OVER 44,000 ENTIRE HOMES TO BE LISTED ON AIRBNB IN SYDNEY FOLLOWING THE NSW GOVERNMENT’S RESPONSE

MadeComfy welcomes the announcement by the NSW Government that it supports short-term letting in NSW. It provides a needed clear direction from which home owners and property investors can continue to let their property on platforms such as Airbnb.

With 24,000[1] entire home listings on Airbnb at the end of 2016 and a year-on-year growth of 85%[2], MadeComfy expects the growth of Airbnb listings to remain at the current pace for the coming year, which indicates 44,000 entire home Airbnb listings in Sydney by the end of 2017. From the recent NSW Government announcement around short-term rentals, MadeComfy believes that the Airbnb market will not likely to see an influx of owners listing on the booking platform, but rather take confidence they can continue to do so with more clarity around their rights and responsibilities. The assessment also takes into account that of Sydney’s almost 2 million properties, only 1.2% have been listed on Airbnb at some stage, suggesting there is still room for growth, however, represents only a small proportion of Sydney’s rental market[3].

MadeComfy was founded to provide a professional short-term rental management service in Sydney. Demand for MadeComfy’s service arising from home owners and property investors who were both time poor and didn’t have the ability to be available to provide the hospitality guests now expect when booking a property through Airbnb. MadeComfy therefore manages the process of hosting to look after the home and guests, so they can enjoy a hassle-free income.

Sabrina Bethunin, co-founder, said “This support by the NSW Government will hopefully result in  short-term rentals being a viable option for every homeowner without fear of legal or financial penalties”.

“In addition to that, with the median property price in Sydney having reached over 1 million dollars, households are dedicating an average of 44 per cent of their income to service their mortgages[4]. It means Sydneysiders are considered under ‘mortgage stress’ as they are devoting more than 30 per cent of their income to mortgage repayments. Either by renting a spare room or the whole property when it’s not utilised, for many homeowners, Airbnb and similar platforms provide a means to obtain an income to help cover their mortgage repayments or afford their holidays” she added.

Following last week’s announcement MadeComfy also looks forward to partnering with building strata managers to provide the professional support needed to mitigate the concerns voiced by the Owners Corporation Network (OCN). A key concern of the OCN was the harmony of guests and residents within shared building environments. MadeComfy seeks to address these issues through its guest screening process prior to accepting a booking, as well as enforcing strict house rules such as a no party policy and maximum occupant numbers. With these checks in place, MadeComfy’s service is designed to mitigate against any unruly guest behaviour, providing strata managers and residents with confidence short-term rentals will be managed without negative effects in their building.

For all parties concerned, MadeComfy views this announcement to be an encouraging step for the regulation of short-term rentals in NSW. It provides a response that supports our own figures, with 70 per cent of MadeComfy’s customers being home owners who use the service to manage their property whilst on holidays. Able to deliver 40 percent more than self-managed Airbnb listings, MadeComfy looks forward to helping home owners, property investors and strata managers alike tap into the short-term rental market to optimise their rental returns and maintain the security of their properties.              

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.

https://madecomfy.com.au/