Holiday Rental

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The international DJ Carl Cox and the veteran music promoter Richie McNeill, who started music festival Stereosonic, are selling their successful holiday rental accomodation in the Victorian Alpine.

They’re seeking for over $2 million for the Myrtleford property which they had built in by the Windsor-based RAID Studio, after the pair paid $210,000 for a vacant two hectare block back in 2009.

Since 2013 it’s been a successful high-end holiday rental, known as Tatoonie, which gets booked at over $700 a night midweek and $2,200 for two nights over Friday and Saturday.

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Offered fully furnished, the home is split in to an east and west wing to divide the accomodation and living spaces.

The east wing is made up of four bedrooms, including two master bedrooms, a queen bedroom and a bedroom with four king single bunks which allows for rentals up to 13 guests.

The west wing is the living space which has a home office, and the hub of the living space, an open plan main kitchen, living and dining area with polished aggregate floors, created using local stone, with in slab floor heating and an open fireplace with woodbox.

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The concrete kitchen bench top with wooden breakfast bar matches the hand made wooden table. The space opens to an outdoor deck with in ground salt chlorinated swimming pool, an outdoor shower, toilet, four person sauna and an outdoor barbecue.

In the grounds there’s a custom colorbond grey shed.

Ray White Myrtleford agents Sandra Dondio and Scott McMasters have the listing.

Cox has owned a home on the Mornington Peninsula since 2006 when he bought a home in Frankston South where he has spent his time during the COVID-19 pandemic.

<h2>Properties in Victoria selling now:</h2>

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They’re seeking for over $2 million for the Myrtleford property which they had built in by the Windsor-based RAID Studio

Joel Robinson

International DJ Carl Cox and veteran promoter Richie McNeill list Victorian Alpine holiday let

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The popular ARIA-award winner Tones and I has returned to her roots where she made her name as a singer.

The pop singer, whose real name is Toni Watson, has spent $3.3 million on two holiday rentals on the same block just out of town. The homes, known as Starr Cottage and Skye Lodge, share the 1010 sqm parcel.

She's understood to be honouring rental bookings for the properties, with Starr Cottage still available to book at $880 a night. However, despite bookings coming up, Skye Lodge is no longer available for further bookings.

Skye Lodge (pictured top and below) is the grander of the two homes, comprising six bedrooms and three bathrooms, a media room, games room and its own pool. 

<img alt="" height="796" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/skye_lodge_2.jpg" width="1200">

Starr Cottage has four bedrooms and two bathrooms, including a private parents retreat upstairs with ensuite. The lounge opens to private backyard with a swimming pool set in established gardens.

On the property is a separate self-contained one bedroom managers quarters with its own private courtyard and entry. 

Marketed as ticking all the boxes for an investor, owner occupier or holiday maker, both homes have been renovated in keeping with their heritage features including tongue and groove VJ walls, double hung timber windows, ceiling roses and hardwood timber floors.

Watson bought the property in a company name, Johnny Run Away, the name of her debut single released last year. The music video depicts her time busking in Byron, with her CD’s available at $10.

Last year Tones spent $5.1 million on a five bedroom mansion in Melbourne Mt Eliza, the suburb where she was born.
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The pop singer, whose real name is Toni Watson, has spent $3.3 million on two holiday rentals on the same block just out of town



