Real Estate Investor Magazine South Africa Real Estate Investor Magazine - May 2017 | Page 62

MY STORY
Riding the Airbnb Wave
A Property Entrepreneur’s Success Story
BY JEAN BROWN
I
s it possible to take a small, part time, Airbnb gig
and build it into a full-time hospitality business?
Laurene Van Coller is an example of a property
entrepreneur who has done just that. She currently
lets out nine luxury cottages on the Fijndraai Wine
Estate, located on Annandale Road just outside of
Stellenbosch. Her upmarket, one- and two-bedroom,
self-catering units now serve as a popular retreat
destination for overseas tourists looking to explore
the beauty of the Cape Winelands and its surrounds.
How it all began
Laurene was first introduced to the Airbnb concept
during her four-month visit to Europe four years ago.
On her return to South Africa, she decided to relocate
from Johannesburg to Cape Town, and with her law
and accountancy background, took up a position as an
analyst for a property equity fund.
“I needed a temporary space to store my furniture,
so I asked my dad if I could rent one of the unoccupied
Fijndraai cottages from him. I then decided to list the
fully-furnished cottage on Airbnb to help cover the
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rent and generate additional income,” she explained.
“I caught the beginning of the Airbnb boom in Cape
Town ‒ just as it was taking off ‒ and was one of the
first properties listed on Airbnb in the region.”
Laurene initially ran the entire business from
her cell phone in Cape Town, using app-based
technologies like Expedia and Airbnb. She furnished
the other available cottages with recycled furniture
and bought just a few other items, so her overheads
weren’t high. “I then hired someone to help clean the
cottages and receive guests. I drove through a few
times a week to interact with the guests,” she said.
An Airbnb success story
The business has now expanded to the point where
Laurene have five full-time staff members working
for her: “The business has grown far beyond anyone’s
expectations and I have managed to double my revenue
over the past three years, year on year,” said Laurene.
She now also manages four other short-term rental
properties outside of her Fijndraai accommodation
portfolio.
www.reimag.co.za