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Holiday rental platform Stayz is looking to make property investment in the short-term market an increasingly attractive option for Australians.
Their Fast Start program, which has been rolled out in Australia over the past few weeks, is designed to help new properties capitalise on holiday rental demand and create easier pathways to tempt users onto their site.
With potential renters often gravitating towards established listings with high numbers of reviews, Stayz has argued that it can be hard to start up with or switch to a new short-term rental site.
It’s now allowing users to display a “new to Stayz” badge for 90 days while benefiting from being able to display a review score from other rental sites where they may have a more established presence.
The platform will also be boosting visibility of new properties for the first three months and giving new hosts personalised support in optimising their listings.
To be eligible for Fast Start, properties must have earned more than $3,500 in the last year, have received a rating of 4.5 stars or above on other platforms, or be let by a “superhost.” It’s open to both individual owners and multi-property accounts.
Darren Karshagen, Stayz’ director ANZ vacation rentals, noted the program had delivered strong results for property owners when it debuted in France, Canada, and the United Kingdom early in September.
The company anticipates new Australian hosts will similarly see on average a 25 per cent increase in bookings, a 50 per cent increase in booked nights, and a 140 per cent increase in gross booking values, as was experienced by the first participants of Fast Start.
Kevin Locraft, a VP at Stayz’ parent company Expedia Group, said the figures showed Australian home owners and investors would find it easier than ever to leverage their properties on the platform.
“Our data and insights from hosts participating in Fast Start show there are strong positive outcomes not only for the hosts but also for our travellers,” he said, noting that it had been a tumultuous time for anyone who relied on tourism for income.
“For over twenty-five years, it’s been our mission to pair home owners and property managers with families and friends looking for a place to stay and spend time together. That mission endures just as strong today as it did when we started, and we truly appreciate all of our hosts who are continuing this journey with us at such a critical time for the travel industry.”
ABOUT THE AUTHOR
Juliet Helmke
Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.
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