Short-term rental service raises $6 million to expand to Brisbane

MadeComfy, a performance-based short-term rental specialist, has opened a Brisbane office.

It has appointed 13-year property veteran Melissa Baker as its new Queensland general manager.

This follows a $6 million capital raising in May following consistent 500% year-on-year growth in Sydney and Melbourne.

MadeComfy recently released a study of the Queensland short-term rental market that showed the demand for short-term rentals (STR) more than doubled over the last two years, with STR making up 11.8% of Australia’s total tourist accommodation.

The STR report showed that short-term rentals in Queensland contributed $162 million to national tourism revenue in 2016, providing over 1.2 million nights of accommodation to the almost 1.5 million international visitors Brisbane attracted.

Melissa Baker said MadeComfy’s research has shown conclusively that Australia’s demand for short-term accommodation options are only going to keep increasing.

"Compared to Sydney and Melbourne, Brisbane enjoys year-round bookings which is great for local property owners who may be considering short-term rental options such as Airbnb, Booking.com or HomeAway.”

MadeComfy claims they are delivering property owners in Sydney and Melbourne an approximately 7% to 11% rental yield return.

It was recently recognised as Sydney’s most innovative company at the 2018 NSW Business Chamber Award as well as being named as one of Westpac’s 200 Businesses of Tomorrow.

MadeComfy say they combine technology and property management services to deliver easy, transparent and profitable short-term rental experience for homeowners.