Albury Airbnb hosts earned a combined income of $3 million in 2018, but those considering getting in on the action need to prepare for a likely increase in regulations says one border estate agent.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
In 2018 Albury had 330 active listing and the typical income for an Albury host was $10,500 for the year, says the company.
Stean Nicholls director Nicholas Clark said popular short-stay investment properties had good income-potential, but they involved considerable work.
He said it was important to take precautions when renting a property, whether in the short or long term.
“One word of advice I would give anyone considering Airbnb is to be quite involved and active,” he said.
“Try to meet or screen potential clients or at least give a questionnaire.
“Being an off-site manager can be quite hard but you want to know the calibre of people going into your property.”
IN OTHER NEWS:
Airbnb Australia’s country manager Sam McDonagh said Albury Airbnbs hosted more than 26,800 guests in 2018.
“The typical Airbnb host in Albury earned an extra $200 a week in income, which we know helps locals pay the bills or mortgage,” he said.
Mr Clark said a former Airbnb property sold by the agency had an occupancy rate of 70 per cent during its time as a short-stay rental – which showed people were using the region’s Airbnbs.
But, he said, people should be aware more regulations were likely to be placed on Airbnb properties in the future to bring them more in line with other accommodation providers.
“As an investor it’ll probably mean a bit more paperwork to keep on top of,” he said.
Mr Clark believes Airbnb investment would continue to grow, but the retail market was far from being saturated with short-stay rentals.
“Albury isn’t experiencing that extremely strong demand [of coastal areas and major cities],” he said.
“But over the last few years we definitely have had people buying properties around the area to use as potential Airbnb rentals.
“Moving forward I believe it will be a growing trend in the area.”
Receive our daily newsletter straight to your inbox each morning from The Border Mail. Sign up here
Digital journalists with The Border Mail.
Digital journalists with The Border Mail.
