The Fox House was our first foray into property management, and we had no idea whether it would be a spectacular failure or success. Our experience demonstrates how it’s possible to take a completely empty house to the top of the short-term property rankings - in just 10 short months.
Here’s how we did it.
From vacant to #vacationgoals in 10 short months
When we were approached by the owners of The Fox House in Kyneton we could see the potential straight away. Though the house was empty at the time, we had the vision to imagine the space as an inviting short-term getaway that would appeal to a wide range of people; the property was suitable for couples, families and groups.
The gorgeous cottage facade and period features had been lovingly restored by the owners, with a newly renovated galley kitchen and bathroom to give it contemporary appeal. The Fox House was the perfect combination of heritage charm and modern amenities, conveniently located close to cafes, bars, restaurants and shops.
It had “winner” written all over it. Ten months later, we realised our instincts had been right. The Fox House was the #1 performing short-term rental in Kyneton.
Furnishing Fox House for the short term rental market
Our first step was to take an empty house and transform it into a comfortable and inviting space that looked great and catered to the needs of guests. Competition in the short term rental market is fierce, and successful properties need to be marketed in a way that makes them stand out from the crowd - interior styling can make or break a property.
Furnishing, styling and professional photography were key to the success of The Fox House. Sourcing from local suppliers as much as possible, we chose contemporary furnishings that combined mid-century design influences, subtle industrial accents and abstract artwork with bold lines. The neutral colour palette was transformed with pops of colour in carefully hand-picked soft furnishings, homewares and accessories.
Within a matter of weeks we were ready for listing in mid-April 2019.
Shooting to the top of Kyneton’s property rankings
It wasn’t long before the bookings started rolling in; a steady stream of guests were staying at the property and leaving fantastic reviews after they’d gone back home. To our astonishment, between April 2019 and February 2020 The Fox House had gone from being completely unlisted on the short-term rental market, to becoming the top ranking property in Kyneton, out of 73 available rentals*.
We learned so much from the whirlwind experience we had with The Fox House, and continued to apply these learnings to our subsequent properties. While there is no guaranteed formula for success in the short-term rental market, we’ve definitely learned a lot about what works and what doesn’t.
We’re always looking for the next property to transform, so please get in touch with us if you’d like to work together.
(Source: AirDNA, which uses a combination of average daily rate (ADR), reviews and total revenue earned from a property to rank properties in a particular location.)