Similar to the hotel industry, the nightly rate of Airbnb properties can increase by up to 88% during major events or holiday periods, according to a new analysis from MadeComfy, a Sydney-based short-term property management specialist.
While many Sydneysiders know that they can make additional income from renting out their homes on Airbnb during the Christmas and New Year’s period whilst travelling, the analysis has uncovered other key periods during the year when owners can make significant returns.
Mardi Gras, 4-5 March
Last year, over 20,000 international visitors arrived in Sydney to witness the Mardi Gras parade, spiking demand for accommodation during the first weekend of March.
Based on bookings taken by short-term property management specialist, a two-bedroom apartment in Darlinghurst could earn $434 per night during Mardi Gras, which is $203 more per night compared to bookings taken during either side of the parade. This equates to a total of $609 more for the owner from a three-night booking.
Easter, 14-17 April
Over the Easter break, families planning to go on holiday could earn an additional 35% by renting out their homes. The increased demand comes from locals taking staycations in different suburbs as well as the influx of inter-state and overseas travellers looking for accommodations in Sydney during the Easter break.
Based on bookings taken by MadeComfy during this period, a four-bedroom home in Pittwater could command $887 per night, which is $226 more per night compared to other bookings outside this period, giving the owner an extra $904 for the four-night booking.
NSW legislative report supports short-term rentals on Airbnb
Amid ongoing controversy about short-term rentals in Sydney, the Legislative Assembly Committee on Environment and Planning’s 80-page report on the adequacy of short-term holiday letting regulation came to some stark conclusions.
The report concluded that short-term rental accommodation should be permitted (albeit better defined) in New South Wales. The report further argued that banning short-term rental accommodation was not the best solution to address the problems associated with this type of accommodation; rather, it suggested better regulation and more legislation around home-sharing.
With such influential backing, property owners could soon be renting rooms or their entire property without a blanket ban, which could mean major earnings during major events and holiday periods.
Is Airbnb More Lucrative Than Traditional Rentals?
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