North Sydney beach owners get huge profits from short-term rentals, (real estate, Realestate.)
Some of Sydney`s coastal beaches are desperately short of overnight accommodation, and local owners can earn A $50, 000 a year by renting house through short-term rental platforms.
Hundreds of residents are renting apartments, empty rooms, and even garages through short-term rental sites on the cape of northern Sydney, due to growing demand for overnight accommodation, according to Realestate, a website based on real estate.
Cox (Karen Cocks), a resident of (Bilgola Plateau) on the Bilgora Plateau, is one of them. Cox will rent out a short apartment adjacent to the house, earning A $ two hundred and fifty thousand over the past five years.
Mr. Cox said there were tenants every season, with short-term apartments charging A $205 a night from Sunday to Thursday, A $305 a night on Friday and A $325 per night on Saturday.
"We are busy all year round, anniversaries, birthdays and wedding," Cox said. There is a serious lack of accommodation on the northern beaches. "
More and more people are beginning to realize the earning potential of real estate in the areas concerned, and are actively buying houses in the rich areas, hoping to make money by renting short-term rentals from real estate on the isolated peninsula.
Earlier this month, a seven-family mansion in (Dress Circle Rd), (Avalon Beach) Dres Ring Road, Avalon Beach, was listed for sale, attracting seven buyers to register for the auction. Among them, several buyers plan to charge up to A $550 per night for a short rent of three separate apartments in the property.
Airbnb Australia manager (Sam McDonagh) McDona said there were currently nearly 5000 real estate units available for short-term accommodation on the northern beach of Sydney.
"our community is helping to fill the housing gap on the northern beach," McDonna said. This means that people can stay closer and longer when visiting relatives and friends. "
