Homeowners in Sydney are making big money with short-term holiday rentals, sometimes up to five times as much as they usually would over the Christmas and peak holiday and event times.
With the acceptance of companies like Airbnb and the copycat companies coming into the market, homeowners are realising they can make some great “bonus” money by short-term renting out their place during the peak holiday times across Sydney.
Sydney homeowners are taking advantage while being away, and with their house sitting empty by renting it out on the short-term rental market and earning income for them while they are away. While others are choosing to cash in on the holiday short-term rental boom by opting to “move out” while remaining in Sydney, staying with family or friends while their property is being rented.
A McMahons Point studio with Bridge and Opera House views is getting $800 a night over New Year, normally it would collect $180 per night.
A Freshwater home with ocean views that would normally be worth $800 a night is renting out at $3000 a night between December and January 3.
In Tamarama a two-bedroom apartment with ocean glimpses is on the short-term market while the family is overseas for the holidays.
If you are thinking of heading to Sydney for the holidays, there is a beautiful home in Parsley Bay Vaucluse is being listed from $1750 per night, or a property in Cremorne with Bridge views which is expected to fetch around $6000 a night.
It’s not just the Christmas period where home owners are cashing in on the short-term Sydney rental boom. Any mega Sydney event is now fair game for Sydneysiders to make some extra revenue in the short-term rental market. Events like the Eminem Concert in February and the Mardi Gras in March will also bring in windfalls for Sydney property owners.