Are you if you are interested in making an investment in an Airbnb home in Australia? And more specifically in the city of Sydney.
When one takes into account the fundamental important parameters for a successful investment, such as the average daily rates, monthly revenue, and occupancy rates in Australia, this stunning city is certain to be an excellent source of passive income.
Keep reading to gain a better understanding of the regulations governing Airbnb in Sydney as well as the opportunities for making money in this city!
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Is It Okay to Use Airbnb in Sydney?
Let's just get this out in the open: Indeed, the use of Airbnb is not against the law in Sydney! This city is undeniably a mecca for travelers from all over the world, as evidenced by the fact that it receives an estimated 4.1 million tourists from other countries each year.
The Sydney Opera House, the Sydney Harbour Bridge, the Manly Ferry, and a variety of other tourist attractions continue to bring an increasing number of visitors who book hotels in the city.
This is just a little bit of evidence! As of the month of July 2022, there are a total of 94,792 nights available in Sydney through the use of only Airbnb. MadeComfy is in charge of managing 159 listings, while Ken and Rowen are responsible for managing 119 and 73 listings, respectively.
How Much Money Could I Make if I Opened an Airbnb Business in Sydney?
In the city of Sydney, there are currently 7,094 Airbnb listings, with 55% of complete houses earning up to A$3,816 a month. In Sydney, the average occupancy rate is 42%, and the average daily rent is 157 Australian dollars (AUD).
According to Airbtics, a data service that tracks short-term rental properties, an apartment in Sydney with two bedrooms can bring in as much as A$62,780 per year in rent. Do you want to find out how much of a profit you may make using Airbnb? Then you definitely need to check out our Free Airbnb Calculator as soon as possible.
What Kind of Regulations Apply to Accommodations That Are Rented Out for a Short Term in Sydney?
180-day booking cap (with an exemption for bookings 21 days or longer)
A house can be rented on a short-term basis for up to 180 days per year in Metro/Greater Sydney and numerous rural local government areas if it is a non-hosted short-term residential accommodation (STRA) property. This applies to properties in which the host is not present on the premises.
As long as the resident satisfies the criteria for exempt development, the local council is not required to give its consent before the resident can use their property as a short-term rental.
All hosts are required to abide by the fire and safety regulations, as well as the NSW Fair Trade Code of Conduct for the STRA Industry, in order to be considered compliant.
The initial registration charge for hosts is $65 for the first year, and then there is a $25 fee to renew their registration each year after that.
The number of days that local residents are allowed to rent out their homes or other properties on a short-term basis will be limited.
Is There Potential for Profit in the Region of Sydney?
The good news is that you won't have to fork over tens or hundreds of thousands of dollars in order to get a foothold in the real estate market. In Australia, real estate investors and hosts favor the practice of rental arbitrage due to the fact that it does not involve the ownership of a property. According to the statistics gathered for Sydney, this neighborhood has a rental population of 48.65% and maintains a rental yield of 3% throughout the year.
If you use a short-term rental calculator that is correct, you will be able to determine whether or not Sydney is a decent area to invest your money. It is essential to be aware of your expected annual revenue as well as high-return investment opportunities in Sydney; nevertheless, with Airbtics by your side, this should not be a very challenging chore at all.
Five Best AirBnBs in Sydney
Here are the 5 best AirBnBs in Sydney.
- Secluded Waterfront Villa
This cottage in Sydney is perfect for you to call home if you have a soft spot in your heart for the wondrous creatures that inhabit the natural world. This lakeside home, which is surrounded on all sides by water, is home to a wide variety of animals and birds. You will also find a boathouse ready and waiting for you.
You'll feel as though you're living in the coziness of your own home in the tastefully decorated rooms.In addition, the boathouse features enormous windows that provide enticing views of both the sunrise and the sunset.
You have the option of relaxing by the fire as luxuriant gardens surround you. You are welcome to take advantage of the complementary meal that is served to you each morning.
The breakfast consists of handmade muesli and eggs that have been freshly deposited by chickens. This Airbnb property has welcoming hosts who are very knowledgeable on how to go above and beyond their guests' expectations. What sets this hotel apart from others is its proximity to a wide variety of picturesque locations that can only be reached by boat.
You are the type of person who would appreciate this well-kept secret if you have the desire to submerge yourself in the pure environment and its peaceful seas. You will get a one-of-a-kind lodging that is superior to the majority of hotels for the low cost of only 175 US Dollars.
- The Rocks Discreet and Elegant with a Harbour View
There is space for up to three guests in this apartment with one bedroom. The exquisite terrace of this luxury residence, which will transport you to the era of the Victorian era, is most likely the most distinctive feature of the property.
From this vantage point, you will have an unobstructed view of both Sydney Harbour and Walsh Bay. The Opera House, Barangaroo, and The Rocks are all brought into your living space, which is another one of this apartment's remarkable achievements.
This ad provides the opportunity to treat yourself to a luxurious apartment that is located in the center of Sydney and is available for just 142 USD per night.
- Ancient Sandstone House
This house has developed through the years. In the 1860s, it was a stone mansion that gave off an air of sophistication and opulence. This Airbnb rental seems absolutely amazing, pristine, and up to date right now. Its well-structured design and earthy hues were chosen with the intention of inducing feelings of calm and relaxation in the user.
The stone walls lend the home an air of authenticity and provide a subtle clue as to its family history. If you are looking for a place away from home that feels the most like home, the fully-equipped kitchen, the interesting bathroom, and the exciting pool are just what you need. You won't have to stress about the laundry either because you can easily do it downstairs whenever it's most convenient for you.
With about $322 per night, you can call Sydney your home. You are welcome to invite up to three of your closest friends and family members to share this lovely accommodation with you.
- 47 Beautiful 4bdr House
This beautiful home is the perfect choice for you if you are looking for four big bedrooms that have the capacity to sleep eight guests. It features a large amount of space indoors in addition to a fantastic view of the outside.
In addition to that, there is a gorgeous space surrounding the pool in which you can relax in comfort. If you are someone who enjoys being surrounded by vegetation, there is a sizable garden that can be seen from the windows of each room. You, too, will find many intriguing pieces of furniture to delight you.
When you reserve this turn-key home for 322, you should anticipate nothing less than a beautifully designed residence.
- Balcony in Surry Hills
A well-kept property that manages to be both traditional and contemporary may be found in a suburb of Sydney. The presence of greenery throughout this dwelling makes it a more restful place to spend time.
You may reserve a room in this wonderful residence for just one hundred US dollars each night, and you can be sure that every one of your requirements will be met.
This residence, with its stunning balcony and chic bathroom, as well as the idealistic host who manages the guests, is so appealing that many of them cannot get enough of it.
This listing is a must-book if you're looking for a somewhere to stay that's not too far from the heart of the city but still within driving distance of a lot of amazing attractions and sights to see.
Unlock the true potential of your rental property in Sydney with Houst - Earn up to 56% more than traditional long lets.
Taking into consideration the Airbnb rules and regulations in Sydney will, in general, assist you in operating your Airbnb business more efficiently.
In addition to the fact that this can be a source of passive income for a number of hosts, beginning an Airbnb business can also be a fun way to meet new people from all over the world and broaden your social circle.