Potential earnings in Richmond Melbourne ( Postcode 3121)

[Anthony1931]

Hi,

We are considering listing our contemporary two bedroom house as a short term rental instead of a long term lease. 

Just hoping to get some insights from other hosts who have properties in Richmond ( or surrounding suburbs) as to what sort of return they are getting, what their occupancy rate is like and if short term renting is proving to be more profitable than long term rental.  

Any insight would be greatly appreciated 

Thanks

Anthony

[Helen3 · Accepted solution]

The best way for you to find out @Anthony1931  is by setting up a profit and loss budget for LTR and STR.

You can check out day rates by searching on STR platforms for comparable properties.

You can buy data from Airdna to help identify potential demand.