by Miriam Bell
It’s not just regular rental properties where there is a shortage of supply. It extends to short-term holiday accommodation too.
Infometrics senior economist Benje Patterson says as tourist numbers continue to swell to record numbers, private peer-to-peer rental accommodation is the way to go.
And that means further embracing of holiday rental booking websites like AirBnB – which can work well for investors keen on improving their returns.
For example, Apartment Specialists director Andrew Murray says the arrival of AirBnB has blown apartments returns back up again.
“Renting out your apartments via AirBnB can mean high profits and good occupancy rates.
“It can really boost an investor’s returns, by close to double, compared to what they can expect renting in the traditional way.”
AirBnB is a brave, new world – one which may seem daunting to many traditional investors, despite its inherent potential.
Hannah McQuilkan recently launched property management service, Manage My Place, which takes care of properties on P2P rental platforms like AirBnB, on behalf of owners.
The company, which she says is the first of its type in New Zealand, will look after everything involved including listings, bookings, guest communication, key exchange, and cleaning.
“It takes all the work, care and worry out of renting properties on AirBnB – and it allows people to make as much money as they can from their investment property.”
Manage My Place is only active in Auckland at the moment, but McQuilkan says she is keen to expand into other areas and is particularly interested in Wellington.
It’s a growth area as more and more people realise the opportunities available for them via services like AirBnB, she says.
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