According to data released by AirDNA, the world’s third most prolific Airbnb owner is from Cape Town with 114 properties.
A Cape Town Airbnb landlord is reportedly listed as the third wealthiest earner, with a staggering amount of 114 properties.
The landlord is reported to have earned R109 million from October 2016 to September 2017.
The data comes after AirDNA, a data and analytics firm in the U.S, released the latest figures amid reports that a large number of local Airbnb properties are illegal.
Airbnb, an online marketplace and hospitality service, enabling people to lease or rent short-term lodgings, is currently running 13 998 active rentals in Cape Town, with an average daily rate of R1 221.
Now, South African management companies representing Airbnb said it is unlikely that an individual is earning this figure from bookings, as reported by Times Live.
Managing director of Airbnb management company Superhost South Africa, Greg Schneider said it would be very hard to hit those numbers as a management company.
“To make R109 million annually from 114 properties, landlords have to earn R956 140 a property or R2 619 a day, with the property booked out every day during the year. Airbnb management companies take between 15% and 20% of booking fees.”
Schneider also said such a turnover meant the places would have to be in prime locations that were popular all year round – such as in Cape Town’s city center for example.
Chregan O’Flynn, director and co-founder of South African Airbnb management company airManaged (which boosts 207 properties in Cape Town CBD), said he cannot believe this to be true.
“If you are telling me someone has 114 of those properties, earning at that level, I can’t see that being true. We don’t make anything close to that.”
He also said that properties were often not available all the time because owners might live in the property for some time or close it down for renovations.
The Cape Town landlord is behind a Bali property owner, who earned R223 million with his 504 properties. The top owner is a London landlord, who is reported to have clocked in R224 million last year from 881 properties.