Since checking in their first guest a year ago, Australian start-up MadeComfy has grown to host several hundred guests per month.
MadeComfy manages properties in Sydney for home owners and property investors who want to host their homes on short term accommodation booking websites such as Airbnb. These owners have subsequently achieved more than 20% higher rental income from renting with MadeComfy, as opposed to long term. Spurred by the increasing demand from travellers who want to stay in private homes during their trips, the short term rental market in Australia is now estimated to be worth $1 billion.
What is the story behind MadeComfy?
Recognising that there was a gap with no major players in the Australian market offering home owners and property investors who are time poor a hassle-free experience to host their homes, ex-corporates Quirin Schwaighofer and Sabrina Bethunin decided to found MadeComfy.
“MadeComfy fills this gap by offering an end-to-end management service of their homes, which means property owners don’t need to do a thing when they hand over their keys,” said Sabrina, who is the Managing Director at the start-up.
“We take care of everything from professional photography, listing their home on multiple booking portals, maximising rates and occupancy, managing guest communication, bookings and check-in, offering 24/7 guest support and arranging cleaning and 5-star linen. We make this process of hosting effortless.
“Some of our key differentiators are our professionalism to care for owner’s homes like it’s our own, our investment into operational and analytical systems of excellence and our value-add partnerships with other share economy start-ups like Igloohome, Chefin’ and Bespoke Concierge through to larger companies like the Commonwealth Bank.”
With significant investment into operation systems, property owners can rest assured that MadeComfy’s dynamic pricing and centralised booking platforms will provide them the highest returns and maximised booking occupancy.
How is MadeComfy doing so far?
Based in Balmain in Sydney’s Inner West, MadeComfy manages a large, growing number of homes across Sydney, from executive apartments, family homes to luxury properties. Word of mouth has spurred the majority of home owners seeking out MadeComfy’s service eager to earn a new source of income.
With the high season of summer holidays approaching, many families are now contacting MadeComfy to host out their homes enabling them to earn strong returns to pay for their own holidays or cover their mortgage payments. For many property investors on the other hand, the opportunity to achieve higher rental returns from short term letting has been the incentive.
The momentum of owners seeking out MadeComy’s service doesn’t appear to be slowing any time soon. With a current monthly booking value of over $160,000, the start-up plans to have 1,000 homes on its books by the end of December 2017 and to expand its operations to Melbourne and Brisbane.