The Stay Hub property managers give stalled sellers another option.
Auckland property owners struggling to find buyers for their investments are missing out on potential profits while their properties are up for sale, according to leading short-term rental experts.
The Stay Hub, Auckland’s largest Airbnb and short-term rental management provider, has a profitable option for unsold homes on the market – preventing them from becoming financial burdens to property owners waiting for the right price.
“We’re getting a lot of people coming to us saying they can’t sell their property, it’s all ready to go, and it’s just not moving or bringing in any rental income” said The Stay Hub’s group general manager, John Moffett. “They’ve been faced with having to take it off the market until summertime because they aren’t finding buyers that will meet their expected price, or they need to make some income because their interest rates have gone through the roof. Some have vacant or soon-to-be vacant properties, or they’re relocating.”
In these instances, The Stay Hub’s message to homeowners and investors is clear: “If your house is sitting there and not selling, make some money out of it while it is up for sale. Don’t have it emptying your pocket because it’s taking longer to sell.”
With over 200 properties under management and many years of experience, The Stay Hub believes it’s the perfect solution for property owners selling in a struggling housing market or simply looking for a higher yield. The company manages everything from studio apartments in the CBD to large executive homes in the suburbs, catering to a diverse range of travellers and generating impressive returns for owners.
“We’ve had properties turn over $200,000 in annual revenue,” says Moffett, citing an example of a villa in Kingsland. “Owners typically walk away with 60-65 per cent of total revenue.”
He claims this potential for higher returns has attracted a diverse range of property owners, from “mum and dad” investors through to property developers with multiple units.
The Stay Hub handles the global marketing of each property, cleaning after every guest stay, routine maintenance, and revenue management.
Leveraging leading industry technologies, in-house analysts optimise occupancy and average daily rates around seasons, weekends, events, holidays, and key booking drivers. They also have a team of dedicated property managers who give owners back the value of their free time.
“We have access to data on 7000 short-term rental properties through our technologies,” Moffett says. “This allows us to quickly adapt our approach based on market trends, maximising returns for property owners.”
Eric Hammond, the visionary behind The Stay Hub, started the company after finding success himself on platforms like Couchsurfing. People can also use The Stay Hub website directly to book.
“Our portfolio spans from Whitford to the far reaches of West Auckland and up north, encompassing every type of property imaginable. We also have short-term rentals in Taupo, which is a tourism hotspot”,” says Moffett.
The type of guest that stays in The Stay Hub ‘s properties varies: “We ride the same wave as hospitality and retail, catering to leisure travellers on long weekends, families attending reunions, and corporate travellers seeking alternatives to traditional hotels. We also partner with businesses and organisations up and down the country to provide regular accommodation options for business travel.”
Despite recent economic challenges, Moffett is optimistic, saying the company’s success is built on its ability to adapt to changing market conditions, with occupancy and daily rates fluctuating naturally throughout the year.
“April and May were soft, but July and August are looking promising. People are adjusting to new spending levels and realising they still need to travel, whether for business or pleasure. Nearing November, peak short-term rental season also hits, with larger numbers of travellers coming through the border for our warmer months.”
As for wild parties or unsavoury guests staying in its properties, The Stay Hub says that’s not usually a problem for the people on its books: “We reach out to neighbours, providing our contact details for any concerns. We’re available 24/7.”
If homeowners are worried that their property might not be in the right part of the city to be popular, they needn’t be. Often location doesn’t matter, says Moffett.
“Don’t think your property won’t be rented because it’s in Avondale and not near the city centre or the beach. In the suburbs, we find people are looking for rentals near specific schools or for family visits.”
The length of time a house can be submitted for short-term renting can vary. The Stay Hub tries to be as flexible as possible and, while the company prefers 12-month commitments from property owners, it’s open to shorter terms depending on circumstances.
“We understand some owners may be waiting for the sales market to improve and we can manage properties in the interim, providing income until the market turns around. Just go to the website, fill out the form, let us know you’re there, and we’ll come and talk to you.”
The Stay Hub believes many people could quickly find that their unsold property becomes a valuable asset with short-term renting, generating income until it’s the right time to sell.
For more information visit thestayhub.co.nz/