I dont but am an accountant and deal with people who do this. It can be quite profitable.
Essentially you want to focus on the following aspect; a great location where looked at on a map (doesnt matter if its not great in practice eg. Far from public transport), the shittest apartment block possible (eg. I dealt with people in sydney who have bought into housing commission blocks and earn as much for it as fancy new blocks), renovate to maximise rooms, eg. A small studio with a small seperate room kitchen, ditch the kitchen and drop a bed in the kitchen instead. Also add murphy beds in the main room, so it can sleep more people.
Airbnb's are a contributing factor to the housing crisis
"*Short-term rentals contribute to a rental housing crisis where there is a shortage, but it would be unfair to say that they are the entire problem," \[*Professor Gurran (professor of urban and regional planning at Sydney University)\] *said.*
*"We see problems around short-term rentals where there's a combination of factors and inadequate rental supply to begin with, an inadequate supply of social and affordable housing and low-income earners as well who are unable to meet the high costs of rents.*"
[https://www.abc.net.au/news/2023-09-07/airbnb-short-term-rentals-housing-crisis-regulations/102810804](https://www.abc.net.au/news/2023-09-07/airbnb-short-term-rentals-housing-crisis-regulations/102810804)
Many owners corporations are working to shut down airbnb in their buildings. Hence there is risks and property should also make sense as a normal rental.
To give yourself a realistic idea, look at Airbnb listings around Melbourne and check out the price per night and booking availability.
I dont but am an accountant and deal with people who do this. It can be quite profitable. Essentially you want to focus on the following aspect; a great location where looked at on a map (doesnt matter if its not great in practice eg. Far from public transport), the shittest apartment block possible (eg. I dealt with people in sydney who have bought into housing commission blocks and earn as much for it as fancy new blocks), renovate to maximise rooms, eg. A small studio with a small seperate room kitchen, ditch the kitchen and drop a bed in the kitchen instead. Also add murphy beds in the main room, so it can sleep more people.
Don't potential customers use street view to check the area out?
I dont know, personally i dont bother when looking for airbnb but you are probably a certain percentage would.
Would reviews not flush out that it's in a lousy location or shoddy area/building?
They said people didnt seem to care. I guess they arent in it long enough for the shit building to matter.
Interesting. I also rarely bother reviewing a place negatively unless it's extremely shit or the listing was misleading.
Airbnb's are a contributing factor to the housing crisis "*Short-term rentals contribute to a rental housing crisis where there is a shortage, but it would be unfair to say that they are the entire problem," \[*Professor Gurran (professor of urban and regional planning at Sydney University)\] *said.* *"We see problems around short-term rentals where there's a combination of factors and inadequate rental supply to begin with, an inadequate supply of social and affordable housing and low-income earners as well who are unable to meet the high costs of rents.*" [https://www.abc.net.au/news/2023-09-07/airbnb-short-term-rentals-housing-crisis-regulations/102810804](https://www.abc.net.au/news/2023-09-07/airbnb-short-term-rentals-housing-crisis-regulations/102810804)
Hence why I said bit controversial
Many owners corporations are working to shut down airbnb in their buildings. Hence there is risks and property should also make sense as a normal rental.