Christie had a property in Perth in an area where there was an over-supply of rentals. After her tenant moved out she listed with an agent yet struggled for over 2 months to even get people coming to view it. She couldn’t afford to go any longer without rental income as it’s what she used to cover the mortgage so decided to give Airbnb a go. She felt she didn’t have any other choice and didn’t live locally to manage it herself.
Our research showed that whilst her suburb had a lot of vacant rentals, it was in a great location for tourists visiting Perth, close to popular Cottesloe Beach and the Fremantle to Perth train line.
We provided her with a list of things to purchase for her property to get it furnished and short-stay market ready (she managed to furnish her 2 bedroom apartment for around $3,000) and within 2 weeks of initially speaking with us she had a furnished property listed on Airbnb and receiving its own bookings, and positive reviews.
In a year when the Perth rental market was declining, she went from having a vacant property (which previously received $978 per month) to a monthly rental income of $1,858) – that’s a lift of 90%.