“There is a growing number of tenants on the lookout for environmentally friendly rental properties, and this trend is expected to continue with new developments.
By greening up your short-term rental, not only is your property more attractive for potential renters, but its market value can also increase. This is good news for real estate investors that are looking for an edge in the market.
Short-term rental platforms have been on the rise in recent years, and smart investors are taking notice. Tapping into this market has delivered above-average returns for many investors, but now the competition is heating up and you need to find ways to stand out.
Here are 12 ideas for making your property more eco-friendly to keep your short-term leases filled and encourage return visitors. https://www.youtube.com/embed/cgiXP1vrghc?rel=0
Australians consume nearly 3 million coffee capsules a day! That is a lot of coffee and a ton of excess landfill. Plungers are a more eco-friendly alternative to a coffee machine, but if you already have one on your property consider reusable pods.
Crema Joe is one example of a progressive coffee brand that is making pods environmentally friendly. Their SealPod Nespresso compatible capsules will out-live your coffee machine!
Heating and air conditioning can be a major drain on utility bills, not to mention repeated maintenance repairs. Look to upgrade buildings with energy-efficient models that can work smoother, save money and provide more comfort to residents. Maintaining the evaporator coils and drainage channels will extend the life and depreciation cycle.
A well-lit parking lot and walkway give renters a sense of security, but those lights are not cheap to operate. Switch out pole lighting, porch lights and low walkway beams with energy-efficient solar fixtures. They can be designed to automatically come on during dark hours and go out during the day.
Some older buildings were not designed to keep drafts at a minimum. An inspection of how well your buildings are insulated could point to needed upgrades. Get a professional opinion on the energy loss that can be prevented through new insulation, replacement windows and caulking up leaks.
An Arc Fault Circuit Interrupter (AFCI) or a Ground Fault Circuit Interrupter (GFCI) should be established in every rental unit. They can indicate problems from tree limbs or standing water that will cause surges of electrical power. Repeated surges will indicate that an electrician needs to be contacted. They also prevent renters from overloading outlets.
Technology has come a long way in providing more energy efficient standards for water heaters. Everything from cutting back on unit size to installing on-demand hot water can cut energy costs by as much as 30% per unit.
Toilets are water hogs. This can amount to a substantial water bill when multiple residents are housed. Ultra-low-flow (ULF) toilets can reduce water usage by up to 7 liters per flush. By changing out old toilets, you will also find that maintenance is decreased from parts wearing out. Replacing showerheads and faucets should also be considered. Make sure your water pressure is checked and set to the appropriate stream.
Instead of stocking up your bathroom amenities with tiny plastic bottles, look to install big containers that last longer. Not only will this reduce the changeover time when you are cleaning the property for the next guest, but it will also prevent all of those little plastic bottles ending up in the ocean.
Take this way of thinking into the kitchen too. Use big glass jars for sugar, tea, and other kitchen amenities. And for sauces, oils, and other replaceables, buy them in bulk and make the most of cute looking refillable containers. Bulk buying will also save you money.
If your guests are environmentally inclined they will appreciate the little extra touches. There are lots of great chemical-free and organic products available on the market that you can use to re-stock amenities. Sure they’ll cost a little extra, but that 5-star rating will be worth it!
Tenants look for money-saving devices when considering a short-term rental. Being able to control the heat or air in a unit is a big factor. Adjusting temperatures through apps on smartphones is a new technology that many renters look for in comfort and control.
Another way to keep your short-term rentals greener and more impressive is to use plants and trees for exterior landscaping. Trees are nature’s air filters for providing pure air and natural beauty. Use watering mechanisms that control the timing and flow of water for conservation.
Being eco-friendly doesn’t all have to fall onto you as the property owner. Get your guests to help out and make a difference.
For example, encourage your guests to recycle and sort their waste by providing recycling bins and showing them where they are. You could also suggest to them to take public transport instead of driving everywhere, and provide a transport card they can top up as they go for the next guests.
Creating a reputation for having a functioning short-term rental with energy-saving devices will bring back renters time and time again.
If you want to take your eco-friendliness to the next level, consider working with a short-term property management service like MaisonNets to help out!”
“A body corporate is a necessary evil when it comes to owning a property in a subdivided arrangement.
Whether it’s an apartment block or subdivided semi, when there are multiple property owners involved in making decisions about a property it is often essential to have a managing body who can coordinate important decisions and aspects of property ownership.
Unfortunately, as the property owner, this setup can become limiting. For example, you need to run all major decisions about your property through the body corporate, and they will make a decision about your request with regards to all of the other property owners who have a vested interest in the subdivision.
An example of where this may be limiting is if you are looking to rent your property out to short-term guests in an attempt to increase your rental yield. Given the relatively new nature of short-term renting, many body corporates have outdated and restrictive policies about letting this happen.
To help you get permission from body corporate to host short-term guests at your property, we have put together this step-by-step guide. Enjoy!
Note: In HUGE news that is shaping the rental market in Australia, Fair Trading modified its Strata living handbook to warn strata committees and owners corporations from passing by-laws that restrict holiday letting.
When deciding to rent out a home or apartment to short-term guests, it’s important to read your body corporate agreement very carefully.
