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LongView Executive Chair, Evan Thornley, bought a block of four Art Deco flats in St Kilda which were being managed in ‘traditional rental’ by a local agency.
Over the next year, the apartments were furnished and taken into the short-term market through AirBnB, Bookings.com and other platforms.
Gross rental more than doubled, but of course costs were also higher. But after all costs, net cash flow was up by over 50%.
This was a total gamechanger that enabled Evan to buy another property.
Find out about the risks and rewards and whether AirBnB is right for your property. Call Cath on 0411 101 999.