Tones and I spends $3.3 million in Byron Bay

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The New South Wales government have released the draft code for the Short-term Rental Accomodation (STRA) industry.
"Compliance with this code is mandatory for all short-term rental accommodation industry participants," the code reads.
One of the biggest changes will be an exclusion register, publicly available online which will list banned hosts and guests.
The bans, that last five years, will be administered on a strike process.
Two strikes in a two year period will put the guest or host on the register.
The commissioner for Fair Trading in the NSW Department of Customer Service is tasked with administering the code.
The STRA industry is estimated to be worth $16 billion to the NSW economy, nearly half of the  $31.3 billion national worth. 
The 16 page draft code put forward four objectives of the new regulations.
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set out the rights and obligations of short-term rental accommodation industry participants
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provide for resolution of disputes and complaints concerning the conduct of short-term rental accommodation industry participants
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outline the compliance and enforcement approach that applies for contraventions of the code by short-term rental accommodation industry participants
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facilitate the oversight of the short-term rental accommodation industry.
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Greg Channer, managing director of Wollongong holiday home property manager <a href="https://www.emeraldaqua.com.au/" target="_blank">Emerald &amp; Aqua</a>, said the company welcome the draft code for the Short-term Rental Accomodation (STRA), having been engaged in the review process which began in 2015.
​“The short term rental accommodation is a key driver of tourism in rural and regional NSW and clearly the impacts on residents amenity resulting from inconsiderate or anti-social behaviour by some short-term rental guests needs to be addressed," Channer said.
"The industry is being held accountable for poor guests’ behaviour, it's these few guests and the culture of party houses that needs addressing. “
Channer suggested the current draft code does not go far enough to protect the amenity of neighbours and residents.
"Booking platforms need to take a greater responsibility for unreasonable disturbance, remove ‘Instant Booking’ features and ensure property managers speak with each guest prior to accepting their booking request and qualify the reason and nature of their stay.”
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Channer estimates the STRA industry in the Illawarra generates around $3.7 million a year to the local economy directly to the area's cafes, restaurants and tour operators.
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jrobinson-rf4aSBido9

NSW release draft code of conduct for short term rental accomodation

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The New South Wales Government are set to introduced a regulatory framework around short term rental accomodation (STRA).
The industry was estimated to be worth $31.3 billion nationally in 2016.
New South Wales alone made up around half of that figure. Sydney ranks as one of Airbnb’s top ten cities for most properties on the platform. In June 2018 the <a href="https://www.urban.com.au/news/84697-nsw-puts-cap-on-airbnb-rentals-with-local-regional-councils-set-to-follow" target="_blank">NSW government put a 180-day cap</a> on the number of empty days properties can be rented out by Airbnb in Sydney.
It also gave strata corporations the power to ban Airbnb in their buildings if 75 percent of owners seek the ban.
The government are now set to implement a new regulatory framework at some point this year which includes a mandatory code of conduct, new planning instruments and a possible register of all STRA properties.
Kevin Anderson, minister for better regulation, encouraged anyone with an interest in STRA — whether they be hosts, guests, neighbours, industry associations or booking platforms — to <a href="http://www.fairtrading.nsw.gov.au/" target="_blank">have their say while consultation is open</a> on all elements of the new framework.
“The mandatory Code of Conduct will facilitate oversight of STRA providers, including providing for the resolution of complaints and disputes regarding the conduct of hosts and guests,” Anderson said.
 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/8/14/STRA%20framework.jpg" alt="">
The code will establish a ‘two strikes and you’re out’ policy.
Hosts or guests who commit two serious breaches of the code within two years will be banned for five years.
Platforms and letting agents will not be permitted to offer services to anyone, or any dwelling, that is listed on the exclusion register.
A strike will include any behaviour which unreasonably interferes with a neighbour’s quiet and peaceful enjoyment of their home.
“Under the Code, all participants will be required to act honestly and in good faith and comply with directions and requests from the Commissioner for Fair Trading," Anderson added.
“Hosts’ obligations relate to holding an appropriate level of public liability insurance and providing neighbours and owners corporations with information such as the host’s contact details, and that they are bound by the Code of Conduct during their stay.
"Guests will have to ensure their behaviour does not unreasonably impact on neighbours and will be required to take reasonable care of the property.
“Our proposal includes making the industry responsible for funding, developing and administering the register – with any registration system applying to all STRA properties, including those let through online booking platforms,” Anderson said.
Stayz has welcomed the registration proposal.
Stayz corporate affairs director, Eacham Curry said that while the details will still have to be worked through, the proposed industry-led registration system is an innovative approach to co-regulating the sector.
“By clarifying the boundaries of our sector, a simple register of all holiday rentals has the potential to ensure that local governments, communities and our industry can work together to improve amenity and make more informed decisions about urban planning," Curry said.
"We look forward to working with the NSW Government and other stakeholders on designing a nation leading registration system."
More information on the Code of Conduct for STRA can be found on the Fair Trading website at <a href="https://www.fairtrading.nsw.gov.au/" target="_blank">www.fairtrading.nsw.gov.au</a>.
 
