Reach your financial goals faster by renting smarter
Your home is capable of directly contributing to your monthly mortgage repayments and putting you on a faster track to financial freedom. How? Through extra income earned by listing it on a holiday home rental website.
Stayz, a short-term rental site, has long been helping homeowners like Robert get more out of their property or investment property. The Adelaide local has been listing on Stayz since 2017, and his rental income now covers the whole of his mortgage repayments. "It also gave us the confidence to strategically purchase other properties," says Robert.
Robert's success isn't an isolated case. Currently, more than 50% of Stayz owners use their rental income to cover 75% of their mortgage.* This boost supports these homeowners in reaching more of their financial goals sooner, from paying off mortgages early to expanding their real estate portfolio, or simply assisting with property maintenance costs.
As holiday rentals increasingly become the preferred choice for travellers, homeowners are in an ideal position to maximise earnings from short-term rentals throughout the entire year. In Adelaide, prices rise, on average, 17%** during peak demand periods, such as school holidays, summer and annual events.
"Adelaide never stops to surprise us," says Robert. "The main events would be the Tour Down Under, motor sport and cricket, but most interstate and international guests come for the amazing wine regions."
And the rewards aren't just isolated to the financial benefits of a substantial source of extra income.
"Admittedly, we were initially motivated by the extra income," reveals Robert, "however, our caring nature quickly kicked in and we now get so much pleasure out of making our guests happy."
Such positive renting experiences don't just happen by chance. The reputation of a company and how it contributes to maintaining the short-term rental industry can be an indication of the types of holidaymakers you can expect.
As a secure and reputable platform, Stayz primarily attracts families and groups of friends. These types of travellers tend to stay for longer periods, book well in advance and are looking for a whole home rental experience.
Listing on Stayz also comes with access to having all bookings being covered by a $1 million liability insurance, plus an exclusive set of tools that enable you to optimise your pricing, bookings and communication, as well as receive educational materials on how to market your rental to these high-quality travellers.
Catering to higher quality guests also gives you the opportunity to invest in lifting your property's appeal and substantially increase its value in the long-term.
For example, Robert credits the addition of a heated swimming pool as having a significant impact to the amount of interest his listing now garners.
"Most of our guests are families and the feedback we get about it is incredible," admits Robert. His 1910s cottage in South Plympton also boasts a family-friendly garden, an outdoor room with TV, and a cubbyhouse for the kids.
"Some families will even share beautiful and funny stories while still on their trip, and we love that," he adds.
Ultimately, taking the time and effort to turn your home into another family's ideal holiday destination can result in your own financial gains.
"Take pride in preparing your property and listen to your guests," says Robert.
"Remember your kind actions can turn someone's great trip into an amazing trip by the smallest of gestures."
Interested to see how much your home could make? Stayz takes the guesswork out of the equation with its rent potential calculator and offers a preliminary estimate of what you could earn based on nearby comparable rentals. Find out how much you could earn at stayz.com.au.
*2017 Vacation Rental Marketplace Survey
** Stayz internal Adelaide data comparing average prices in June 2019, to December 2019.