore, according to Airbnb statistics, four Queensland cities – Sunshine Coast, Gold Coast, Cairns and Brisbane are in the top 10 list of the most profitable locations to run an Airbnb in the whole country!

Coastal cities north and south of Brisbane are significantly cheaper to purchase an investment property than either Sydney or Melbourne yet with far greater abundance of attractions. Numbers don’t lie – coastal property in Queensland translates to significant returns on investment.

Benefits of Airbnb

Before considering leasing out your property, it may be wise to take the time to analyse the pros and cons of short versus long-term leasing of your Queensland property. 

On the long-term rental market, the average 3-bedroom home on the Gold Coast is fetching between $500 and $600 per week. During peak periods that same home may yield that return in just one or two days with Airbnb!

An added bonus is that, unlike permanent rentals, with Airbnb your property is available to use whenever you want – just block out the days, weeks or even months on your Airbnb calendar when you want to take up residence.

Irresistible Attractions

The beauty of Queensland is that there are so many attractions to make your property desirable. Some of the most popular sought-after areas are around the Gold Coast, Sunshine Coast and Surfers Paradise where tourists and visitors are drawn to the stunning beaches, world-class shopping and vibrant nightlife.

It is no surprise that the magic expanse between the Gold Coast and the Sunshine Coast has become a mecca for local and interstate buyers looking for strong returns on their property investment. 

Gold Coast

With its myriad of five-star hotels and seminar venues, the Gold Coast has become the conference capital of Australia. With Airbnb operating on seasonal peaks and trough pricing, the Gold Coast is a goldmine of peak pricing for hosts. The demand for accommodation for popular events can see the overflow extend in a wide arc into the surrounding suburbs. 

The Gold Coast is also home to the best theme parks in Australia including Warner Bros. Movie World, Sea World and Wet ’n’ Wild. For Airbnb hosts, this area is a goldmine as families with children seek accommodation that can house their children and provide cooking facilities, to save on the crippling cost of eating out every night.

Surfers Paradise

We can’t talk about the Gold Coast without mentioning the iconic Surfers Paradise. As the Gold Coast’s tourist hub, Surfers Paradise attracts over 4 million visitors per year – a magnet to bronzed, barefoot wave worshippers drawn from across Australia and around the world. Many Southerners, from Melbourne and Sydney have invested in the magnificent apartment blocks which dot the horizon down the coast. Tenanted only for short periods throughout the year by the owners, furnished and with all the amenities in place, these apartments are ripe to be utilised as Airbnb accommodation.

Being an Airbnb host can also mitigate any body corporate fees that are a hidden cost all apartment complex owners must pay on an ongoing basis. Setting up your property to pay for itself just makes good logical sense.

Where to Now?

If you are thinking about investing in an Airbnb property in Queensland or you already have a property available – rather than rent it, why not Airbnb it? With exceptional property management specialists like Oasis Stay, Airbnb hosts can have a ‘set and forget’ high-yield investment. With all the benefits of Airbnb plainly evident, finding a management service that prioritises your home and protects your investment, is the first step. At Oasis Property Management we are here to take the guesswork out of Airbnb hosting. Contact us today to discuss what we can do for you.

How to Start A Vacation Rental Business?

in AIRBNB

Vacation rental business is the freshly baked cake on the menu these days which everyone wants to grab a taste of. It is one of the few highly booming industries these days and does hold immense potential.

However, before you set foot in this business, it is imperative to understand how it works, the efforts needed to do the groundwork, and what you can expect of it in the long run.

Understanding a vacation rental business:

Vacation rental is nothing but handing out properties on rent to families or groups of people on vacation. This drastically different from staying in a hotel and comes with plenty of added benefits that one would expect to find in a home.

Access to local culture, having one’s own kitchen, back and front yards, pools, and ample privacy are a few of the perks of staying in a rented home on vacation. A vacation rental business involves handling such homes and renting them out to clients.