 
 
 
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Airbnb short term rental rules in New South Wales get closer

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With the imminent return of SeaChange to television, Barwon Heads could be back in the spotlight if the Channel Nine series films again in the coastal Victorian location. 
Some property commentators have calculated Barwon Heads prices have outdone Melbourne's during the intervening two decades.
One recent sale was the holiday rental home known as Cottesloe Beach Shack for $900,000 to Northcote buyers, showing sizeable price growth. 
The cute Cottesloe Drive cottage last traded at $500,050 in 2010 when bought by a Richmond couple whose saw its rental income jump to over $50,000 a year.
It sold at $275,000 in 2004 and before that in 1971 at $1100. It once featured on Channel Nine's Postcards, albeit with Glen Moriarty, not Bec Judd, singing its praises.
Nestled within native landscaped garden, the main home has three bedrooms and two bathrooms, the main eco-ply designed.
An open plan living and dining area that adjoins the galley-style kitchen opens to the front deck and garden.
There is a one bedroom bungalow tucked away in the topiary.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/15/cott2.jpg" alt="">
The backyard features a fire put, raised veggie patch, fruit trees, sandpit and manicured garden beds. 
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j.ballantyne1990-6AQqhLzZaK

Barwon Heads beach shack sold for $900,000

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Buyers are slowly getting back in to the holiday home market after it took a dive post GFC when no one wanted their own holiday home.
Discretionary spending was tight following the global financial crisis and people weren't spending money on holidays.
That was difficult for the many who relied on holiday rental income to keep the escape home.  
Last year it was tipped that the 2016 holiday market will be busy due to the extra wealth that homeowners in Sydney and Melbourne have acquired over the past two years through the housing boom.
A popular haunt for Sydney siders who don't head north for the summer is Hyams Beach, one of the south coasts biggest draw cards.
Offering direct beach access to Hyams Beach from its exclusive position, <a href="https://www.realestate.com.au/sold/property-house-nsw-hyams+beach-125796122" target="_blank">94 Cyrus</a> recently sold for a record $3.5 million.
The home was only completed in June and was built and fully landscaped by Tim Clout, one of the best builders in Jervis Bay.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/28/Hyams2.jpg" alt="">
It last traded for $1.7 million in 2014 as a vacant 880 sqm land parcel.
The home has four bedrooms, three bathrooms, a large front deck, covered walkways and a swimming pool.
Comparable homes in Hyams Beach would generate over $110,000 per annum, with a peak weekly rate of around $6,500, according to the marketing.
South Coast Properties agent Craig McIntosh sold the home after $3.5 million hopes.
Cyrus Street is the localities millionaire's row. The top 10 most expensive homes in the area have sold on the street.
94 Cyrus would set the price record that has barely been challenged since 2007 when Elandra, a seven bedroom home seven doors down sold for $3.44 million.
It was bought by former bankrupt Keddies partner Scott Roulstone and wife Kathryn.
Last year another Cyrus Street home fetched $2.86 million. 
This article was first published in The Weekend Australian. 
 
