Why has no one asked me how I earn $10,000 a month for studio apartments?

I must have to be on a computer, I am on my phone.

It works from a phone too :slight_smile:

I go on my site and donā€™t see any url anywhere to copy. I am not usually totally inept on computers or phones. My daughter has helped me through most of the process with Airbnb. Including sharing. I am just learning to navigate this site. Do I reply on the whole thread or just to whom I am responding?

We go by the Airbnb definition of Villa so by that account I am also a little confused as to the term being applied to studios. I would think bungalow would be a more appropriate term.

You could reply to Poppy if but others will critique your listing if you post it so it doesnā€™t matter.

I donā€™t recall seeing that post, @Poppy, but I would like to know more. I know you manage all of them remotely, if I remember correctly.

Can you tell us the general location of the units and how remote you are from them?

I am not looking for congratulations, my curiosity was piqued that my other post has had 3K views but no one asked me about the money the ā€œvillasā€ earnt.

I have been a short stay property manager for over 4 years and started my business as I couldnā€™t find anyone to manage my inner city home while I travelled.

I only earn 20% of the gross income and it is just pocket money, itā€™s definitely not the money I travel on. Itā€™s just a little business that keeps me amused for a couple of hours a day.

To clarify, a villa is a real estate term for a unit; single story, ugly as sin on the outside 1970ā€™s brick unit. One strip where I manage two units consist of 4 units side by side with a driveway going up the side. The two I manage are side by side, separated by a garage. One is a studio, the other is a one bedroom. I often have comments that guests were shocked were they arrived and realised what they had booked, but once they opened the front door their horror disappeared and they were thrilled. Itā€™s all smoke and mirrors.

They earn gross $10,000 a month each, every month of the year, right through the off season (more in summer). They were bought in the last few years for about $300,000 each. Under normal rental they would earn about $1,600 a month.

I do not take all the credit for this, the same person owns the two I am talking about and she has done a marvelous job of renovating and decorating them.

I believe the owner is receiving an impressive return. If your return on a similar property is better I would love to discuss.

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In Australia a bungalow means itā€™s a unit/granny flat in the back yard, behind the main house.

The properties are in country Victoria, Australia. I live an hour away in inner city Melbourne. I visit them once every 6 weeks (if I can get in in-between guests) when I am in Australia. However I often travel overseas for months on end and my guests are never aware that I am not around the corner.

My Victorian house is called Wycliffe Villa. In the UK a villa traditionally means a house slightly out of town (although these days I would be considered pretty central). The most common understanding of the word villa in modern British English is a whitewashed house in southern Europe.

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Then I should double clarify that this is a term that real estate agents have been using in Australia recently to make units sound more fancier than they are.

@Poppy, colour me cynical but this is beginning to sound like the preamble to a sales pitchā€¦ cā€™mon, be honest, are you looking to gather properties for your business?

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I think you will find that there are many users on this forum who make quite a decent amount of money off their income property but generally do not choose to disclose because property is very nuanced and specific to the area, taxes, and market. We have two single family home properties that do about $360,000 USD yearly for us (averaging $15,000 USD per property monthly). Over time, we have been able to make more money and rent it less which is actually most desired for us because it means we spend less on maintenance and more on personal upgrades.

But referring back to the nuance. While one property we have may come with a very high property tax (we take a minor hit in net due to this), what we gain is the ability to hold onto the home one more year. In the three years we have been able to do Airbnb, one of our properties has increased in market value by 1M+ USD. The other (over one year) has increased in market value by $350,000 USD. These are the nuances to renting out different types of homes and developing goals with our prospective clients that are specific to them.

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10,000 Australian $? If so that is about $7300 USD.

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Yes it is Australian dollars. At the moment our dollar is trading lower against the $US but a few years ago we were at parity, so I donā€™t think the trading status of our $ is that relevant.

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@poppy, I also have a unit in inner Melbourne, but not getting anywhere near your returns. Did you have many reviews as a superhosts? Did you have upscale decor? Care to share your listings?

Well it sounds pretty good but $7300 gross and we know youā€™re already getting 20%. Do you know what the net is? Anyway you still havenā€™t told us how you do it, so there is nothing I can learn from you. No disrespect but thus far it just seems like boasting. Iā€™m sure we all have varying degrees of net income and varying factors, some of which are beyond our control, that play into that.

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Yes it is relevant because $7300 is a lot less than $10000.

Well, weā€™re all allowed a bit of that now and again. Maybe not quite so smack in your face as the OP, sure, but letā€™s go for it.
Iā€™ve hosted nearly 1000 guests in my place. Itā€™s a bit rough and ready but Iā€™ve been a superhost 3 times in a row now, for what thatā€™s worth. I earn enough for me. Like someone else said earlier, there is a world of difference between running commercial properties and hosting in your own home. Honestly if youā€™re commercial and only interested in making money, I donā€™t understand why this site is of interest. Sure, weā€™re all doing it for money, essentially, butā€¦ fuck me, if weā€™re going to start showing off how much we earnā€¦ wth?

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The OP may be trying to pitch her property management services. A few folks on this thread are based in Australia, so that might work.