• Written by Helen Hull

The rise of short-term letting and accommodation services like Airbnb and Stayz sees many property owners looking at ways they can earn extra income from their principal residence.

Di Jones Head of Investment Management Bridgette Barker said with increases in the cost of living any owner of a property can tap into these services to help with rising expenses. “While people are taking up the opportunity, less than 1 per cent of our rental roll has decided to put their homes onto the short-term market in the past 12 months,” Ms Barker said.

“Both of those apartments were located at Bondi Beach where huge money can be made in Spring and Summer. One owner was renting for $800 per week, but through a short-term rental site he was getting three times as much.

“We also have some owners who are going to short-term rental of their property for six months while they head overseas and will then return it back to Di Jones to manage.”

Ms Barker noted that there has been an increase demand in the past 12 months from people who have been burnt by the short-term rental market.

“Major damage and noise which has upset neighbours has been a cause of concern for some owners utilising short-term rentals,” Ms Barker said.

“They do have a place in real estate, but it is not for everyone. If you do decide to use Airbnb or Stayz, I believe you have to be heavily involved in the management of the property – and if you live nearby, you have more control over the management.

“Owners should also be mindful of their insurance obligations and the legislation that relates to the type of accommodation they are entering into if they can’t get someone out,” she said.

Ms Barker added that the recent changes to strata laws have opened an opportunity for those living in apartments to tap into short-term rentals. 

“Owners are revising their by-laws, which in many cases currently restrict rental leases to a minimum of three months.

“There’s now a good opportunity for executive committees to change their by-laws to reflect the popularity of these sites. While many apartment owners may not be using the services at the moment, amending by-laws to allow short-term rentals means that they can set the tone for their apartment block in the future.

“Airbnb and Stayz are not going away. Guidelines are now in place to protect both parties and it is important that owners, particularly of strata accommodation, are across their rights and responsibilities,” Ms Barker said.


Independent Parliamentary Budget Office exposes Shorten's lies

Bill Shorten's false claims about so-called insecure work lie in tatters today, following an analysis published by the independent Parliamentary Budget Office (PBO).  The PBO’s independent analysis...

Union demands paint a bleak future under Shorten

It’s time for Bill Shorten to come clean and rule out extreme changes to Australia’s industrial relations laws that would wind the clock back to the strike-torn Whitlam era.   As the ACTU prepares...

Doorstop at AKD Sawmill with Trevor Ruthenberg, LNP Candidate for Longman

MR TREVOR RUTHENBERG, LNP CANDIDATE FOR LONGMAN: Well morning folks. Welcome to Caboolture, welcome to Longman. This is a fantastic day for local jobs. This is a fantastic day for our community. ...

Business News

Top Tips if You’re Thinking About Quitting Your Day Job and Starting a Small Business

Are you fed up with working for another person and long to be your own boss? Do you think you’d like to take over a local business that’s up for sale? Would you like to make your hobby into somethin...

What is the best structure to use when starting up a business

Coco Hou, tax specialist and accountant, has shared her advice for people who are starting up their own businesses, setting up side gigs, or moving into consultancy work. The start of the new financ...

Leading Employment Firm in WA 2018

Only a certain few start their careers as the boss. For most of us, we get employed by companies and in most cases, we never really find the need to hire employment lawyers. But if we do, hiring an ...


Adina Apartment Hotel Brisbane

TFE Hotels has opened the doors of the spectacular new Adina Apartment Hotel Brisbane, which offers stunning views over the Brisbane River and awe-inspiring interiors that transport guests back to t...

Winter In Rotorua: Things To Do

While many travelers consider the summer months to be the prime traveling season, there are thousands and thousands of travelers who love to take to their campervan hire australia journeys when the ...

Discover Hong Kong Your Way With Ecruising

From July – November 2018, Ecruising in partnership with Hong Kong Tourism and Royal Caribbean, including Azamara and Celebrity Cruises are offering travellers new and exclusive cruising itinerari...

You might also like