How Melbourne families use Airbnb to help pay their mortgage, and why a car park could make your place hot property

An off-street carpark has made a Melbourne family’s house hot property for families and tradies working on nearby projects. Find out how they’re cashing in.

Felicia Corso has rented her St Kilda townhouse out to everyone from families to tradies. Picture: Wayne Taylor.

Tradies looking for a place where they can park their ute and tools off the street have been the surprise group making Felicia Corso’s townhouse a short-stay accommodation success, and helped contribute to paying off her mortgage.

The three-bedroom townhouse also attracts families on road trips who appreciate the car park on offer, and has been reliably filled whenever the hospitality-industry member and her family have needed it.

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Without the added income, Ms Corso said it would have been more challenging to hang onto the home over a tough series of years from the Covid-era to today.

“It has been the perfect side hustle,” she said.

Ms Corso said while St Kilda was a big drawcard for tourists there had been some surprises over who else had wanted it since she put it on Airbnb.

“It can have three or five guests, so often families with a car; but we have had tradies using it at times while working on major projects such as one building a primary school near by — and having off-street parking was very good for them,” she said.

“So the demand has been most unexpected, and we can get bookings all through the year.”

Ms Corso said anyone with a passion for hospitality and Melbourne could use Airbnb to help them stay ahead of their mortgage. Picture: Wayne Taylor.

She added that her first ever booking was for 30 days and that while people considering making a home available for short-stay rentals should be aware it can be hard work at times, it had always felt like a good opportunity to her.

“I think this is viable to help people struggling with a mortgage and I have heard so many others, from friends to colleagues, who have used it to help pay their mortgage — or even to pay for their wedding,” she said.

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“I spoke to one single dad who couldn’t afford the mortgage repayments on his home and he listed the property on Airbnb and would rent it out for certain times of the year and would move to his aunt’s home and that would supplement his income.”

The home rents anywhere from a few days to a month at a time.

For those considering doing something similar, Ms Corso said it was worthwhile if you enjoyed hospitality and meeting people, and could be done for as little as a few days a year if that was all that was needed.

“And no home is off limits, some people want high-end and others are looking for a budget option — there’s opportunity for anyone with a clean and tidy home,” Ms Corso said.

She advised indicating any local parks with playgrounds, which could catch the eye of families, while highlighting local public transport options was also wise.

Having cafes and restaurants within walking distance could also help attract people to rent the home for a short stint.

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Originally published as How Melbourne families use Airbnb to help pay their mortgage, and why a car park could make your place hot property