The Kuala Lumpur Airbnb version of Monopoly board includes an overview of some of the city’s top condominiums and how much landlords can earn by listing a 3-bedroom condo on short-term rental platforms such as Airbnb, HomeAway and Booking.com.
Although Airbnb is legal in Malaysia, it can be tricky for property investors to understand which condominiums have a commercial use classification needed to place their units on short-term rental platforms.
Apartment and condominium owners may only rent out their properties if the bylaws of the building permit it; otherwise, they risk a penalty or have access to the building being denied to their guests by building security.
Homeowners and investors should take note that the rules and regulations for homestays in Malaysia are constantly being updated; impacting condominiums directly on whether or not the vacation rental businesses can continue operations in certain buildings.
Kevin Tan, Kuala Lumpur City Manager at GuestReady, said that Monopoly is such a landmark in the property industry that they thought to have a bit of fun by re-adapting the board to their field and showcasing the city’s top tier developments with the daily earning potential on short-term rental platforms.
The board reveals the condominiums that achieve the highest daily rate on Airbnb. Condominiums on Jalan Tun Perak can earn up to RM436 per day for a 3-bedroom condo and, a similar unit on Jalan Sultan Ismail can earn up to RM405 per day.
Property investors can calculate the short-term rental values of a condominium by using the property price calculator on the GuestReady website. The calculator uses a dynamic pricing algorithm that has helped it manage rental yields for over 20,000 stays around the world in the last three years.
Due to rising guest expectations, Airbnb hosts increasingly engage short-term rental management companies such as GuestReady to take care of their properties as they enjoy 24/7 support on guest communication, personalised welcomes, concierge services and hotel quality linen and towels among other amenities. This high-level of service increases the chance for positive reviews and secures the long-term success of properties. The same service is offered for properties listed through Booking.com and HomeAway.
Headquartered in London, GuestReady is present in six countries across Asia, the Middle East and Europe: it provides Airbnb-management services to rental hosts in Kuala Lumpur, Hong Kong, Dubai, London, Manchester, Edinburgh, Paris, Cannes, Porto, and Lisbon.
It uses the latest technology to enable its personalised style of property management. The company recently acquired BnbLord becoming the leading provider in Europe managing more than 2,000 properties.
GuestReady won the 2018 Serviced Apartment Award as the Best Service Provider; is named one of the Hot 25 Startups for 2019 by Phocuswire and Voyager HQ; and is ranked number 13 in the Startups 100. GuestReady enjoys a TrustPilot score of 9.1 out of 10.