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SHORT TERM LETTING
What is short-term letting?
A fully furnished property that can be rented out on a short term or long-term basis using our experienced short term rental partners.
This type of property is typically used for temporary accommodation by travellers, tourists, or individuals seeking short stays, usually ranging from a single night to several weeks.
While the majority property investors purchase these types of properties specifically for short-term letting to maximise their rental income it is not uncommon for investors to let them out short-term during the peak period for 6 months and then long-term during the off-season. This will all depend on the location and type of property you purchase.
When purchasing a short-term let property it is important to consider the legal and regulatory risks.
Local Council Regulations: In Australia, the regulation of short-term rental properties varies by state, territory, and local government area (LGA). Some councils have specific rules regarding the operation of short-term rentals, including registration, zoning restrictions, and limits on the number of days a property can be rented out each year.
Strata Rules: For properties in apartment buildings or strata complexes, there may be additional regulations imposed by the body corporate, such as restrictions on short-term rentals or requirements for obtaining permission.
Insurance: Property owners are typically encouraged to have appropriate insurance to cover potential risks associated with hosting guests, including liability and damage to the property.
Not all short-term rental properties are profitable with location being one of the main considerations determining this.
Tourist Destinations: Short term rentals are particularly popular in major tourist destinations such as Sydney, Melbourne, Brisbane, the Gold Coast, and coastal areas.
Urban Centers: Short-term rentals are also common in urban centres, where travellers may seek accommodation close to city attractions, business districts, or universities.
Why Invest in a short-term rental?
Investing in a short-term rental have several advantages over traditional residential property including:
High Demand: There is a strong demand for short-term rentals in key locations where there is a shortage of existing hotels accommodation or where travellers want a more local experience.
Low Entry Price: Short-term rentals have a low entry price starting from $300,000 making it one of the most affordable investment properties in Australia.
Suitable for SMSF: Due to a number of key factors such as low price, high yield and a single purchase contract these may be an ideal investment for your self managed super fund depending on you investment strategy.
Flexibility: Having a fully furnished property means you can rent it our short-term to maximise income during the peak period and get additional rent over an unfurnished property during the off-season.
Attractive Returns: Strong rental yields up to 2 times a traditional residential property making short-term rental a viable option for a positive cashflow property.
Personal Use: You can book your property online for personal use whenever you want, and you only need to pay the cleaning fee. However, you need to keep in mind that you may be forgoing income particularly during the peak season.
Why use The Property Room?
We have strong experience in finding and managing short-term rental properties in numerous locations in Australia and overseas.
Developers: We have extensive relationships with property developers in short-term rental hotspots that comply with council regulation and body corporate strata rules.
Property Types: We understand the property types and configurations that travellers are looking for on short-term letting platforms.
Furniture Package: We will arrange a furniture package for your property through our team of furniture stylists so that your property will stand out on short-term rental platforms.
Maximise Your Income: Rent short-term to maximise your income during the peak period so your property becomes positive cashflow.
Property Managers: We have strong relationships with short-term rental managers that can rent your property out short-term and long-term with the highest possible occupancy while maintaining the optimal room rate per night.
