Ever thought about renting out your investment property – or your home – for the holidays? It’s an increasingly popular option for investors looking to maximise the revenue from their property portfolio. Your Investment Property speaks to Stayz to discover more.
Purchasing property to derive rental income is a long-established investment tradition for many Australians. But there are an increasingly diverse number of options beyond simple long-term rental to capitalise on these investments. One of the most popular to emerge in recent years has been leasing to holidaymakers.
But what’s the best way to find guests? How can you guarantee the safety of your property and yourself? Will the “rent” be paid on time?
This is where Stayz comes in.
Beginning life as a small, local website promoting holiday properties in 2001, Stayz has grown to become one of Australia’s foremost names in short-term accommodation. With more than 50,000 properties domestically, Stayz allows guests to search and compare a wide variety of holiday rentals across the country.
For Marketing Manager Simone Scoppa, Stayz is a logical fit for owners who are looking to lease out their houses on a short-term basis.
“We put your home in front of a global network of millions of travellers from 190 countries, all of them looking for the perfect holiday home,” says Scoppa. “From humble beachside shacks to country abodes, guests can find unique accommodation options for every taste and budget.”
Depending on the location of your property, it may be possible to charge the regular (i.e. permanent) monthly rent for just a one-week holiday stay. Leasing your property for only 12 weeks a year as a holiday rental could potentially generate the same investment as a permanent tenant. “Any additional weeks simply increases your return and the property is still available for you to enjoy for your own holidays,” says Scoppa.
Currently, the top 5 destinations by monetary return per listing are:
1. Noosa, QLD
2. Busselton, WA
3. Yorke Peninsula, SA
4. Cessnock, NSW
5. Central Coast, NSW
How does Stayz help?
Property owners who register with Stayz get access to everything they need to rent their property for the first time, including:
• An exclusive set of tools to optimise pricing, bookings and communication
• Educational materials on how to market to high-quality travellers
• $1M Liability Insurance cover for bookings accepted on the platform
• 24/7 customer support
“We also have a number of features to give property owners assurance around their guests,” says Scoppa. “Before making a booking, travellers have to accept the House Rules of the property – that gives you the option to include clauses like no parties, or noise after 10pm. Rental agreements can be signed and damage deposits are taken.”
Traveller profiles are available for owners to view, and guests are rated on their behaviour after staying in a property. The vast majority of bookings through Stayz come from families that are looking for a relaxing getaway. Additionally, in comparison to other short-term rental websites, bookings through Stayz are made further in advance and for more nights.
For the last 18 or so months, Kathryn has had three properties advertised on Stayz for holidaymakers. Based in Sydney, Kathryn discovered Stayz several years ago when she was looking for a place to stay while on holiday.
“I initially came to Stayz through being a customer,” says Kathryn. “I was really impressed with their website, and then the way the holiday experience came together afterwards.”
Owning a number of investment properties, Kathryn realised that short-term leases and temporary holiday stays would enable her to more effectively capitalise on her investments than long-term tenants. But with the era of the traditional, plaque-on-the-gate bed and breakfast gradually falling out of favour – not to mention the overhead costs it could have presented – Stayz was the logical starting point.
Since then, she’s never looked back.
“It’s pretty amazing how your calendar fills up,” says Kathryn. “There’s such a volume of people out there, so you can set your own strategy. If you want to be fully occupied all the time, that’s quite possible, but you can also scale back and just have occasional guests too.”
Beyond the in-built marketing provided by the Stayz website, there’s been a strong peace of mind aspect to the arrangement, says Kathryn.
“There’s a professionalism and integrity for host and guest,” says Kathryn. “Just a few years ago, I wouldn’t have thought about opening my home up to strangers – but it’s very much a safe space platform.”
Aside from the increased income vs full-time tenants, there have been a number of benefits from an investment perspective too. Having more frequent access to the premises enables more effective cleaning, maintenance, improvements and renovations, allowing the property to be maintained to a higher standard.
“You have more visibility and flexibility,” says Kathryn. “And for me personally, it’s been a great tool for getting the most out of my property.”
Interested to see how much you could earn?
Receive an instant estimate of your property’s rental potential based on nearby comparable rentals at stayz.com.au