2023 has been a phenomenal year for The Stay Hub, with bookings up 80% and occupancy still on the rise as we near the end of the year. Compared to 2021, in the midst of the pandemic, The Stay Hub has seen over a 40% increase in average daily rates (ADR) and a 26% increase in occupancy. Whilst ADRs have dropped over winter, we expect to see an increase as we enter peak short-term rental season.
Summer is almost here - are you ready for peak short-term rental season?
OCTOBER BUSINESS UPDATE
For October, across our entire portfolio, The Stay Hub has seen an ADR of $239. One-bedroom properties achieved $145 with an occupancy of 87.2%, two bedrooms sat at $192 with 76.3% occupancy, and three bedrooms took in $311 and 75.4%. For four-bedroom properties, the ADR achieved $405 with a 70.9% occupancy, while five or more bedrooms sat at $546 and 70.2% respectively.
According to AirDNA, the wider Auckland market is currently sitting with a market score of 95 out of 100 for rental demand and a further 95 for revenue growth - one of the strongest in the country. Looking forward to summer, bookings for The Stay Hub are up 59%! If you would like to capitalise on the upcoming holidays and sunny weather, be sure to get in touch for a free property appraisal.
INTRODUCING: JOHN MOFFET
As The Stay Hub's portfolio continues to expand with over 200 properties across the Auckland region, our headquarters also continues to grow. We are pleased to welcome John Moffet to the team as our General Manager.
John comes to us with an extensive background in leadership, management, and marketing. Being a short-term rental owner himself, John understands both the market and the various needs of property owners.
Based out in Mount Eden, John's Airbnb is dubbed "Heron House". This architectural gem was built from the ground up by John, his partner, and a friend.
"The bach is often about the beach, but at heart, we think it’s really about intention. Creating an architecture to shift mindsets from work to relaxation to simplicity, as well as bringing people together. It can happen anywhere.
At Heron House, the ‘beach’ is replaced with a lush, mature garden and distinguished by its tall, asymmetric roofline – the form, a response to council planning controls, turns limitations into opportunities to reach up and out, capturing an easterly view of Maungawhau / Mt Eden, and the softer, eastern morning light.
The internal volume is spectacular. It was instantly nicknamed ‘the cathedral’ by the carpenters who meticulously crafted it."
The Stay Hub is thrilled to have John onboard and we can't wait to usher in the new year with a full office!
SPOTLIGHT ON: CAPILANO PLACE
Architecture and design are two Airbnb categories on the rise and we absolutely love this unique property being onboarded on the North Shore. This three-bedroom abode is nestled in Glenfield and comes complete with a large backyard and an expansive deck looking out into a swarm of greenery. Within a short drive to some of Auckland's most popular beaches and seaside villages, this is sure to be a great escape for summer.
From bamboo houses to cliffside cabins and tiny homes, creative spaces are some of the most wishlisted properties on Airbnb. If you would like to talk to the team about listing your property in the market, you can book a call or free appraisal via our website at www.thestayhub.co.nz.
HAMMOND & CO PROPERTY MANAGEMENT
One of the many great things about The Stay Hub is our close working relationship with our sister company, Hammond & Co Property Management. The yin to our yang, Hammond & Co fills the long-term rental gap in our Auckland portfolio. Being able to offer property owners an unbiased opinion across both the short and long-term markets is something that sets it apart from other property management companies, as is the ability to seamlessly switch between the two models.
If you are unsure which market you would like to explore, our team of experts are happy to discuss which one would best suit your needs, as well as provide an appraisal for both.
"Property management in 2023 and beyond is so much more than simply coordinating tenancies and rent payments. As the rental market continues to change with ever-increasing layers of compliance and legislation, you need to have knowledgeable property management experts taking care of your investment." Gina Colcord — Hammond & Co Business Manager
You can learn more about our long-term sister company via hammondandco.nz.