Case Studies
About Peter, Elwood, VIC
Peter and Katy have a 1 bedroom investment property in Elwood. They engaged Ready Set Host as they had decided to move to Tasmania, and their tenant has just moved out.
This was perfect timing as Katy was still employed in Melbourne and needed to have frequent use of their investment property, while also earning revenue from the property when she wasn't using it.
Peter and Kay engaged Ready Set Host as they didn't have the experience, time or resources necessary to manage their property for short stays residing in Tasmania.
Why Ready Set Host
Ready Set Host are experts in the Short Stay Market in Melbourne and are able to analyse the market and develop a custom strategy to ensure you earn more no matter your requirements.
The Challenge
Katy was using many week days leaving many gaps throughout the year, but Peter also wanted to bring in the best revenue possible for the investment property.
Execution and Delivery
We developed a custom strategy for the property, to allow us to book as many dates as possible and provide Katy with the ability to use the property when she needed.
Results
- Katy used 55 days over 237 days from Oct 2019 to May 2020.
- Katy occupied the property for 23% of the time the property was available over 19 seperate stays.
- The property was booked by guests for 67 nights during that period, with an occupancy rate of 37%, booked around the 19 seperate unavailable dates.
- Peter's property earned an average of $473 per week, and the estimated long term rate for this property is $330 per week before agency fees and marketing costs.
- Peter and his Katy earned 43% more through short stays over long term rent, with heavy use of the property.
Want to see the full potential of your property?
* Use your property and earn more with us!
Contact Ready Set Host today and receive a free property analysis and strategy session!
About ​Lianne & Craig, Cheltenham, VIC
​Lianne and Craig have a 2 bedroom apartment in
St Kilda that they invested in using their Self Managed
Super Fund. Their lovely spacious apartment was being managed by a competitor and we transitioned the
account smoothly and without any impact to the Owner or Guests.
Why Ready Set Host
​With confirmed and analysed demand for short stay accommodation, Ready Set Host puts it’s Hosts in the box seat to capitalise on higher returns than traditional long term leasing. Not only a return on rent received, but also with the ability to depreciate assets, as advised by your registered Tax Agent.
​The Challenge
​St Kilda is a fantastic location and the apartment is positioned on famous Fitzroy St, buzzing with fantastic restaurants, cafes and bars. It’s a fantastic location attracting both business and leisure stays being only 15 minutes from Melbourne CBD, 5 minutes from St Kilda Road offices and 5 minutes away from St Kilda beach, and right across the road from Albert Park.
It is such an amazing apartment and location, however the Airbnb listing was not living up to its true potential when managed by our competitor, receiving a low review completion rate and low amount of 5-star reviews, and ultimately never reaching the top tier of listings, known as being a Superhost.
Execution and Delivery
​It was our aim to improve the review rating and completion rate through a strategy that included a mixture of price, housekeeping and guest relation changes.
​Results
- ​​​12​3% increase in review rating.
- ​20​8% increase in review completions.
- Approved as a Superhost in less than 6 months.​
​Before
​After
​Want to see the full potential of your property?
​Contact Ready Set Host today and receive a free property analysis and strategy session!
About Kazuhiro, Cheltenham, VIC
​Kazuhiro had purchased a brand new 2 bedroom apartment in Cheltenham, which he was doing the interior design and photography on his own and wanted to have it ready for guests within 2 weeks. However, Kazuhiro had concerns about the location and if he could attract short stay bookings consistently and to provide him with a better return than long term leasing. We re-assured him that better returns are possible and Ready Set Host do not take on any clients that we do not believe will do well.
Why Ready Set Host
​With confirmed and analysed demand for short stay accommodation, Ready Set Host puts it’s Hosts in the box seat to capitalise on higher returns than traditional long term leasing. Not only a return on rent received, but also with the ability to depreciate assets, as advised by your registered Tax Agent.
​The Challenge
​Cheltenham is 21km from Melbourne CBD. It is close to Southland shopping centre, great restaurants and cafes, but it is quite a residential area.
We implemented our start-up strategy to attract initial guests and implemented a pricing strategy that would maximise rental income and long term occupancy rates.
Execution and Delivery
We built a custom strategy that would entice guests to book as close to the initial listing date as possible while considering competing Airbnb properties in the area. Then once the initial bookings were obtained adapted to improve higher returns and occupancy rates.
We kept Kazuhiro informed all along the way, so he could relax and know everything was being taken care of!
​Results
- ​First stay within 8 days of being listed.
- ​$14,471 Rental Income for the first 4 months.
- ​89% Occupancy rate for the first 4 months.
- ​238% better return than long term lease at $380 per week.
​Want to see the full potential of your property?
​* Get up to 238% increase in your weekly rent!
​Contact Ready Set Host today and receive a free property analysis and strategy session!
About Chris, Footscray, VIC
Chris purchased a brand new 3 bedroom apartment right in the heart of Footscray. Ready Set Host with it’s own interior designers styled this stunning and stylish space, ensuring his guests a WOW experience. The Ready Set Host team got to work quickly designing the apartment to feel open, welcoming and providing a relaxing atmosphere.
​Why Ready Set Host
​We have our own interior design team that are able to get your apartment designed and delivered in a short amount of time. Our expertise help provide 5 star hotel-style services which will help our hosts improve listings and maximise rental income.
​The Challenge
​Footscray is an up and coming area that is becoming trendier every day. It has a young demographic, is close to Flemington racecourse and only a short distance from Melbourne CBD. It was very important for us to design the apartment in a way that would let it stand out amongst all the other listings in the area. Having received access to the apartment in the middle of peak season, we wanted to get the fit-out completed as quickly as possible, in order to capitalise on the high demand through the summer months.​​​​
​Execution and Delivery
​We designed a fresh modern feel that is spacious and refreshing in a busy location. Our team provides a custom quote for every project.
We take care of everything for you, including trade works, acquiring furniture and being guest ready as quickly as possible.
​Results
- ​First booking within 7 days of being listed.
- $2376 Rental Income for 14 nights booked.
Before
​After
