Long term Airbnb rental – The Benefits
For most investors, the idea that their property can be rented out for a longer term on Airbnb isn’t something on their radar. Sure, short term Airbnb rental is understood, but the benefits of long term Airbnb rental aren’t often considered.
But there are some huge advantages to long term Airbnb rental you need to know.
Benefit 1: Locking down the quieter months
As you know, it can be a long, cold winter. The peak time for Airbnb short term rentals is undisputedly Summer. Already at HomeHost we’re finding the December/January period is filling up faster than ever.
In a highly competitive landscape, it’s important to make sure that you prepare for these peak periods and have security during the quieter months. This is why, for many of our clients, securing a longer term tenant during the middle of the year can have its advantages.
Our long term Airbnb rentals often work out to be anywhere from 3 – 6 months, giving our clients a great, steady income stream during quieter mid year periods. If a tenant is looking for a longer period we can negotiate with them to get you the best possible rates. Remember too that partnering with HomeHost takes the stress away from managing your property directly. We are licensed Real Estate Agents and will handle everything from sourcing and vetting your tenant through to maintenance and statements. The idea is to let you sit back and relax.
Benefit 2: Flexible pricing
By incorporating a long term tenant into your income mix, you are still able to benefit from pricing flexibility at peak times.
Airbnb tenants looking for long term rentals are often more willing to pay a premium rent due to the fact that your property and your hosting standards have already been proven. The positive reviews you have on your listing and your status as a SuperHost mean that they can be sure yours is a quality property, unlike those which may be listed through your traditional residential leasing mechanisms.
All of our properties are listed on the Airbnb Plus programme, giving prospective guests the complete piece of mind that your home is well managed and lives up to their expectations.
Research has shown that over 73% of guests are prepared to pay a higher premium for homes within the Airbnb Plus umbrella.
Benefit 3: Significant Financial Incentives
Depending on the length of your long term rental, you may be able to claim significant deductions and expenses on your property. Of course too, the actual rental will represent an addition to your family’s income, perhaps even enabling a holiday of your own!
As you’re probably aware, anything over a 6 month tenancy requires a lease with the Real Estate Institute of NSW. This means, of course that even though you have income rolling in from the long term rental, you are still permitted your 180 days of short term rental during those peak priced seasons under NSW regulations. At HomeHost, we see this as a win-win.
Benefit 4: Inbuilt Marketing
Bringing together both the benefits of long term Airbnb rental and the more traditional short term model, you’re in a position of maximising the income potential of your property by minimising costs.
Listing your property on Airbnb Plus means that you have a constant marketing mechanism. We make sure your listing is sophisticated, tailored and speaks directly to the type of guest you’re looking to attract – whether it is a contract business traveller, a family with their own home under renovation or a couple in between homes, we will work through finding the right long term tenant for your property without advertising costs each time a vacancy hits.
Benefit 5: The ability to relax
We all know that many investors are savvy enough to outsource the short term Airbnb rental of their home. At HomeHost our business is based on our ability to take care of this for you.
Partnering with us for the long term Airbnb rental of your property is just as wise a decision. Our position in the market means that we can easily manage the whole process for you, leaving you free to enjoy your time and safe in the knowledge that we are across the market in order to secure you the maximum return on your investment.
Speak to us today about how long term Airbnb rental can work for you.