It also includes the acquisition of such properties, dealing with homeowners, ensuring the privacy and safety of clients while on their stay in addition to maintaining and marketing your business.

How can one start a rental business?

Starting any sort of business is not the most important or difficult part. The real challenge lies in willing to put the consistent work needed and doing everything in your power to make it run.

Speaking of the vacation rental business, there are broadly two ways which you can go about:

RENTING OUT YOUR OWN PROPERTIES:

If you intend to purchase your own property before handing it out on rent, there is considerable work to be done. You need to analyze which locations are the hot-spot for a steady flow of guests in addition to landing the best price while purchasing and renting out your property.

RENTING OUT AND MANAGING OTHERS’ PROPERTIES:

This is a comparatively easier option, especially if you’re new to this business and want to gain enough momentum before you purchase your own property. The challenge here is to assure homeowners to place their trust in you with their property and for you to fetch the best deals and on-going clients for them.

Once you decide how you want to go about it, the rest of the work pretty much boils down to this: Acquiring clients. Here are the 4 major aspects your need to consider to attract the best clients:

  1. Location:

Seasonality:

If you want to churn consistent profits all year long, go for evergreen locations in trendy, urban areas that attract families on vacation any time of the year.

If you intend to be a little relaxed in your approach willing to address clients a few months of the year while dedicating the rest of the time to growing and building your brand, you can opt for remote locations. These appeal to tourists only in certain specific seasons of the year.

Choose your location as per your drive to run your business and profit will flow accordingly.

Demand:

It is important that your vacation rental draws clients in. ensure you choose a location with plenty of tourist attractions and popular spots so that clients are willing to drop in and stay at your site.

Supply:

Try standing out from the rest of the mediocre short-term rentals available everywhere. Maybe opt for a villa or an apartment that very few others are providing so that you can attract the best deals.

  1. Pricing:

As far the pricing is concerned, the best way is to find that sweet spot of the accurate pricing based on how the demand for that particular season is. Raise your lower your prices as per the seasons so that you maximize your profits all year long.

The vacation rental business is quite promising drawing well over $80 million in revenue in 2019 alone. True that your income will fluctuate depending on the kind of property you rent, the service you provide, and the location you’re in. However, implementing the right techniques can cause your business to skyrocket in the long run.

  1. Personnel:

In order to gain momentum, leveraging your business is a must. However, you need to pay close attention to the staff you hire to maintain the property and attend to clients in your absence. A capable and reliable team providing assistance with managerial duties is what you need. A mistake here can mean the difference between making or breaking your business.

  1. Technology:

Make use of a reliable software to handle bookings from guests, managing your team, delivering top-notch service, gaining feedback, and so on. You can even design custom guidebooks through a designated software and hand them out to clients to make a long-lasting and professional impression.

How do you proceed?

Now that you have the above-mentioned aspects covered, it is time to pitch your proposals to homeowners in the areas that you intend to work in. If you’re a homeowner yourself, nothing like it. With the latest techniques and technology within your business, you can very well make a strong impression that you mean serious business and are here to stay.

This also assures the homeowners that you’ll work towards maximizing their returns. When they see that you can cash in on their properties for the best, it’ll draw them to do business with you.

Summing it up:

Like any other business, starting and building a vacation rental business takes time and plenty of effort to make it look like an overnight success. All you need to do stay consistent with the right tactics to make your business work and very soon you’ll witness a huge surge of rewards coming your way!

Why the Mornington Peninsula is the Perfect Place For Airbnbs

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What creates the ideal Airbnb location? This is a question that is quite difficult to answer, but one that is essential for property investors looking to get the most out of their property. The simple fact is that Airbnb trends are constantly changing, and what may be an incredibly desirable feature at one point in time may not always be quite as sought after by potential short-stay tenants. So, when you’re looking for signs that an area is ideal for short-stay accommodation, it’s important to try and find the features and elements that are always in demand, and that’s where the Mornington Peninsula comes in.

