The Undiscovered Peak Times to Nearly Double Your Rent on Airbnb

An analysis undertaken by MadeComfy, a property management start-up that manages the process of hosting on Airbnb from start-to-finish on the behalf of owners, has revealed that just like the hotel industry, the nightly rate of Airbnb properties can increase by up to 88 per cent during major events or holiday periods.

With Sydney now ranked 8^th in the world for the number of listings on Airbnb, many Sydney-siders are aware of the opportunity to make an extra income from renting out their homes on Airbnb over the Christmas and New Year’s period whilst travelling, however, MadeComfy has uncovered three other key times during the year in Sydney that owners could make significant returns.

Based upon the data and analysis undertaken by MadeComfy, owners have the potential to make an additional 88 per cent rent on a normal short-term booking during Mardi Gras and an extra 35 per cent from renting out their homes over Easter.

1. Mardi Gras, 4 – 5 March: In 2016, over 20,000 international visitors arrived in Sydney to witness the world-renown Mardi Gras parade, spiking demand for accommodation significantly during the first weekend of March.

Accordingly, based on bookings MadeComfy has already taken, a 2-bedroom apartment in Darlinghurst during Mardi Gras is earning $434 per night, which is $203 more per night than compared to bookings taken either side of the parade. This equates to a total of $609 more for the owner from a 3-night booking. Further, by utilising MadeComfy’s expertise, their service has achieved an average of 27 per cent more rental income for their customers compared against other self-managed properties listed on Airbnb over Mardi Gras.

2. Easter, 14 – 17 April: Similarly, over the Easter break, MadeComfy’s analysis has found families who are planning to go on holiday could earn an extra 35 per cent by renting out their home during this period. The increasing demand from locals taking ‘staycations’ and booking accommodation within their own city to experience the lifestyle and culture a different suburb has to offer is fuelling this demand. While the influx of inter-state and overseas travellers looking for accommodation in Sydney during the Easter break increases significantly.

Based on bookings MadeComfy has already taken for Easter, a 4-bedroom home in Pittwater is able to command $887 per night, which is $226 more per night compared to other bookings outside this period, giving the owner an extra $904 for the 4-night booking. Comparing the nightly rates of similar self-managed properties in the Pittwater region during Easter, MadeComfy’s marketing efforts have resulted in a 51 per cent higher booking price for this owner.

3. Vivid Festival, 26 May – 17 June: A new and emerging period which owners could also reap larger returns is as a result of the growing popularity of Sydney’s Vivid Festival. In 2016, the Festival recorded its largest attendance yet, with 2.3 million visitors. With its growing notoriety, a larger proportion of visitors are travelling from inter-state and rural NSW areas to see the stunning displays projected on to iconic Sydney landmarks.

MadeComfy has already taken several bookings during the Vivid Festival, with a 3-bedroom home in Neutral Bay booked for $268 per night, whereas outside this period it can be booked for $200 per night. A 34 per cent increase in rent per night for the owner.

The analysis was undertaken by MadeComfy utilising their analytical pricing algorithms that measure the supply of other short-term rentals and hotel rooms in a local area against booking demand between specific dates. This then enables MadeComfy to determine the optimum price to list their properties, to ensure the maximum occupancy and rental income for the owners they manage their homes on behalf.

For further media information or comment please contact:
Tim Medway – PR and Marketing Executive
Phone: 0415 202 969    Email: tim@madecomfy.com.au

ABOUT MADECOMFY

MadeComfy is a short-term property management specialist committed to providing property owners with the highest quality, hassle-free, hosting service in the market.  Based in Birchgrove in Sydney’s Inner West, MadeComfy manages a large, growing number of homes across Sydney, from executive apartments, family homes to luxury properties.

MadeComfy provides an end-to-end management service, which means property owners don’t need to do a thing when they hand over their keys. With significant investment into operation systems, owners can rest assured that MadeComfy’s dynamic pricing and centralised booking platforms will provide them with the highest returns and maximised booking occupancy. MadeComfy also ensures that the experience is first-class for guests, providing a welcome pack and house manual at check-in, 5-star linen, 24/7 support to guests and cleaners after every stay. MadeComfy provides the professional help to make the process of hosting effortless whilst property owners earn the rental income.

For more information about our business, visit: https://madecomfy.com.au/