December 2023 Harcourts Move

Hello, and welcome to the Harcourts Move newsletter for December 2023.

As we reach the end of 2023, I wanted to say a heartfelt thank you for choosing us as your managing agents.

It has been a turbulent and challenging year across the globe, and it is in these times we need to reflect on the strength, unity and resilience of our global communities.

From all of us at Harcourts Move, we wish you and your family a very Merry Xmas, and may 2024 bring you all that you wish for.

Thank you for being part of our journey.

Short Term Rentals Update

As the holiday summer season approaches, it’s the perfect time to capitalise on the increase in demand for holiday makers visiting Melbourne. 

MadeComfy, our short term rental business partner, tells us they are “observing an increase in market supply, which correlates with the rise in demand during this period. To keep MadeComfy properties at the forefront of the market, we are actively implementing targeted strategies, and monitoring properties so that we can identify and capitalise on opportunities that maximise both revenue and occupancy rates”.

Their approach includes:

• Regularly reviewing pricing, with an emphasis on reducing premiums closer to the date where required, without compromising returns. 

• Adjusting our minimum stay requirements to cater to varying guest needs, ensuring our offerings remain attractive and flexible. 

• Filling gap nights (less than min nights required for a booking to happen) often with a higher nightly rate. This not only boosts occupancy but also enhances overall revenue potential.

By staying agile and responsive to market trends, our team aims to ensure your property receives consistently high occupancy rates and a strong competitive position throughout the holiday season.

MadeComfy and Booking.com strategy update

A recent change in the Booking.com pricing strategy has resulted in a 120% increase in bookings. The strategy removed MadeComfy listings from the Booking.com’s Genius discount program to focus on a more general pricing strategy for all Booking.com guests. The rationale behind this was that the Genius program was primarily geared towards repeat Booking.com guests and with new data and booking trends indicating a broader guest base would see an increase in bookings via Booking.com, the shift yielded very positive results for property owners. Since October, there has been a doubling in the percentage of bookings made through Booking.com (see graph below).

Need last minute accommodation options for the holidays?

If you, or your friends and family are looking for accommodation over the holiday season, here are some links to some of our properties you may like to stay in. We have over 100 Airbnb properties for guests to select from. Check out the links below to find a great place to stay.

Abbotsford – Steps from Shops – 3 Bed Home with Yard

Docklands – Sleek 1-Bed Apartment by Waterfront Promenade

Port Melbourne – Sophisticated 3-Bed Abode Overlooking the Beach

Southbank – Skyscraper 2-Bed with Great Amenities in Southbank

Southbank – Contemporary 2-Bed with City Views, Gym & Pool

South Melbourne – Chic 2-Bed South Melbourne Terrace with Backyard

And remember, when you use the MadeComfy family and friends discount benefit, you’ll enjoy a 10% off on your booking.

Just use the code COMFYFAMILY

Preparing for the holidays

A reminder that now is the time to ensure all properties in your portfolio are prepared for the upcoming peak season. We advise taking a moment to ensure all properties are equipped with A/C and/or fans, are up to date with any relevant maintenance or pest control, and have everything they need to be fully ready to take advantage of the peak season (spare batteries, light bulbs, etc).

This ensures that ahead of the holiday season you can:

• Identify and resolve any potential maintenance concerns in advance.
• Reduce the risk of unexpected issues or complications.
• Lastly, a quick reminder to please remind owners to remove any unnecessary calendar blocks they may have over the peak season so that we are able to maximise bookings over the holiday period.

The effects of rising interest rates on investors and renters

Whether you own a short-term rental, rising interest rates can have significant implications for both investors and renters in the real estate market. 

For property investors, the impact of rising interest rates is predominantly felt through mortgage rates.

Read more >>

Renting with a purpose

Renting before buying can be a strategic and beneficial step towards securing your dream home in the future. 

In a dynamic real estate market, making the most of your renting experience is a savvy approach that allows you to gather valuable insights, save for your ideal property, and make informed decisions when the time comes to take the plunge into homeownership. 

Read more >>

Harcourts Move Holiday Trading Hours and Emergency Repairs

Our team will be taking a well-earned break at the end of the year and our last day will be Thursday December 21 and the office will reopen on Thursday January 4, 2024. 

For any emergencies during that time, please get in touch with Christina Guirguis on 0481172556  or christina.guirguis@harcourtsmove.com.au.

For any URGENT maintenance repairs, please contact Christina Guirguis using the above details or contact the below trade contacts.

Trades: 

• Plumbing – Matt from MPC 0448484357
• Electrical – Eliot from Evolve Trade 0403300612

Should we not be able to arrange for the repair to be fixed asap, you are able to organise and pay for the repair if the repair does not cost more than $2500. 

For more information on what an urgent or non-urgent repair is, please refer to the information on the Consumer Affairs website.

Thank you for being part of Harcourts Move – enjoy your holidays and I look forward to working with you in 2024.

Until next time, stay connected.

The Harcourts Move Team