Investing in Canberra short-term rentals: key considerations
Are you looking to make an impactful investment in the Canberra short-term rental market? Before diving headfirst into Canberra property investment, let’s first look at what Accommodate Canberra would advise you to consider when buying a short-term rental investment property in Canberra.
Canberra: A City of Opportunities
As the nation's capital, Canberra's short-term rental market thrives on its unique blend of government services and cultural richness. Its rich cultural and historical attractions continue to draw tourists all year round.
Canberra is the home to most of Australia’s national cultural institutions, such as:
• National Gallery of Australia,
• National Library of Australia,
• National Arboretum,
• Australian War Memorial, and
• National Museum of Australia.
Canberra is home to five universities:
• Australian National University,
• University of New South Wales,
• Charles Sturt University,
• Australian Catholic University, and
• University of Canberra.
Thousands of students, academics, friends, and family are looking for accommodation in Canberra.
And this is before you factor in that it is home to almost all the Embassies based in Australia. It acclaimed great festivals such as Floriade and the National Folk Festival, amazing food and drink, natural attractions such as our amazing urban trees (especially in Autumn), walking and cycling paths, and bushland.
Ok, so we’ve established that Canberra is a destination that needs short-term accommodation, so what do you need to look for when you are planning to purchase an investment property?
Choosing the Right Property: Location and Features Matter
The types of properties in the short-term rental Canberra market vary significantly. However, apartments in city centres tend to do well. Proximity to shopping districts, public transport, and restaurants can increase a property's appeal. If you want to buy a property with these features, we recommend consulting with a local real estate expert such as Maloney’s Property.
Property Management: The Key to Success
Investing in a property is just the beginning. How you manage that property could determine its success as a short-term rental.
A crucial aspect to remember is understanding and complying with local regulations and laws. Canberra has unique short-term rent laws, including restrictions on the days somebody can rent out a property and mandatory registration requirements. These laws ensure community harmony, safety, and respect for neighbours.
This is where professional property management becomes essential. At Accommodate Canberra, we offer a comprehensive short-term rental management service. We handle everything from property marketing, bookings, and guest communication to property maintenance and compliance with local laws. Our knowledge and expertise can alleviate the stress of managing a rental property while helping you maximise your returns.