Residential Property, Hout Bay, Cape Town for sale

Key features

Hout Bay, Western Cape, South Africa

AirBnB Overview

• Months of Operation - Cottage: 2016 - 202 days booked, 62% occupancy rate. 2017 - 63 days booked, 90% occupancy rate.

• The Cottage was first listed in February, 2016. In 2016 the cottage enjoyed consistent bookings, including the winter months totalling 182 days booked on AirBnB and approximately 20 days booked off AirBnB (extensions and revisits), representing a 62% occupancy rate.

• In 2017 the cottage was blocked in March as we had returned to SA and began to move into the cottage and rent the house, which generated substantially higher revenue. From Jan to early March the cottage was booked 63 days, about a 90% occupancy rate.

• The cottage has been blocked for bookings since March as we move between the cottage and house when the main house is rented.
• Months of Operation - Main House: 2016 (Nov/Dec only) - 43 days booked, 78% occupancy rate. 2017 (limited dates available) - 34 days booked.

• The House was first listed in Nov 6, 2016. In 2016 the House enjoyed consistent bookings, totalling 43 days of the 56 days available, representing a 78% occupancy rate.

• In 2017 the House was blocked for dates not already booked in advance. We had to return to SA for medical reasons. During this time we moved between the house and cottage, only opening available dates sporadically.

• Because the house is for sale we have blocked dates of 30 days or longer. Historically we have found that the house is booked 2 or more months in advance as these cater to larger family groups planning holidays well in advance. The drop off currently in 2018 is due to the house dates not being available beyond 30 days. However, as seen in the reports there are still bookings. In 2017 there have been 34 days booked.

• Revenue - Cottage and Main House: 2016 - $18,868 (including 20 days not booked through AirBnB). 2017 - $10,254 (with limited available dates due to owner blocking). $29,122 (approximately R400,000).

• Projected Annual Revenue: R800,000 - Projected Annual Revenue (excluding expenses). 
• NOTE: Above figures are for limited availability of the house in 2016 and limited availability on both the house and cottage in 2017 as explained above.

• Based on historical bookings activity, with full availability the above is an estimate of projected revenue annually, and this may be a conservative figure.

• Expenses - Cottage and Main House: ehile we are away we incur an expense for housekeeping and a property manager. The housekeeper generally comes twice a week. Depending on check ins/outs, this could reach three times per week. The rate for the housekeeper is R300 per day.

• Also while we are away, the property manager charges R200 per visit to check in/out guests. This averages from two to four visits per week, sometimes less, sometime more depending on the duration of stays. We employ a gardener/poolman who comes twice a week at a rate of R300 per day.

• Taxes, utilities, and normal house maintenance are also incurred whether or not the house is used as a AirBnB.

• AirBnB Stats: 5 Star Rating. The house and cottage both have a AirBnB 5 star rating. This is based on visitor feedback and how the property is managed. Because of our 5 star rating the property shows up at the top of AirBnB searches in our area.

• Reviews: there are currently 37 reviews for both the cottage and house on AirBnB. All reviews are excellent and all recommend the house. Reviews are key to maintaining bookings. 

• Property Management & Maintenance:Property Manager: the property manager owns the Marvellous Maids franchise in Hout Bay. He manages the property while we are away, including scheduling and delivering housekeeping when required.

• Queries & bookings: while we are away, we handle the initial queries and bookings through the AirBnB site. When a booking comes in we are notified via email and text message on our mobile. We accept or reject the booking, and once accepted the booking is then taken over by the manager to coordinate arrivals and departures.

• The property manager also manages any requests of the guest, and also addresses any maintenance requirements. We have accounts set up with local plumber, electricians and handymen.

• Housekeeping: as mentioned above, the property manager owns the Hout Bay franchise of Marvellous Maids. There are two housekeepers that know the house and cottage and what is required. There is a storeroom in the back of the cottage where all linens, teas, coffees, cleaning fluids, pool supplies, etc. are stored.

• Garden and Pool: a gardener/poolman visits the house twice a week (full day), and maintains the garden and pool. He has been with us for five years and knows the property well. He has a key to the garage and accesses this without disturbing guests. Guests are made aware of his days in advance.