It has been a tough past two years for the travel industry but, as the borders open and visitors return, this is the ideal time for opportunistic investors to get a short-term stay property up and running.
Leasing your home or apartment in Canberra can become a lucrative investment, with the potential of doubling return compared to long-term leasing.
With the highest occupancy rate, but lowest amount of hosts, Canberra provides an opening for new investors. In constant domestic and international demand, the ACT is a hub for business, leisure and education – all an advantage for short-stay accommodation.
Private accommodation has outperformed hotels across 27 global markets during the COVID-19 pandemic, allowing people to avoid crowded lobbies and frequent crossover of foot traffic.
By offering an attractive alternative with already furnished spaces, flexibility of stay, space and privacy, guests gets more choice at private accommodation, whether it be inner city apartments, quaint suburban cottages or regional escapes.
There are also many advantages for owners: a higher price per night, variable rates in seasonal demand, overall flexibility, tax breaks, frequent maintenance and stress-free management options.
While the thought can be overwhelming to do it all yourself, a low-effort, high-return tool such as Guested – a short-term rental management site – basically does all the work for you.
Guested generates on average up to 30 per cent higher returns, and is supported by Independent Property Group to skillfully manage your property. With around 25 combined years of real estate experience, the Guested team applies its driving forces of industry know-how for best results.
Monika Minko, senior leader of property management at Independent Property Group, says Guested is designed to be a set-and-forget system for owners as “the agents will be the ones to take care of the property”.
“Leave it up to them to style, photograph and market your property,” she says.
“Data-driven price optimising for best value, screening for suitable guests, and cleaning and maintenance is all handled by Guested. They take the hassle out of admin, and will organise bookings, key exchanges and provide 24/7 guest support so your phone doesn’t have to ring.”
There are even more perks to this well-oiled machine.
“We also have the ability to pull stats from behind the scenes on revenue forecast, market forecast and occupancy rates, which allows agents and owners to predict future movements and position investment properties in prime spots.”
Guested client relations manager Ioanna Hume highlights the talent of the staff involved in the Guested platform.
“Staff involved in Guested have had lots of experience in the hospitality industry – this gives us an edge,” she says
Airbnb is the short-stay market dominator, with 73 per cent of listed short-term rentals on the top three booking sites – Airbnb, booking.com and Expedia – and Guested covers all of them, as well as Stayz, and are exclusively partnered with Made Comfy, giving owners every chance to get a booking.
Management services brings greater results, too. A management service has shown a far greater monthly return of almost $6000 based on a two-bedroom apartment in central Sydney. This is in comparison to ‘self-managing’ which returns $3500 and ‘managed through Airbnb’, which returns $3700.
Like Benjamin Franklin once said, “an investment in knowledge pays the best interest” – now you have the knowledge, it’s up to you to make the move.
Visit Guested to book a consultation to begin your short-term journey.