How to turn your property into a lucrative Airbnb

For Melbourne-based interior designer Kelly Richardson, helping families bring more income into their homes is a personal mission.

From spare bedrooms to granny flats, studios to garages, Ms Richardson noted: “Many home owners have unused space around the home.”

“As long as you are able to provide safe, secure and comfortable space, then you are able to turn unused rooms into revenue.”

But short-term rentals abound, and creating accommodation that stands out from the crowd is a tough call. According to Ms Richardson, the best way to “squeeze more money out of an Airbnb” is by “creating a premium experience”.

For investors keen on a bargain, Ms Richardson has good news: a luxury look doesn’t require a luxury budget.

“To turn your Airbnb or short-stay accommodation into a premium experience, there are some simple things property owners can do,” Ms Richardson commented.

Colour

A consistent colour palette is a way to instantly give your property an air of intentionality and cohesion. For the most sumptuous look, the designer recommends dark colours: dark bronze, rust, mushroom grey, stone and dark red. Once this base palette is established, she recommends adding “pops of colour where possible throughout to achieve the desired look”.

Statement pieces

Instead of splashing out for every piece of furniture, choose “a couple of statement pieces of furniture to the property to provide a quality designer luxury feel”. She noted that the most dark-coloured statement pieces are the most practical choice for withstanding the wear and tear that inevitably comes with a high turnover of guests.

Accessories and soft furnishings

For maximum glamour and luxury, clever accessorising goes a long way. The interior designer noted that cushions, wall prints, table lamps, floor lamps and hanging lamps are all “ideal ways to add style without spending a lot of money”.

Soft furnishings are especially key in creating a feeling of luxury. Good-quality sheet sets, pillows and towels “can add enormous value to the look and feel of a property”.

Know where to splurge

If an item is going to be in frequent, daily, it’s time to invest in a high-quality version. Toiletries, soaps, toilet paper, tea and coffee supplies, and towels are key places where spending a little extra can do wonders for creating a luxury feel.

High-quality travel and gourmet food magazines – easy to find at op shops – are “always a nice touch to add to coffee tables,” Ms Richardson shared, as are informational pamphlets about the local area.

Shop smart

Facebook Marketplace, Gumtree and op shops should be the first point of call. “People let go of their items for a range of reasons and you can easily negotiate a very good deal and get an amazing statement piece to add to your accommodation,” Ms Richardson suggested.

For staple items, don’t overlook discount stores like Kmart and Big W. Ms Richardson observed: “Very often, these designs and trends are replicas of high-end designer items but at a drastically reduced price.”

“When mixed with other items, no one would realise that they are not the real designer deal,” she said.