Investing in an Airbnb in Rotorua, New Zealand

[Bridget78]

Hi all, 

We are considering investing in a property in Rotorua, New Zealand for the purpose of placing it on Airbnb.  I would be grateful for any advice on any of the following from those who have experience in this region:

- where to best to obtain statistics on occupancy rate? (I've heard of Airdna. Has anyone used that?)

- how much should we allocate for expenses such as wifi, heating, water, power etc? (I've calculated $2800 but am wondering if that's not enough)

- are there any suburbs that you have found to be most popular? (We have been advised that anywhere lakefront, Lynmore, close to CBD and Ngongotaha are good)

- we've been advised that a 3+ bedroom property will be most lucritive. Would you agree?

- any recommendations for the best insurance companies to cover home/contents insurance for Airbnb?

- do any of you have meth-testers in your properties and if so, which brand do you recommend?

Regards

Bridget

[Carmen527]

Hi Bridget, 

I would totally recommend investing in Rotorua. I manage a property in Kawaha Point (where I believe is the best place to have a property ie close to city center, supermarkets and the most popular tourist activities and lovely lake views) the house is quite large and we achieve approx 90% occupancy every week (approx 60% in winter). With so many holiday properties here, competition is high, but as a seasoned host and interior designer I believe success lies in presenting a clean and appealing home with full amenities and that it is crucial to have host to meet n greet and look after guests.

If you are looking for someone local to help in set-up, house selection or hosting, please check out my site : www.furbishmyhome.com. I currently offer Co-hosting at 15% as a start rate.

Airdna is a great source of statistical information, so all the best with your search 🙂

Carmen

[Pete28]

Airdna doesn't know if a date is booked, or the calendar is blocked. From looking at my own listing on Airdna it is 20%+ off, so not very accurate 😞

Look at long term rent as a baseline - you never know what legislation may impact you for STR, and how long you want to do it. Many cities have restricted number of days etc.

STR is then a high risk, high reward activity. If in doubt read the many issues people have had with cleaning, bad guests, damages, lack of Airbnb deposit etc. You will make more money, but at risk.