To run a successful Airbnb property, you will have to manage bookings, clean the property and deal with any problems that may arise. While you can make more money renting out your property on a short-term basis, there are some cons to the process, such as time spent organising the process. Learn more about the costs of maintaining an investment property here. You’re also able to keep an eye on the property and also manage things like gardens and ongoing maintenance more closely in comparison to a traditional rental agreement. Given that the cost to renters includes a cleaning fee, you actually have the ability to keep your property neat and tidy all year round, given the short-term nature of the renters. While there are some risks by renting out your property, the flip side is that they also exist with long-term tenants as well.
While we sometimes see stories of houses being wrecked after an Airbnb party, it’s fair to say that they are the exception, not the norm.
This flexibility is a great way to either make the most of a property that is vacant for a certain period of the year or even to make some money on a property that you are still living in. Short-term rental platforms allow you to choose when your property is available and allow you to use the property as desired, without having to remove a tenant or arrange furniture on short notice.
Access to Your PropertyĪn often-overlooked advantage of Airbnb is that you can still maintain access to your property should you need it for periods of the year. This potential for higher income is the main reason most people consider renting their homes on a short-term basis.
While this is more than acceptable for many, for those prepared to put in some more work, it’s possible to double or even triple those figures by renting out your property as short-term accommodation on Airbnb. To find Australia's highest yielding suburbs, please click here to download our latest report pack. If you rent your home out in a traditional manner, most properties would generate somewhere between 2 and 5% in rental yield. Running your home or investment property as a short-term rental through Airbnb is a great way to make extra money, but it does come with some downsides that most newcomers often overlook. Over the last few years, AirBnB has become an increasingly popular way for property owners to rent out their homes.
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