Now has never been a more profitable or inclusive time to enter the short-term rental market in Auckland. 2023 is ushering in an influx of tourists, with occupancy and daily rates rapidly increasing since our borders reopened. For many travellers in the rainbow community, New Zealand’s largest city is at the top of their list for LGBTQ+ inclusive destinations.
With a team of experts optimising performance, short-term rentals can bring in up to three times more income than long-term rentals. The Stay Hub is Auckland’s largest short-term rental management company, offering a full range of services from revenue optimisation to marketing on over 140 global platforms, cleaning, maintenance, and a five-star guest experience. Inclusivity and safe travel has always been an integral part of the business. Our property owners and guests come from all walks of life, and our workplace celebrates a diversity of sexualities. We take the utmost care in vetting guests, ensuring the safety and security of the local community and our owners’ properties.
In a recent study by Big 7 Travel, Auckland was named one of the best queer-friendly cities to travel to and one of Airbnb’s top destinations for the year. Likewise, the Spartacus Gay Travel Index has ranked New Zealand in the top 6 most liberal and rainbow-inclusive countries for 2023. Another lucrative upside for short-term rentals is the closing chapter of pandemic restrictions in China. Tourism New Zealand’s latest research shows over 43% of Chinese travellers have a preference for New Zealand as a holiday destination. China was our second largest market for arrivals prior to Covid-19, with many visitors from the rainbow community coming to New Zealand for its safe and inclusive environment.
Whether you own an apartment in the CBD, a house in Greater Auckland, or a villa on the coast, The Stay Hub manages all types of properties. Higher rental income, more rigorous maintenance, and flexibility to use your property as you wish are just a few of the perks of short-term renting. You can block out your property as you come and go or offer it year-round to guests. Contrary to popular belief, short-term rentals often incur less damage. With thorough cleaning after each guest stay, any damage is spotted and immediately repaired, reducing overall costs in the long run. Frequently, damages in long-term rentals go unreported and therefore accumulate over time, resulting in higher repair costs.
Success in the market comes from a number of factors – not just location. Amenities, bedrooms, revenue optimisation, and marketing are all key drivers. Most self-managed properties rely on pricing algorithms from online travel platforms to manage their pricing and often fall short compared to a team of professionals. At The Stay Hub, we have experienced revenue analysts who use a hands-on, data-driven approach, consistently beating market pricing by over 100%.
Since the borders reopened last year, The Stay Hub has achieved an Average Daily Rate (ADR) of $368 across all property types – 76.9% higher than data from the wider market. For two-bedroom properties, we have seen a consistent ADR of $280. Three bedrooms have achieved $377 per day, increasing to an average of $419 in the first quarter of this year, and our four-bedroom rentals have taken in a daily average of $576. In the last eight months, we have achieved over 90% occupancy, with plenty of upsides to come. Up to 40,000 Americans are expected to enter the country for the FIFA Women’s World Cup in July, international student numbers are increasing, China has reopened for international travel, and migrant visas are on the rise.
The Stay Hub’s property portfolio also includes high-end homeowners, with our multi-million dollar properties achieving average daily rates of up to $5,000 in peak months. Owners of more upmarket properties are eligible to be listed on Marriott International Homes & Villas through our trusted partnership, giving them access to their global database of 153 million luxury travellers. This expertly curated rental platform showcases thousands of premium and luxury homes around the world. By taking on our services, your property could become part of this exclusive portfolio.
If you are new to short-term rentals or want to maximise your current rental returns, joining The Stay Hub will see you earning profits from the get-go. Our well-established reputation has built trust with our owners and guests, and we are long-standing Superhosts on Airbnb, maintaining consistently high ratings and a 100% response rate. The Stay Hub’s customer service team are available around the clock, ensuring guest enquiries are met with timely responses, regardless of time zone. This allows for higher booking conversions and increased profits.
To learn how much you could earn with short-term rentals, book your free property appraisal on our website at www.thestayhub.co.nz or call one of our experts on 0508 782 9482.
