6 Beautiful Places to Stay in Noosa, Sunshine Coast
- May 11, 2022
Noosa in Queensland is a premier destination for people who love adventure or are just looking to…Read More
Do you have a rental property on the Sunshine Coast? Would you like to make some money with your property? How much do you know about making money with short-term rentals? If you have a property on the Sunshine Coast and are not renting it out, you are losing a serious amount of money. There is so much earning potential with your property that it could be life-changing if done right.
This blog post will explore how to make money with your property on the Sunshine Coast and how to find the right property manager to maximise your earnings.
The property market on the Sunshine Coast has never been better. There are probably no other property markets in the country that have seen a growth rate as high as Noosa Heads. Houses in Noosa Heads are expected to generate an annual rental yield of 2.3% with average weekly rent of around $850. The average annual rental yield for units in this part of the country is 2.5% with average weekly rent of around $670. In terms of property appreciation, houses in this part of the country have seen a compound growth rate of 15.5% whereas units have seen a compound growth rate of around 18.1% (based on 5 years of sales).
The average price of a three-bedroom house in Noosa Heads is around $1.5 million whereas a 4 bedroom house is expected to cost around $2 million. A three-bedroom house is expected to generate an average weekly rental of around $830 whereas a 4 bedroom house is expected to generate a weekly rental of around $900. When it comes to units, the price of a three-bedroom unit is close to $2.1 million whereas a two-bedroom unit is currently priced at around $1.2 million and a one-bedroom unit costs around $645,000. The average weekly rental yield for a two-bedroom unit is close to $625 and the number for a three-bedroom unit is around $925.
In terms of demand, Noosa Heads is a high demand market as more and more people are interested in property in this region compared to the rest of the state. When it comes to the lifestyles of people living in Noosa Heads, around 16.1% of the properties are owned by elderly couples whereas older couples and families own around 14% of the properties here. 9.8% of the properties are owned by independent youth and elderly singles account for 13% of the properties here.
There are plenty of ways for you to make money with your Sunshine Coast property. Here is a list of a few:
This place is a tourist magnet and is visited by tens of thousands each year. However, the hospitality industry doesn’t have enough bandwidth to cater to the demands of the number of tourists that flock to this region. You could do really well by running your own hostel or a bed-and-breakfast. Live the good life and make serious money at the same time.
Another way to make money is by investing in a property to rent out. The average weekly rent for a three-bedroom unit in this part of the country is more than $900 and if you do the maths after accounting for the mortgage and other costs associated with owning a property, you will come out ahead while adding a high demand asset to your portfolio.
If you are a people person and love to explore nature, you can also make a good living by starting your own tour company in this part of the country.
Being a landlord is stressful, especially when you do not live there. However, you don’t need to be physically present to make money with your Sunshine Coast property. You can always hire a professional property management company to take care of things. Here’s what you should look at when choosing a property manager:
Make sure to do your own research and don’t rely solely on the recommendations of others. Don’t forget to check reviews by homeowners as well as guests. Finding reviews shouldn’t be too difficult. Type in the name of the company or address of the property in your favourite search engine and you should be able to find several reviews on popular social media platforms as well as specific review websites.
Get in touch with the company and make sure you know about their business model. Ideally, they should be local and should have good knowledge of the local area. Also, check the number of properties they manage. Ask them to share the contract you are expected to sign. Go through the contract with a fine-tooth comb and make sure you are comfortable with the management fees, termination clause and other important items.
The Sunshine Coast property market is booming and offers an excellent opportunity to make good money and own an asset that is likely to deliver excellent value for the foreseeable future. However, running a short-term rental business requires a lot of time and can be stressful. This is why you need a professional property manager with good knowledge of the local area and a sole focus on maximising your profit.
Noosa Heads offers everything you would want in a beach property. You can find properties for every budget ranging from a little over $300 to more than $3,000 a night. Whether you are looking for a cosy two-bedroom house with an ocean view or a luxurious home or a waterfront property, we have something for you.
BnB Booking is an experienced local property management company. We have been active in this industry for several years and manage several dozen short-term rentals. Our experienced team will help you generate maximum rent from your property.
Please call us at BNB Booking today on 1300 421 029 or leave an enquiry and we will get back to you as soon as possible.