Accommodation can be split into 2 categories, furnished and unfurnished.
Unfurnished is the traditional house or apartment which you lease for a longer period and you supply everything. Furnished accommodation is some of the items are supplied such as the white goods, a couch and bed etc which is part furnished whilst fully furnished is everything thing is included just like a hotel so all you need is your clothes and food.
Much of the domestic tourism market in Australia relies on fully furnished accommodation when travelling, be it a hotel or a private rental. Private rentals were widely used in Europe with people letting out their homes over the peak seasons, and then it moved to the cities and it quickly became a hot investment opportunity.
In Sydney fully furnished rentals were predominantly booked by corporates and business travellers looking for an alternative to hotels due tho their increase in space (The average hotel room is only 33 square metres whilst the average fully furnished rental is about 50 square meters) and their added privacy as there is no maid service every day.
The 2000 Sydney Olympics saw the fully furnished accommodation industry in Australia soar to new heights with both the corporate sector and the tourist industry. more and more people became aware of the advantages of not only staying in fully furnished accommodation as opposed to the traditional hotel stay, but also investors saw the benefits of the offering fully furnished accommodation. This became the new way to travel to a city and was the forerunner for the share revolution and sites like AIRBNB was born.
Most Savvy investors realised the potential in fully furnished accommodation, not only due to the higher rental returns, but also due to the flexibility of the process as the owners of the property are able to use the property in between bookings, thus making it a smart choice for the investor who lives either overseas, in the country or even in another state.