 
 
 
 
 
 
 
  
 
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Cyrus Street home fetches Hyams Beach record

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Sydney is ranked the second highest city to recoup investment on a home using a peer to peer rental service like Homeaway or Airbnb with an expected yearly return of 11.96 percent.
A study by peer-to-peer motorhome rental platform SHAREaCAMPER found Frankfurt, Germany, is the best city to pay off a home using a peer-to-peer rental, with 13.48 percent expected yearly return.
The study ranked 31 cities by analysing the ratio of market to P2P rental prices, including any fees paid by the owner, for more than one thousand homes per city. Cities were ranked by a grand total of the time needed to recoup investments, based on the return of investment percentage, according to the occupancy rate.
<a href="https://www.propertyobserver.com.au/images/2017/06/13/Screen%20Shot%202017-06-13%20at%2010.39.12%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/13/Screen%20Shot%202017-06-13%20at%2010.39.12%20AM.png" alt="">
SHAREaCAMPER CEO Florian Dahlmann said the sharing economy offers great individual experiences as well as flexibility.
"With peer to peer rental, people can make memories in the home they’ve always dreamed of owning," he said.
"Similarly, everyday people can pay off investments simply by renting out underused assets.
“The biggest lesson of our research is that you don’t need to charge exorbitant rental rates to pay off your investment.
"We are huge fans of win-win situations like this and we hope this research encourages development in more hesitant markets."
"Sydney placed second for ROI on P2P home rental with a projected 11.96 percent adjusted rate of yearly return.
"Boston had the lowest ROI followed by Paris and San Francisco."
A Perth accomodation host has lost a court battle to be allowed to let his Rivervale apartment to <a href="https://www.urban.com.au/news/71628-perth-unit-owner-loses-battle-to-rent-out-using-airbnb" target="_blank">short-term tenants through Airbnb</a>.
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jonathanchancellor-7SQnKwU6yx

Sydney, Perth top 10 worldwide to make an income using services like Airbnb

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Despite longingly looking into estate agency window displays for beach shacks whenever we are holidaying up or down the coast, most of us baulk at buying.
Nationally around 560,000 Australians have a holiday home.
Melburnians twice as likely to have a holiday home, data from Roy Morgan Research suggests.
It found five percent Melbourne residents have one compared to 2.8 percent of people in Sydney.
They can, after all, be pricey and problematic.
Over the Easter break, I was weighing up their pros and cons recalling the analysis of Pitcher Partners accountant David Staples cautioning would-be buyers to do the sums as rather than offering sanctuary and status, the reality could be a financial black hole.
“It’s generally a lifestyle choice rather than an investment,” he suggested. 
The much voiced downside owners actually complain about is that all their time is spent fixing up and maintaining their holiday homes and not enough on the leisure side.
Then there's also the daily obligations of cooking, cleaning and laundry. 
Getting the food, booze and other supplies from a local shopping centre amidst hoardes of holidaymakers can be a endurance test.
Rental returns typically can cover most costs - from maybe around eight to 10 weeks a year with renting demand lower during off season when the owner gets to enjoy the cooler conditions in their musty clothes.
Normally you'd expect a net annual yield of no more than 2 percent, even if commanding weekly rents of $2000 plus in peak periods.
Of course there's always the chance of using the income for a quick ski trip to Whistler while the tenants swat away the Christmas holiday blowies.
But the expectations of holiday guests has risen so costly household items once considered extras such as air-conditioning, a dishwasher and a huge gas barbeque are now essential.
The Nepresso machine will soon be mandatory for the vacation crowd.
Being in one location for vacation year after year can be a delight for some, safe and routine with a good book selection to catch up on, along with the scrabble and monopoly board games.
Providing just the necessary break from the hustle and bustle of the city for disconnected families, ideally, its driving distance from Sydney should not be much further than two hours if it's a true weekender.
Senior executives who take their laptop workload can enjoy regular long weekends - and envisage their eventual seamless sea change shift.
For others constantly returning to the same holiday spot is not on.
Especially when inexpensive travel deals offer destinations with hotels and resorts providing high end holiday options and staff that take care of everything.
According to Pitcher Partners, the money spent on an average holiday house could pay for about 90 days a year in a quality hotel.
The owner would need to spend their four week annual holidays, 10 public holidays and 19 weekends at the holiday home to justify the cost.
This article was first published in the Saturday Daily Telegraph.
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