![]() ![]() Her advice to landlords is to get the property into a good condition with neutral tones throughout. She says the most popular homes among those looking to rent in Constantia are family homes with three to four bedrooms and reasonably-sized gardens that are available for monthly rentals of between R20 000 and R40 000. In fact, Gilman points out that many landlords are now reconsidering reverting back to the traditional long-term rentals where a consistent income becomes more attractive than the risk of an empty promise. ![]() ![]() “A lot of homeowners who opted for the short-stay option have now had to drop their prices to make their offering more attractive to holidaymakers.” “Many landlords who traditionally would have opted for a long-term rental have done the maths and realised that in a good month with an Airbnb-type option, they could actually make more money.”Ĭaryn Gilman, rental specialist in the Constantia area in the Cape, points out that the sheer number of traditional homes and cottages being offered as an Airbnb option have had some really interesting consequences in the marketplace. “Short-stay rentals on the other hand are seen as a different kettle of fish as they relate more to the tourist industry and holidaymakers,” she says.Įrasmus says one of the great ways of maximising rental returns on a residential property of late is the Airbnb option. She notes that traditionally a home could be rented out for any period, but most landlords would opt for a six-month lease agreement or longer with a potential tenant, also referred to as long-term rentals. “In a number of Southern Suburb territories, more and more landlords who have taken the detour from the traditional route of long-term rentals and are instead renting out fully-furnished rooms, houses or apartments for shorter stays, are now bearing the brunt of the oversupply of these opportunities against a slower demand,” says Gilman. ![]()
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