Guide to renting out your holiday property in Byron Bay
Thinking of turning your Byron Bay property into a holiday rental? With its stunning beaches, thriving tourism scene, and year-round appeal, Byron is one of Australia’s most desirable destinations for short-term stays. Whether you’re looking for extra income or want to make the most of your investment, here’s everything you need to know to get started.
1. Consider a long-term rental
Short-term holiday letting isn’t for everyone and that’s completely okay. Managing guest turnover, housekeeping, maintenance, and compliance with new regulations can be time-consuming and may not suit every property owner’s lifestyle or values.
Housing in Byron is a hot topic, with more holiday rentals meaning less space for permanent homes. In a region like Byron Bay where housing is increasingly scarce for local residents, choosing a longer-term rental model also helps support the local community. Tourism is vital for our little slice of paradise, but we also want to keep Byron Bay vibrant, accessible, and inclusive for everyone.
2. Understand the STRA (Short-Term Rental Accommodation) Regulations
In Byron Bay, holiday letting is regulated under the NSW Government’s Short-Term Rental Accommodation (STRA) rules, with additional local restrictions set by Byron Shire Council.
As of September 2024, many properties in the Shire will now have a cap of 60 days for non-hosted Short-Term Rental Accommodations (STRA) in a year, down from the current cap of 180 days. The changes do not affect hosted STRA where the host lives on the premises and some select areas of Byron Bay and Brunswick Heads with high tourism appeal. These changes aim to strike a balance between sustainable tourism and housing concerns.
3. Prepare your property
Before welcoming guests, make sure your property is:
- Professionally cleaned and styled
- Stocked with high-quality linen, towels, and toiletries
- Equipped with essentials like WiFi, kitchen basics, heating/cooling, and safety gear (smoke alarms, extinguishers)
- Presented with beautiful photography
- Determine your house rules
Another thing to note is regular home insurance won’t cut it. You’ll need to look at holiday rental insurance.
4. Set the right pricing
Pricing your holiday rental correctly is key to attracting bookings and maximising returns. Start by researching comparable properties in Byron Bay. Consider factors like location, number of bedrooms, amenities, and seasonality. Your pricing should reflect local demand, including peak periods such as school holidays, festivals, and long weekends. Dynamic pricing tools or working with a property management team like Beach Houses of Byron can help you adjust your rates in real time to stay competitive and avoid undercharging or pricing yourself out of the market.
5. Decide how hands-on you want to be
Do you want to manage everything yourself or outsource it?
Every owner has unique needs and preferences when it comes to managing their beloved holiday property. While we offer end-to-end property management services our clients are able to choose their preferred level of service. This might be a complete hands off approach where we take care of everything from cleaning, maintenance and guest communications, or you might simply need the guest communication essentials. Your property will receive the level of care and attention it deserves while giving you peace of mind and flexibility as a property owner.
6. Market your property
Marketing your holiday property effectively is essential to standing out in Byron Bay’s competitive short-term rental market. You’ll want to showcase your property’s stand out features and nearby attractions across platforms such as Airbnb, Booking.com, Instagram, Facebook and email marketing.
That’s where Beach Houses of Byron comes in. Our expert team handles everything for you, from professional photography to strategic promotion across all the important platforms and our own website. We also use targeted social media campaigns, email marketing, and search advertising to reach the right guests at the right time.
Renting out your holiday property in Byron Bay is a fantastic way to generate income and share a slice of paradise with others; but it comes with responsibility. Staying on top of local regulations, pricing strategically, and delivering an exceptional guest experience are key to long-term success.