Many body corporate agreements have stipulations that prevent owners from renting their property on a short-term basis. If your agreement has this restriction on it, it’s unlikely that you’ll be able to rent out the property without causing yourself problems.
In some cases, a body corporate agreement will state that it can only be done with permission.
Either way, before you move the process forward it’s best to read your contract and know what you are up against.
Before approaching your body corporate to ask if you can rent your apartment out to short-term tenants, you need to gather all of the relevant information that they may be looking to see.
One approach that can be quite effective is to help the body corporate understand how you will vet potential short-term guests before letting them stay at your property.
Some things to consider could be:
https://www.facebook.com/plugins/post.php?href=https%3A%2F%2Fwww.facebook.com%2Fmaisonnets%2Fposts%2F2034054410210326%3A0&width=500Note about insurance:
Short-term landlord cover is important and not many insurers provide it. The cover will be for landlord contents, malicious damage by tenants, loss of rent (providing bookings can be substantiated), and liability cover.
The cover can also be provided for the head tenant (used as short-term) and provides all the landlord protection, plus $50,000 malicious damage cover to the building, which is a big selling point to the body corporate.
Body corporates will very often use insurers that deem short-term rentals accommodation as commercial usage. This may be one of the reasons put forward to restrict the use of a property as short-term accommodation.
At MaisonNets we have access to strata insurers who view short-term as residential and will cover you under the residential strata cover.
Once all the documentation is in place, it’s time to share it with your body corporate. At this stage, you should have enough documentation to reduce any risk on behalf of the body corporate.
It’s important to be thoughtful when you approach them. Write a letter detailing the process you will go through when renting out the apartment, using the information you have gathered in the previous step. Reinforce that you will be responsible for the tenant’s actions who are renting the property, and remove any foreseeable risk in the eyes of the decision maker.
It’s a good idea to maintain strong communication with your body corporate throughout the whole process – before, during, and after you have rented out your property.
It may also be helpful to educate body corporate about the opportunities that come with short-term rentals, and how it can attract more investment in the area, driving up property prices for other owners.
Instead of approaching body corporate, you could approach the landlord and suggest a “head-lease” arrangement. In this scenario, you offer to sublease the apartment as a short-term rental and guarantee an income for the landlord and the person handling the head-lease. This income is typically higher than a long-term rental agreement, which is attractive to all parties involved.
At the end of the day, short-term rental investing is a growing trend and one which many property owners are using to increase their rental income and pay off debts. While there are still some body corporates who are against this movement, most are coming around, and we expect this trend to continue. So even if your body corporate is against short-term rentals, for now, bide your time and present the above information to them when the opportunity arises.”
“As the upkeep of property continues to increase, a short-term rental is the perfect way to make money.
The top 10 Airbnb hosts made between $2 and $5.3 million dollars in 2017.
Many tourists would rather get a local experience and prefer staying in an apartment or house, meaning the short-term rental industry is booming. In a recent report, Euromonitor International predicted that short-term rentals will see a 24% increase from 2015 to 2020.
But how should you make your guests feel comfortable and provide them with information about your home? One way is to leave a welcome note.
Unlike hotels, there is usually no one greeting guests when they arrive at your apartment or house unless doing a ‘meet and greet’. When this is not possible, a welcome note provides the guests with all the essential information about the property, getting in contact with you, and about the area they are visiting.
It is also a nice personal touch and may encourage the guests leave you a good review.
The perfect welcome note will have you on track to become an Airbnb superhost!
Deciding what to include in a welcome note for your guests can be difficult.
But while there are many pieces of information that you could include in your welcome note, the letter should include these five things at a minimum.
Every welcome note should include a personalised message for your guests.
Start out with a greeting including their names and saying you hope they feel your property is a home away from home.
Provide them with little tidbits about the home, such as which window the lorikeets will come and say hello, or where the best sunlit area is in the afternoon.
All welcome notes should provide your contact information for guests. Include the best phone number and email to reach you in case of an emergency or if your guests have any questions.
Also, include the contact information for someone else they can contact if you cannot be reached. Be sure to provide the address of the property so your guests will be able to get back to the property when they head out.
Important details about your home should be provided to every guest in your welcome note. Provide information about the WiFi password and how to turn on the TV. Also give details on appliances like the fridge, dishwasher, washing machine and the Air Conditioning.
Include any instructions on how your house should be left after the guests end their stay on your property. This information will help put your guests at ease and ensure no appliances are damaged or left on when unattended (especially the air conditioning, fans or heaters).
A nice touch of a welcome note is to include recommendations for your guests about the area. Tell them about the best activities, shopping spots, and cultural sites to visit.
Also, provide the most well-known tourist attractions and museums. It is also great to give recommendations on your favourite café, restaurants, parks, and other secret spots which you frequent regularly.
The best way to end a welcome note is to wish your guest a wonderful stay. Tell them you hope that they enjoy staying in the comfort of your home and that you hope they have a lot of fun in your area.
Thank them for choosing to stay in your home and tell them to have a wonderful trip.
A welcome note offers a personal touch to your guests and provides essential information about your home. Using these tips will help you write a welcome letter or compendium that puts your guests at ease and helps convey important details about staying in your short-term rental and exploring your area.
Your welcome note should be helpful to your guests and lead to glowing reviews about their stay on your property, and even repeat bookings!”
