Just one year after switching their Braddon investment property from traditional leasing to the new Guested short-stay accommodation platform, Ben and Michael are already reaping the financial rewards.
“We have been with Guested since January 2022 and have seen significant returns month on month,” Ben said.
“We are planning to keep our short-stay arrangement, and this will allow us to look at buying another property, knowing we have the security of great returns, and that our team at Guested will keep our property in top shape.”
Independent Property Group’s new end-to-end short-stay management service, Guested, offers investment property owners the opportunity to unlock up to 30 per cent higher returns, while also offering greater flexibility.
Ben and Michael say of the many benefits to listing their property on short-stay platforms, the one they appreciate most is the flexibility.
With a short-term rental it couldn’t be simpler for owners to block out some time for family, friends or themselves to enjoy the property.
“The ability to be able to block out dates for an owner stay, or for us to make any improvements, is just so convenient when we are coming into town or we have family visiting,” Michael said.
“The management and cleaning are completed seamlessly, and it is entirely stress free for us as owners.
“Then, of course, there is the benefit of higher returns each month versus a standard rental agreement.”
Guested offers a digital dashboard where owners can manage and view bookings, and track their performance and returns in real-time.
Ben and Michael found themselves using Guested after exploring different options for their rental property. After speaking to the team at Independent about what they wanted to achieve, they were presented a portfolio of different options, both traditional leasing and short-stay.
“Once we saw the pricing and found out that the cleaning and management was all included with short-stay, we just had to jump at the opportunity,” Ben said.
“The process to set up the apartment was very easy. The team at Guested provided us with all of the requirements that were needed to be in the apartment and guided us through every step.
“And if we require anything to be completed at the apartment, being that we are 250 kilometres away, our client relationship manager has acted swiftly and gone above and beyond to get things done.”
The owners are so happy with Guested that they are frequently recommending it to friends looking for a hassle-free service with a big financial benefit.
“Their personalised approach to our particular situation and the care they take with our property is second to none,” Michael added.
When deciding if short-stay is right for an owner and their property, Independent will crunch the numbers and indicate the potential income that owners can receive.
For example, based on Airbnb figures, a two-bedroom property earning $600 per week as a long-term rental in Canberra could bring in $616 to $734 per week during the low season, $889 to $1059 per week during shoulder season and $1007 to $1199 per week during the high season when managed by Guested.
Based on those figures, the net revenue after management costs could be as high as $41,835 for short-stay, compared to $27,081 for a long-term rental.
Guested manager Ionna Hume says contemporary short-stay accommodation is highly sought-after for people travelling to Canberra for work or play.
“Despite the impact of COVID-19, Canberra’s short-term rental market has remained strong,” Ionna said.
“With the appeal of our strong business sector, significant landmarks and tourism hotspots, visitors to the Capital are only predicted to increase.”
Professional styling, photography and marketing ensure Guested properties will stand out from the crowd. Accommodation is listed on multiple booking platforms including Airbnb, Booking.com and Stayz.
The Guested team will handle everything from bookings and payments to key handover, and there is 24-hour guest support service.
While Canberra houses, apartments and townhouses can all be managed through Guested, properties do need to meet the modern traveller’s needs. The good news is that the team at Independent Property Group can use their knowledge of the Canberra market to recommend the best solution for each property and investor.