When we think of Airbnb, major tourist spots like Melbourne often come to mind. With millions of visitors flocking to Australia’s top cities like Melbourne, Sydney, and the Gold Coast, there's a big demand for Airbnb rentals. But with so many travellers, there's also a lot of competition among property owners. If you’re looking to invest in Airbnb in Melbourne, it’s crucial to choose the right area and know what you’re getting into.
Why Melbourne is Great for Airbnb Hosting
At RightKeyBnB, we’ve worked extensively in Melbourne’s Airbnb market. From chatting with property owners to sharing their experiences in our blogs, we’ve learned a lot about what makes Melbourne a standout city for short-term rentals. Our experience tells us that Melbourne is one of the best cities in Australia for Airbnb hosting. Despite high property costs, Melbourne remains a strong and diverse market for Airbnb.
Is Airbnb Legal in Melbourne?
Yes, Airbnb is legal in Melbourne. According to The Guardian, there are over 23,000 Airbnb listings in greater Melbourne. That’s a lot of people who’ve decided to rent out their properties for short stays!
How Much Can You Earn from Airbnb in Victoria?
Earnings can vary based on location, property type, and other factors. On average, Airbnb hosts in Victoria earn over $31,000 a year. However, there are significant differences in earnings among hosts. Partnering with an Airbnb management company like RightKeyBnB can help boost your rental income. Reach out to us to learn more.
What Makes Melbourne Great for Airbnb?
Melbourne is more than just a tourist destination. With its rich culture, stunning architecture, and attractions like Chadstone, one of the largest shopping centres in the Southern Hemisphere, Melbourne draws visitors from all over. In 2023, tourists spent around $36.1 billion in Victoria. Melbourne’s Central Business District attracts business travellers, while the city’s natural beauty, world-class hospitals, universities, and other features keep it on many people’s must-visit lists. It’s no surprise that Melbourne consistently ranks as one of the most livable cities in the world.
In Conclusion
Melbourne offers fantastic opportunities for Airbnb hosting due to its strong appeal for business travellers, tourists, and more. If you’re considering listing your property on Airbnb but need help standing out, RightKeyBnB is here to assist. Contact our team today to learn more about how we can help you succeed in Melbourne’s vibrant Airbnb market.