Sydney is bursting with short term Airbnb rental potential and experiencing strong growth in tourism with domestic and international visitors both up over 30% since 2014.
Airbnb Sydney rentals are recording a high demand, especially when this world city offers such globally iconic sites such as Bondi Beach and the renowned Sydney Opera House to draw global interest from travellers that Airbnb would also consider their audience.
Airbnb Sydney hosts benefit the most from a constant stream of both international and domestic tourism, being one of Australia's finest tourist destinations.
Sydney's experiencing an increase in property asking prices with unit prices up 4.4% in 12 months & 3 bedroom house prices up 3.9%.
As property asking prices increase, asking rental rates have stagnated, meaning it will be hard for new home buyers to cover their Sydney mortgage with rent.
The result of increasing sale prices and stagnating rental rates. With yields down for houses on average of 15% in the last 3 years and units down 2.6%
With just over 24,000 rentals available and more than 792,000 Airbnb guests per annum, there is still strong demand for this type of rental, reflected in the rental demand rating for Sydney of 71/100.
With tourism up over 30% there are no signs of slowing. The best news for Airbnb hosts is that 45% of domestic visitors choose short term rentals compared with just 4% choosing a hotel!
According to a data site there has been growth of over 50% in listed Airbnb Sydney rentals since 2016, with growth forecast to continue.
Sydney has grown from just over 19,000 listings in Q3 of 2016 to now over 30,000 into this year, the largest market in Australia. Here's some stats that highlight the potential to benefit.
KingsCoin is a professional hosting service for Airbnb Sydney rentals that take all of the work out of it for you.
Renting out your home on Airbnb can be an exciting and profitable adventure, however staying on top of bookings, cleaning and ensuring you provide a high level of customer service can be daunting and take the joy out of renting your property.
That is where we help. As a Airbnb Property Management Company we understand the market and know how to look after your beautiful home and guests.
Let us give you back time and money for making the choice to work with our Airbnb Property Management experts.
Your Airbnb Sydney guests expect impeccably clean properties. Let us help you deliver five star cleaning, laundry and welcoming services for immediate impact on your guest satisfaction.
If you're tired of arranging cleaners or even doing the dirty work yourself, then let us free up your time, whilst helping you make more income - win, win!
The secret to Airbnb property success is grounded in an excellent guest satisfaction strategy. The best Airbnb Property Managers in Sydney know to improve guest satisfaction, firstly you must know and anticipate the types of guests you will receive. Having expert help here will greatly improve your chances of achieving return Airbnb bookings and five-star property reviews. Both of which will improve your search ranking and maximise your investment.
Help is here for the often time consuming administration that is required with Airbnb rentals. KingsCoin offer full customer service admin as well as thorough accounting reporting.
We will also keep you fully informed of all State Government laws and regulations affecting your property, including managing the 180 day policy that applies to all Airbnb hosts within the Greater Sydney region.
Airbnb Sydney property management is now easier than ever.
Taking the Airbnb statistics into account, considering the ongoing tourism growth and rental demand of 72 out of 100 from AirDNA, there is huge potential for Sydney home owners to benefit.
KingsCoin lives and breathes property. We will assist you in delivering high value Airbnb hosting services at an affordable all inclusive management rate of 15%.
Whether you currently own an Airbnb investment property or are considering an Airbnb investment to leverage the lucrative potential of the Airbnb Sydney Market, you can rely on KingsCoin to provide expert help in optimising your listing to maximise returns for your Sydney property.
First step is to say hello, get to know you and your property to fully understand your hosting needs. We will then provide an in-depth property forecast of your income potential with KingsCoin.
It’s an obligation free consultation, where you can make an enquiry without a commitment. If you are action based, and are keen to begin straight away, you can call us now.
Our KingsCoin Sydney management team will schedule an onboarding session with you, to include collating the full details and photos of your property in order to fully communicate the charm to guests. Your guests expect transparency, as do we. So once you are signed up we will register ourselves as your professional co-host on your listing.
