People who rent out property on sites such as airbnb make more money than traditional landlords whose tenants stay much longer. One San Fransisco resident claims he makes $500,000 each year from 14 homes he leases out by night. Those who rent out their homes for a night price lure in tenants by offering better deals than what hotels can afford to offer. If a hotel charges $250 a night, they'll ask for $150 or less. Sounds like a good way to make money if you live in a place where hotels are very expensive.
I just read an article in the newspaper that the Airbnb is displacing the apartelles and small hotels including motels. But the problem with that kind of rental is the consistency. Supposing that a tourist liked the place and when he comes back the place is not available, what then? Here, it is called homestay where a house is offered but the owner remains staying there and would treat the tenant as a house guest. Most homestays include meals so the guests would feel more comfortable.
That's the thing, airbnb works well in places where the hotels are expensive and there are a lot of tourists... all year round. Also keep in mind that if you are renting out even a couple of houses through airbnb you are more like a full time landlord. You need to be there to welcome your guests and often also meet them when they check out. Then clean the place before the next one arrives etc. And of course you are the landlord, you need to be available 24/7 by telephone. It's riskier (higher chance of vacancy) and takes more work, so obviously the price you get per day is also higher. If it's worth it... that's up to your own needs. I have considered using airbnb to rent out my place while I'm traveling, that's it. If I would have a long term rental property it would be rented out in the traditional way. (though airbnb could be a nice supplement in between tenants etc)
You may make a lot more money but it is also a lot more work. You are constantly having people coming and going so you have to clean this apartments every time somebody stays the night. If there is damage you have to repair it. You have to worry about renting them out on a daily basis. I guess it all depends whether you think it is worth all the hassle. I would prefer to do things the traditional way.
true, except for the repair stuff. AirBNB has your apartment insured, so you can just hire people to fix it and it's all good. Though yeah you will have to make a couple of phone calls.
This surprises me, I would have though that the charge on these sites is less. No facilities, less security, generally lower quality. I suppose though if the 'tenants' are willing to pay that price, good for the landlords. Is this the Uber of Hotels?
It is kinda the uber of hotels. Except that here you get a limousine for the price of a toyota yaris. AirBNB has different options but I've always gone with the "whole apartment" one since I do like my privacy. An apartment usually goes for about the same price/night as a decent hotel room. So much more space, your own kitchen etc. One apartment that I rented even came with 2 lovely cats
I have considered renting a room through Airnb. I haven't thus far been able to get it rent ready though. I rented one of my rooms, and moved the stuff I had in that room to the other room, so that leaves me with a lot more stuff to find a place for. Where I live is pretty much of a summer time early fall place. This would probably be the wrong time of the year to do it... Anyway...it's an idea...Although I do hope to sell the whole house in the Spring, I hope it will work out.
That's given me plenty of food for thought. I hadn't really considered Airbnb as such a massive industry disrupter! As a landlord myself it's certainly an avenue that I need to think about at some point. The thing for me, though, is that I like consistency of income and to be able to be very hands off. Airbnb sounds like a lot more effort. Yes, you get compensated for it but you have to be willing to take the bumps and bruises with it. I'm not entirely sure whether that's me at the moment.