As one of Australia’s premier tourist destinations, the Mornington Peninsula has maintained a reputation as the ideal spot for a stunning getaway, both with locals and international visitors alike. The picturesque ocean views mixed with a decadent selection of fine dining options and much, much more have allowed this singular area to maintain a heavy flow of visitors looking for short-stay accommodation, a fact that will come as no surprise to anyone who has ever had the good fortune of experiencing it for themselves.

So, whether you’re a property owner in the Mornington Peninsula weighing their options with the short-stay rental market or a property investor looking for their next big income stream, let’s take a closer look at what this incredible vista has to offer.

Why the Mornington Peninsula is the Perfect Place For Airbnbs

Property Spotlight: The Great Entertainer

It’s not hard to find successful Airbnb properties in the area, but as a provider of Airbnb Management for the Mornington Peninsula, we thought it would be best to look at one that is in our care. After all, at Oasis Stay, we pride ourselves on providing visitors and owners alike with service that exceeds their expectations for quality and care. So, if we’re showing off the benefits that a Mornington Peninsula short-stay rental property can offer, it’s best that we put our money where our mouth is.

The Great Entertainer is a three-bedroom, three-bathroom full-house rental property in the heart of Rye, one of the Mornington Peninsula’s more popular getaway towns. This solid-built coastal home boasts a luxurious pool, a spa, ample outdoor space and stunning interiors, whilst also being within walking distance of the Peninsula’s many sights, sounds and scenic views. Maintaining a consistent flow of visitors and a near-perfect 4.96 rating, it’s clear that visitors have adored their experience:

Why the Mornington Peninsula is the Perfect Place For Airbnbs
Why the Mornington Peninsula is the Perfect Place For Airbnbs
Why the Mornington Peninsula is the Perfect Place For Airbnbs

So, Why is the Mornington Peninsula So Popular For Airbnb?

Located just one hour from Melbourne, the Mornington Peninsula offers the best of both worlds in a lot of ways. Close enough to the major cities whilst still providing a secluded, luxurious coastal experience, it is the perfect place for those that want the joys of travel, without the hassle that comes with long-distance drives. Not only that, but for those who are looking to experience a large number of activities or locales in a short amount of time, the Mornington Peninsula is as varied as it is beautiful.

From the geothermal springs creating a thriving industry of spa and relaxation options to the wealth of wineries and world-class restaurants making use of the deliciously fresh local produce, it’s easy to find yourself overwhelmed with the number of choices at your doorstep. If you find yourself drawn more towards the local art and culture, then the Mornington Peninsula’s thriving galleries and sculpture parks are sure to help you scratch that itch. Whether you’re a family, a couple, a group of friends, or simply travelling alone, the Mornington Peninsula has something for everyone.

Airbnbs in 2020-21

For many who rely on Airbnb for their income, the lockdowns and travel bans imposed due to COVID-19 restrictions led to an incredibly uncertain time. These new conditions were unprecedented, and it was very difficult for experts to provide any direction or forecasts of how this would impact owners in different areas. However, whilst many areas did see their short-term rental markets take an enormous hit with the lack of international travellers, the Mornington Peninsula fared very favourably due to an enormous increase in domestic travellers from areas like Melbourne. Without the ability to travel abroad, people set their sites inward, and what better place for a domestic getaway than the ever-iconic Melbourne Peninsula? This trend continues now, and can be seen in our extremely high booking rates during the final quarter of 2021:

Why the Mornington Peninsula is the Perfect Place For Airbnbs

Even in the most difficult of times, Mornington Peninsula property owners have still managed to maintain an impressive income through short-stay rental accommodation options. So, if you’ve been on the fence about whether Mornington Peninsula Airbnb rentals are the right next step, you can rest assured knowing that the trends continue to be in your favour.

