What do I do with my holiday rental eg AirBnB in the current COVID-19 market?

Wow, what a year we are having, let’s be honest here, the rental market has slowed, rental prices are coming down. There are less people looking to rent at the moment and on top of this, the 10% of the property market that were in AirBnB are now without short-term clients or in the case of NSW where they have outright banned AirBnB. We are seeing Brisbane and Gold Coast properties flood the rental market over the past couple of weeks.

But what we are seeing is Agents taking the same marketing and strategies that they have used over the past couple of years to try and secure new tenants.

A couple of things to consider:

  1. Is life right now the new ‘Norm’? and
  2. Can we play by the same rules we always have when it comes to managing your investment property?

Let’s hope this is not the new ‘norm’ but Pure Real Estate understands that right now is not the time to carry out business like normal and have adapted to the current market.

It’s not all doom and gloom, there are tenants that are looking for short-term accommodation – 3 months + some wanting furniture.

We have been helping these owners to get some income and survive through these unusual times.

We do have strategies to tenant furnished or vacant properties and this is our approach.

Digital inspections/Virtual Tours
We invested in the latest technology to allow tenants to get a feel for a property before they even enquire. Allowing tenants to walk through a property and check out its features before inspecting. Check out what we have created and how this feature will help speed up and secure you a tenant now.

Offering more Private Inspection times
With the current restrictions and being unable to advertise open for inspections, we have pivoted from advertised open times to private inspections and made more times and staff available to show prospective tenants through your property quicker and using Rental Q to pre-approve applications for quick processing to help tenants move quickly. This combined with our virtual tours is working and we are securing good tenants quicker than the market averages.

Furnished properties
Not every tenant wants a furnished property and it would be silly to not open the market to tenants that want to take the property without furniture.

Where we can, we are advertising both furnished and unfurnished and if a tenant wants to take the property unfurnished we arrange for your furniture to go into storage.

We do this as your property was in the short-term market for a reason (either better returns or for lifestyle reasons) and when we go back to a normal market you will want the ability to put the property back in the short-term pool if the market is right.

Pure Real Estate
We are market leaders in digital marketing and securing you a tenant, we have the latest tools and have built our own technology (Rental Q) to help you through these uncertain times.

If your property is currently vacant or sitting there furnished waiting for things to change, reach out to us as we have a solution with short or long-term plans.

Now is not the time to wait and see, take action and get the right marketing strategy to maximise your returns and minimise your outgoings from one of Brisbane and Gold Coast’s leading digital agencies.

Make an Enquiry Today