The beginner’s guide to holiday rentals
If you’ve never listed your holiday home or investment property as a holiday rental, you’ve come to the right place. Here’s our introductory advice for people just considering the highly profitable world of holiday rentals.
Determine your goals and objectives
You may not think of your holiday home as a business, but you’re about to entering a potentially profitable and rewarding business endeavour. It’s important to set goals so you’re clear on what you expect your holiday rental to achieve.
- How many weeks each year can your home be rented?
- Do you want to just cover expenses or turn a profit?
Check your state’s holiday rental laws
Each Australian state has unique legislation regarding holiday rentals. Check with yours for further information.
Check council zoning
Some councils may require you to seek approval for holiday rentals or short-term leasing. Contact your local council for guidelines and further information.
Set up your business
You may also want to create an ABN. This is essential for dealing with the ATO and will be required to register for GST. Visit the ATO for further details.
Make sure your property’s ready
Think about the furniture, appliances and equipment your guests will expect when they arrive at your property. The property may have been perfect for you in the past, but interstate or international travellers may have different needs.
- Is the kitchen well-equipped with cooking gear, plates and cutlery?
- Have you provided everything guests could need in the bathroom?
- What about linen and pillows in the bedrooms?
- Are there any personal items you need to lock away when you’re not using the property?
Setting up your first holiday rental can take a little time, but if you put yourself in the shoes of your first guest, you’ll find that time can lead to more enquiries, bookings and profit for you.