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So, are you ready to work with the Mornington Peninsula Airbnb specialists? Offering a responsive local team of property rental experts, as well as professional cleaning, photography and maintenance services, Oasis Stay can handle each and every part of your Airbnb experience. We also offer Airbnb Management for Melbourne and other major Australian cities, so contact us today to find out what we can do for you.

What Makes Melbourne an Ideal Airbnb Location?

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Melbourne is an absolutely incredible place when you think about it. Offering stunning vistas, bustling business centres and a thriving community of artists, designers and artisans rarely rivalled in the world, it’s truly a special place. With that said, when global property investors are thinking of buying for the purposes of short-stay rentals, Melbourne, Australia may not necessarily be on their radar as a top pick.

This is by n means to say that Melbourne isn’t successful in terms of Airbnb usage and acquisition, quite the contrary; it simply means that there are a lot of people that don’t know what makes Melbourne an ideal Airbnb location. As an Airbnb property management service in Melbourne and the Greater Melbourne area, we at Oasis Stay have a lot of love for this area. We live here, we work here, and we know better than most what makes it so unequivocally desirable.

So, let’s take a quick look at the world of Airbnbs in Melbourne, and see what makes this such a perfect combination.

What Makes Melbourne an Ideal Airbnb Location?

As anyone who has had the pleasure of walking through Melbourne’s Central Business District will know, the city is an enormous hub for businesses from across the globe. Brands from America, England, China, Japan and more all come together in the heart of Melbourne to grow their businesses and make their names known. Because of this, Melbourne receives a considerable number of international travellers, all of which need nice places to rest and relax in their free hours.

From startups to some of the world’s largest brands, businesses are constantly drawn to Melbourne’s shores, and this makes Airbnb ownership in Melbourne incredibly lucrative. Not only does this provide a wealth of new potential short-stay renters every day to promote your Airbnb property to, but given that many businesses will be paying for their employees to stay in the area, their budgets will often be quite a bit higher than your usual traveller. In other words, it’s a perfect place for the owner and the visitor alike.

Stunning Surrounds

Unlike some areas in which all of the fun and excitement tends to be centralised to a few specific hubs, Australia’s stunning vistas, serene nature and beautiful architecture all come together to make for a beautiful trip no matter what you’re looking for. Because of this, some areas of Greater Melbourne that are a little further out will still get a lot of visitors and interest simply because they still offer a lovely, soothing experience. From the beautiful beaches of the Mornington Peninsula to the scenic suburban life of Brighton, Melbourne’s stunningly varied offerings have something for everyone, even if your Airbnb property isn’t a short walk from the CBD.

What Makes Melbourne an Ideal Airbnb Location?

Events, Events, Events

Outside of the standard business and family reasons, one of the primary signifiers that a boom in Airbnb demand is about to occur is a big event. So, naturally, any area that is constantly hosting large events is going to have a lot of opportunities to entice national and international visitors. For that, there are few better places than Melbourne, one of Australia’s biggest areas for events, shows, gigs, performances, and more! From Formula 1 to Melbourne’s very own White Night Festival (which will be held in three regional Victorian locations for its 2022 incarnation), Melbourne is practically always hosting something to draw in the crowds. So, as long as you can stand out from the crowd, preferably with a certain impeccable Melbourne Airbnb management service, there will always be opportunities to get bookings.

 

What Makes Melbourne an Ideal Airbnb Location?

Australia in general is always going to draw in the crowds with its coastal destinations, theme parks, natural landscapes, arts, culture and more. However, even in this truly unique country, Melbourne still has something special to offer. That’s why Melbourne is known as the cultural capital, the coffee capital, and even the fashion capital. These accolades are certainly earned, and they bring in more and more visitors every year to see why Melbourne is so magnificent.

So, are you ready to take on the Melbourne Airbnb mantle and start getting more from your property? Speak with one of the property management specialists at Oasis Stay today.