We will also send a handyman with two key lockboxes to be installed at your home.
Your job is done. Sit back and relax. Our team will maximise your property's potential, looking after your home as if it was our own.
We work constantly to understand what Sydney guests are looking for, then optimise and manage your listing for more bookings. We will ensure your listing is competitively priced, account for peak events and consider seasonal rates for maximum returns.
Excellent, fast but thoughtful communication
Fast and reliable check in
Clean and presentable properties
Surprisingly helpful local area instructions
Gift baskets - consider including a selection of local produce or a public transport card
Amenities they weren’t expecting - single use toiletries are a fave amongst guests
Helpful offers of public transport directions or even a lift
Want more? Download our Airbnb Success Guide for a step by step guide to Airbnb reviews success.
“Host responsiveness is the single most important determinant of successful Airbnbs. It has been proven to be the largest influencer of booking conversions, Airbnb search placement and overall listing views. Those who can’t respond to all messages within an hour are advised to sign up for an external service to help manage inquiries.”- Courier Mail article
the more experienced hosts increase cleaning fees to cover any instances where a deposit may be required and remove the deposit entirely
Airbnb gives preferential treatment to properties with this feature enabled, meaning more prominence in search results and better performance overall.
start off with a flexible cancellation policy then change it to strict after receiving at least 10 - 5 star reviews. As cancellations can kill your profitability.
Gaining Airbnb Sydney Super Host status is a sought after part of any Airbnb Property Management strategy. Doing so means hard work and commitment to guest satisfaction and host responsiveness particularly.
KingsCoin’s Airbnb Property management team are well versed in what it takes to communicate for Super host success ensuring you swiftly reach this sort after status.
However achieving a Super host badge is just step one, from there it's about utilising your earned title to further optimise your listing for more booking success. Download your copy of our Airbnb Success Guide for more.
Deloitte Australia noted "One of the drivers of Airbnb growth has been creating lower cost accommodation options (to hotels) – we estimate a cost saving of around $26 million in 2015-16 for guests staying in Sydney who might otherwise have stayed in traditional accommodation".
They found that Airbnb listings are, on average, $88 cheaper per night compared to traditional accommodation in central Sydney.
Pair that with the fact that more visitors than ever are seeking rentals rather than hotels due to the unique experience to live like a local and you can see why short term rentals are a growing market.
The estimated average annual revenue for a spare room in Sydney was $18,472, whilst an entire property is closer to $30,000.
This takes into account the 180 day rule, where all Airbnb hosts within Greater Sydney can only rent their property for 180 days a year.
The Courier Mail reported that for a private room Sydney hosts can expect an average annual income of $18,472, whilst houses with 4 bedrooms or more could expect $107,607!
Australia’s most lucrative Airbnb listing was a five-bedroom property at Palm Beach in Sydney, estimated to earn $249,508 a year.
Over Christmas and the Australian summer is a busy time of year for Sydney, however peak revenues for Airbnb hosts usually occur in March with average expected revenue peaking at $3,284 in this month.
All leading properties had one theme in common excellent location. They were close to iconic tourist sites, well known markets, sporting stadiums and more.
The best performing type of property was 2 bed apartments.
Sydney's event calendar is globally renowned, meaning hosts who are aware of the major events in their area can potentially service a global demand.Events that may impact Airbnb rates for hosts include;
NSW Fair Trading passed this recent legislation for Greater Sydney Airbnb hosts;
"New planning laws will allow short-term holiday letting under certain conditions. If the host is present, they can use their home for short-term holiday letting all year round as exempt development. That is, they do not need to submit a development application to local council.
If the host is not present, that residence can be used for short-term holiday letting up to 180 days per year in Greater Sydney, with 365 days allowed in all other areas of New South Wales. Councils outside Greater Sydney will have the power to decrease the 365 day limit to no less than 180 days per year."