Airbnb Rules in Melbourne
Before you start to invest in a property in Australia, particularly in Melbourne, the primary key metrics that all investors need to know should be considered for a successful investment! In this article, we will feature some of the essential Airbnb metrics such as average daily rates, monthly revenue, and occupancy rates in Australia.
Continue reading to learn more about Airbnb rules in Melbourne and learn more about profitability in this city!
Is Airbnb legal in Melbourne?
Let’s cut the story short: Yes, Airbnb is certainly legal in Melbourne! With a shocking number of 36.5 million visitors annually, Melbourne is truly a profitable city to do Airbnb. This city constantly attracts more tourists to book accommodations to visit The National Gallery of Victoria, Royal Botanic Gardens, Federation Square, and see other tourist attractions.
Here is a little proof! As of July 2022, there are 124,150 nights available in Melbourne from Airbnb alone. Valeria manages 144 listings, while MadeComfy and Dave operate 115 and 78 respectively.
How much can I make by running an Airbnb in Melbourne?
Currently, there are 7,931 Airbnb listings in Melbourne, with 58% of entire houses earning up to A$3,459 a month. The Average Occupancy Rate in Melbourne is 51% and the average daily rate is A$141. According to vacation rental market data source Airbtics, a 2-bedroom apartment in Melbourne can make up to A$49,651 each year. Check out our Airbnb Profit Calculator!
What Are The Short-term Rental Accommodation Policies in Melbourne?
- Short-term rentals and short stays are considered as accommodation and residential buildings by the Victoria Planning Provisions. This means that a planning permit is NOT required to operate a short-term rental.
- The city of Melbourne does not impose any night limits or other restrictions on short-term rentals.
- If an apartment is issued with three breach notices in a 24-month period, Victorian Civil and Administrative Tribunal (VCAT) will be able to make orders restricting that apartment from being let for short-stay purposes for a period of time. The breach notices must be issued for separate events (rather than a single event which attracts multiple complaints).
- According to the City of Melbourne and Consumer Affairs Victoria, there are no current zoning restrictions for short-term rentals or short stays in Melbourne.
