Things to Consider Before Renting Out Your Luxury Property
2nd April 2019

People think that the time before buying a luxury property is most difficult, because one has to earn enough money to be able to buy such a property. But the reality is that buying a luxurious Sydney accommodation Airbnb is only half the story. Once you have purchased it, in case you are not able to stay in it, your property can fall into disuse and disrepair. On the other hand, if you want to let your property out, you are worried about the safety and security of your property. You can, of course, hand over your luxury property to an Airbnb property management Sydney who will find a good tenant for you at the right rent. But before that there are some things which you as an owner should also know. Let us take a quick look at some of these things.

The first thing you need to decide for yourself is your expectation of rent. The property is a luxurious one, so you can’t charge peanuts. But if you charge too high, the prospective tenants would rather book a hotel room and get similar luxury plus great service at a slightly higher rent (or room tariff). You must also fix the rent in accordance with the location. You can’t afford to charge higher than what others are charging in the neighborhood. If you charge lower than your neighbors too, the prospective tenant might fear there is something wrong and shy away. The best way out is to consult a good Airbnb property management Brisbane company.

Since you have purchased a high end property, it can be assumed that this is not your first property. Also, it can be safely assumed that you are pretty well off. Keeping all these in mind, you must seriously consider the tax implication of renting out your luxury accommodation Australia. Every country treats this differently, and for Australia you must clearly understand the implication of owning a costly property where you do not reside. You must make sure that your tax outlay would be less than the rent you expect, otherwise all the effort is futile.

A luxurious house does not only cost more than other properties. The cost of its upkeep is also quite high. You must decide whether the rent you will charge would be inclusive of these maintenance charges, or you would pay them separately yourself. The terms must be laid down clearly in your listing.