How does it work?
Short Term Rental Management
In recent years, short-term rental properties have significantly impacted the way people travel, with guests and tourists alike having access to a vast range of reasonably priced accommodation options. It has given property owners new ways to earn extra revenue from their principal residence.
If you own a single rental property you may not necessarily need to start a company to collect extra income. It’s only once the portfolio starts to grow that turning the practice of renting into a business becomes more important. Ready Set Apartments, the property management company, initially started with getting properties as long term leases and renting them out as short-term rentals through websites such as Airbnb and Booking.com, using its own unique algorithms to maximise profits. It has been successfully managing over 70 properties in Melbourne CBD and the surrounding suburbs, establishing a reputation of a trustful and reliable partner.
Ready Set Short Term Rental Fund
The systems were put in place to keep the short-term rental properties in good shape and the cash flowing in, and the company was getting returns in excess of the industry standards. The success in property management has led Ready Set to consider investing in residential real estate and it was decided to expand the business in this direction. Soon Ready Set Short Term Rental Fund was created, obtaining all the necessary approvals for operation.
The fund is pioneering in the financial and investment industry, as to our best knowledge, it is the first fund in the world, where purchased properties are managed as short-term rentals in the same group of companies. It allows many investors in Australia who can’t yet afford to buy a whole property to buy a fraction of a property portfolio. Investors in the fund buy units (like shares) in a trust that holds property on behalf of all investors. The properties in the fund are managed by our professional rental managers, and investors receive income from rentals quarterly.
There’s no rule that says investors need to live in the markets they invest in, but it certainly feels more comfortable to see where your money is. Every time an investor, their family or friends stay at a fund property when they are on holiday, they both enjoy a discount and contribute to improving the fund’s return.
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