Explore the difference between long-term and short-term property rentals in Randwick with The BNB Agency
What’s the difference between long-term and short-term property rentals in Randwick? And how does Airbnb property management come in? The BNB Agency will help you understand this and maximise your returns.
To understand the potential of your property, let’s look at Randwick’s long-term rental market. Units here yield an average of 3.7% with a weekly rent of $730. Houses, on the other hand, yield 2.4% with a weekly rent of $1,350.
Impressive, right? But don’t limit yourself to traditional property rental. With Airbnb property management, you can significantly boost these numbers. How? By turning your property into an Airbnb rental.
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The potential and profitability of Airbnb management in Randwick are on the rise. This is due to a high demand for short-term rentals, shown by a 73% occupancy rate. Each Airbnb property in Randwick can earn an average daily rate of $270.8, leading to a significant annual revenue of $72.1K. This represents an impressive increase in annual income by $58,018.4, or 89.9%.
For example, renting out a 1-2 bedroom unit in Randwick traditionally brings in around $37,960 per year. This significant difference is due to factors like higher rates on Airbnb and increased occupancy during peak months, especially in the summer (December to February) when Randwick’s beachside location attracts more visitors.
More than 80% of Airbnb listings in Randwick are one to two-bedroom apartments, indicating strong demand for these types of properties. For example, renting out a 1-2 bedroom unit in Randwick traditionally brings in around $37,960 per year. However, listing the same property on Airbnb can generate an impressive $72.1K annually, resulting in an 89.9% increase in income.
This significant difference is due to factors like higher rates on Airbnb and increased occupancy during peak months, especially in the summer (December to February) when Randwick’s beachside location attracts more visitors. Larger properties have the potential to bring in higher returns, making them ideal for hosts looking to maximise income.
If you own a property in Randwick, particularly a 1-2 bedroom apartment, considering Airbnb as a rental platform could be a financially rewarding decision.
Long term property rental with tenant vs. short term property rental
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That’s an 89% increase in annual income.
Randwick’s Airbnb properties offer a great investment opportunity with an average daily rate of $270.8. The occupancy rate peaks at 80.3% in February and from August to December, allowing hosts to maximise their rental income.
This surge is due to Randwick’s appealing climate and attractions, such as the tranquil Clovelly Beach, which attracts many tourists during the dry spring season (September – November).
Effective Airbnb property management, including offering quality short-term accommodation and catering to guests’ needs, makes your property their preferred choice in Randwick.
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Experience Hassle-Free Hosting & Maximise Profits with The BNB Agency!
We provide an all-inclusive Airbnb property management service specifically designed for property owners in Randwick, Sydney, who are looking to maximise their earnings from short-term rental properties.
Our expert team utilises 20+ years of digital marketing experience to ensure your property gets the highest booking rate on the Airbnb platform and other rental sites. Our dynamic pricing strategies and proven track record showcase our ability to secure more bookings at better prices.
We believe a premium guest experience starts when a potential guest discovers your property. Our team manages all guest communications, from initial inquiries to check-ins and check-outs, ensuring your guests receive the best possible service.
As your property manager in Randwick, we handle all aspects of property maintenance, allowing you to enjoy the highest returns without any hassle. Our services are designed to make your life easier while increasing your income.
Choose The BNB Agency as your partner in Airbnb hosting. With our expert team, proven strategies, and comprehensive services, we ensure that our clients get the most out of their properties.
Absolutely. Investing in a Randwick property for short-term rentals is a wise decision. Randwick is a sought-after suburb in Sydney’s Eastern Suburbs, Australia. Its strategic location near the city centre and coastline make it highly appealing for short-term rentals. The area experiences high demand due to its closeness to major tourist hotspots like the Sydney CBD and the stunning beaches of the Eastern Suburbs, promising a potentially lucrative return on investment.
The average cost of a property in Randwick, Sydney, varies by property type. As of the latest data, the median price for units ranges from $780,000 for a 1-bedroom to $1.825 million for a 3-bedroom. For houses, the median prices are significantly higher, ranging from $1.97 million for a 2-bedroom to $4.465 million for a 5-bedroom property. The overall median price for houses is currently $3,189,500
Randwick is a standout suburb in Sydney for short-term rentals. It offers a unique blend of city and beach vibes, attracting a diverse range of visitors. With a high occupancy rate of 73% and an average daily rate of $270.8 for Airbnb properties, it proves to be more profitable for Airbnb management compared to long-term rentals. Property owners in the Airbnb market can potentially increase their annual income by 89.9%, making Randwick a highly lucrative option.
Managing an Airbnb property in Randwick can be made simpler and more efficient with the help of professional management services like ours at BNB Agency. We take care of every aspect of your Airbnb property, allowing you to focus on your other commitments.
Yes, you certainly can. Your investment property in Randwick can become a profitable Airbnb venture, provided your strata allows short-term rentals. The BNB Agency, with our experienced team of Airbnb managers, is here to transform your property into a high-return investment. We manage everything – from marketing your property and handling Airbnb operations to taking care of maintenance and repairs. So, yes, your Randwick investment property has great potential with an occupancy rate of 73%.
The BNB Agency offers a comprehensive range of property management services aimed at maximising your property’s earning potential. Our service includes:
With our end-to-end solution, we simplify the process of property management in Randwick, helping you extract the best return on your property investment.
Absolutely! The BNB Agency is equipped to manage multiple short-term rentals. Listing more than one property with us could potentially increase your returns. Whether you have one or several Airbnb properties in Sydney, we’re ready to help you maximise your earnings.
If you’re an Airbnb host seeking to outsource in Randwick looking at the management process, you’re in the right place. Simply contact us by filling out this form or calling us at 1300 070 943. We’re here to assist you!
While Airbnb leads the short-term rental market, other platforms like Vrbo, Booking.com, Expedia, and Vacasa are also popular. Depending on your specific requirements and target audience, platforms like Homestay.com, Atraveo, and Agoda Homes could also be suitable.
As an Airbnb Property Management Company in Randwick, The BNB Agency provides a seamless solution. We transform you from a host to a stress-free property owner. Our expert team handles everything – from strategic marketing to maximising bookings, giving you the freedom to enjoy a thriving rental business without the daily operational hassle.
As an Airbnb Property Management Company in Randwick, The BNB Agency provides a seamless solution. We transform you from a host to a stress-free property owner. Our expert team handles everything – from strategic marketing to maximising bookings, giving you the freedom to enjoy a thriving rental business without the daily operational hassle.
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