My 'short term' rental is going nuts

D

depreciator

It's sort of a spare space that I finished doing a reno on last year. It was a bit indulgent keeping it free for the occasional party and games of table tennis with the kids.
But I didn't want to rent it out full time and lose access to it.
Somebody suggested a site called airbnb.
It seems there is a real scarcity of mid range short term accomodation in Sydney. Plenty of hotels and, at the other end of the scale, hostels. But not much in the middle.
It's averaging returns of over $500 per week - and I thought winter would be quiet.

http://www.airbnb.com/rooms/360141

Scott
 
That is such an awesome place!

I have a few friends who use that site a fair bit. Seems like a really good idea.
 
It's a very clever site. Nothing new about short term accommodation listings on-line, but the functionality of the site is great. They've really headed down the 'community' path. It's miles ahead of Stayzand other sites. They started about 5 years ago, I think. US start-up. They booked 5 million nights of accommodation last year.
 
The blurb is more important than other 'hosts' realize. As is responding really quickly to enquiries.

Half the people who have booked it are Sydney people. Usually it's because they have people coming to town for a wedding or something and don't have the space (or inclination in some cases) to accommodate them. Motels around this part of the world are about $150 per night. I had a Perth couple stay for 9 nights last month. They came to see a new grandchild and didn't fancy being in the same small house as the baby and frazzled new parents.
 
Thank you for this site which is new to me.

And I agree, the blurb is great. Only trouble for us is that hubby has dodgy knees so the steps would be a deal-breaker.
Marg
 
I'm at the mercy of a manager for my holiday lets as I travel a lot, though she does listen to my input. I'm quite involved when I'm home. I honestly don't think there's that much profit in it unless you look after it yourself. That's not enough to stop me travelling though! Your setup is wonderful!

cheers
 
depreciator said:
It's sort of a spare space that I finished doing a reno on last year. It was a bit indulgent keeping it free for the occasional party and games of table tennis with the kids.
But I didn't want to rent it out full time and lose access to it.
Somebody suggested a site called airbnb.
It seems there is a real scarcity of mid range short term accomodation in Sydney. Plenty of hotels and, at the other end of the scale, hostels. But not much in the middle.
It's averaging returns of over $500 per week - and I thought winter would be quiet.

http://www.airbnb.com/rooms/360141

Scott
Click to expand...
Interesting property. Also in Brisbane this market is an interesting one, real demand there for this type of rental and not well supplied.
 
depreciator said:
The blurb is more important than other 'hosts' realize. As is responding really quickly to enquiries.

Half the people who have booked it are Sydney people. Usually it's because they have people coming to town for a wedding or something and don't have the space (or inclination in some cases) to accommodate them. Motels around this part of the world are about $150 per night. I had a Perth couple stay for 9 nights last month. They came to see a new grandchild and didn't fancy being in the same small house as the baby and frazzled new parents.
Click to expand...

Great idea and agreed - BRILLIANT write up!

How long have you owned this property? I went to visit a GF about 5-6years who had moved in with her dad temporarily and this looks very similar! Great layout and very kitch!
 
We've lived at the property for nine years. That space upstairs in the bakery building has been various things over that time. Friends have stayed there, we've had some great big dinners there, the odd exhibition, a book launch, a couple of fashion shoots, and plenty of table tennis. The plan is to still use it for that stuff and let paying guests stay there in between. I didn't think it would take off so well. The $500+ per week is good pocket money for doing nothing except the odd meet and greet. I'm always up for a chat and some of the guests have been interesting. Moving in on Friday is an actor and his 'assistant'. He's doing a feature film in Australia and wants to catch up with an old friend in the area and stay somewhere different.
 
Very nice! Thanks for sharing. My husband has been wanting to take the kids to see Sydney and now I'm finally tempted. Looks so much nicer than the accomodation we had in Ashfield last time we visited.
 
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Thanks for sharing,

I'm not one to plan travel / accommodation in advance and tend to do things on the spur of the moment and this site is ideal for those times for when we just need to get away for the week.
 
I love it! No wonder it's getting lots of bookings. Much nicer to stay in a place with a bit of life to it than a boring hotel room!
 
Have previously considered renting a room out on airbnb myself but wondered about the implication of receiving that style of rental income in a PPOR.
Any thoughts on that?
 
If it's a room you rent out occasionally, it's more like having a border. Especially if you give them access to the kitchen. Your accountant would probably tell you there are no implications.

How does $1000 a week sound, move the art studio to the garage.
Click to expand...

I'm not keen enough on the money. And that's a 95sqm studio pretty packed with stuff. The garage is big - 65sqm - but it wouldn't work. The studio is also a space we all like and use constantly. The upstairs pad is more of an underused spare space and it might as well tip a bit of money into the kitty. I'll declare it and all that.

I love it! No wonder it's getting lots of bookings. Much nicer to stay in a place with a bit of life to it than a boring hotel room!
Click to expand...

I stayed in a boring hotel room on The Gold Coast last night. Next week it will be Melbourne. Then Adelaide and so on. I've looked previously at airbnb for those sort of trips, but most places have a two night minimum. Mine does, too. One night stays would involve too much work. The average stay for my place - though it's early days - is probably 5 nights. The person there at the moment is in Sydney for work. She's in Sydney every second month. I like the idea of getting some regulars interspersed with interesting visitors.
Next month I've got an Aussie astonomer who currently works in Germany coming to stay. She'll be here on an 'observation', which I guess means looking at stuff in the sky - though probably not the sky above Marrickville. Her area of expertise is apparently the properties of molecular clouds in the Large Magellic Cloud and something to do with dust in the interstellar medium. I told my 11 year old that she's going to be able to explain any trickey bits in the Lost in Space DVDs we're currently dipping in and out of.
 
Wow, I have never heard of this site. I agree your blog of your place just sets it miles apart from other, apart from the fact this is a great place. If ever I want to visit Sydney know where I would like to stay :)

Glad to hear you are doing so well from this, and on your time and terms great idea
 
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