Short-term holiday rentals from Brighton to Bondi have flooded the regular residential rental market due to impact of Covid-19.
Data from realestate.com.au shows y-o-y% change in new rental listing over the year to date - this peaked at 11% in March in comparison to the year before. Mark Trowell, CEO of Yabonza, provided his insights on the property rental market and how landlords are exploring other options to generate income.
“Short-term rentals appeal to owners as they generate a higher income, due to the ability to charge on a nightly basis. However, with higher costs comes higher risk and unfortunately, there’s instability with this model, which has been highlighted over the past couple of months"
- Mark Trowell
Mark previously shared his thoughts back in April, "Rethinking short-term property in challenging times", in our article where you can read here.