Rental shortfall triggers opportunity for homeowners

Rental shortfall triggers opportunity for homeowners

Posted on Thursday, May 30 2013 at 10:32 AM

A rental accommodation shortfall across Australia has resulted in a 14 per cent drop in short-term room rentals since last year, according to a recent survey.

Director of, Jonathan Moore, says the number of
properties available for short-term rental has fallen from 34 per cent to 17
per cent in just 12 months.

He called on homeowners to consider short-term room rental as a way to
cash in on their spare rooms without any long-term commitment.

“With the number of individuals looking for shared accommodation in
excess of 18,000, demand for accommodation is far outstripping the number of
properties available,” Moore says.

“There are currently approximately three individuals searching per room
available. With such high demand, if potential landlords are considering
renting out their spare room but are not looking for a long-time commitment, short-term
rents can help provide them with a temporary income boost,” Moore says.

He says while a normal tenancy within a shared apartment typically lasts a year, a
short-term rental tenancy can last from one week up to six months and is typically
used to fill rental voids.

“The short-term
option is extremely popular amongst current tenants, with 72 per cent of the
current short-term rental listings on the site offered by existing flat sharers.
This was followed by live out landlords, who attribute  to 24 per cent of the short-term rentals

“A short-term tenancy is a fantastic way to allow people to move to a
new area without committing, and more and more property owners need to become
aware of this.

“Whilst short-term rentals are offered throughout the country, the
majority can be found in major the cities. This can be attributed in part to
increased numbers of people relocating for career purposes and requiring
immediate accommodation,” Moore says.

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