Renting your property on Airbnb during specific times of the year will allow you to almost double your rental income, a survey has revealed.
MadeComfy is a property management start-up that helps owners manage their Airbnb rental. Its research shows that similar to hotels, rents on Airbnb spike during peak periods and periods when there are special events.
Many investors who use Airbnb to rent their property are already aware that peak periods are Christmas and the new year, but MadeComfy has found three other times when Airbnb listers can charge premium prices.
Owners stand to make an extra 88 per cent when listing their Sydney home during Mardi Gras and an extra 35 per cent over the Easter period.
Based on bookings MadeComfy has already taken, a two-bedroom apartment in Darlinghurst during Mardi Gras makes $434 per night, $203 more per night than bookings taken before and after the parade. This equates to a total of $609 more for the owner from a three-night booking.
Over the Easter break, MadeComfy’s analysis found investors can earn an extra 35 per cent by renting their home via Airbnb. The rise of locals taking staycations and booking accommodation in their own city is believed to be fuelling this demand.
Based on bookings MadeComfy has taken for Easter, a four-bedroom home in Pittwater can fetch $887 per night, which is $226 more per night compared to other bookings outside this period, giving the owner an extra $904 for the four-night booking.
Another event that results in a boost for Airbnb properties is Vivid Sydney. During the light festival, Airbnb rentals rose by up to 34 per cent.