Anyone here have experience with full time airbnb rentals?

An uncle manages a 1 BR in mid city and made a significant amount on airbnb vs renting.

My father was tellin me of a guy he had drinks with that does airbnb with penthouse apartments in the quarter/warehouse district as well. The guy was saying a single weekend pays all his expenses, and he was charging so much he was regularly moving out of his personal condo to rent it out on weekends. He stayed at a hotel and still made $.

Yes I think you should look into it. Maybe try renting furniture first?

Insurance will be higher.

I have heard it is essentially a shadow hotel industry in NOLA that undercuts the hotel/motel taxes the City funds a lot of their shite on. It's become quite a cottage industry.

NY, LA, & NOLA are facing big issues with this and a lot of neighbors are PO'd that they have neighboring homes or condos/apartments that have a never ending cycle of tenants through them that are essentially hotel guests.

Lots of people using tax credits and Air BnB to get rich in NOLA the past few years.

The short term rental climate in New Orleans is kind of strange right now. It's up in the air who can and cannot rent out. They had some crazy ideas about letting a certain percent, or area rent and others on the same block not. So you better check and see what the deal is, and if they might change in the near future.

That profit sounds great! you will most likely be sending and receiving multiple text each day. I think the sweet spot in rentals is going to be around $ 225 per night. I don't think these units for $500 a night are booking as often.

Whatever you do, keep us updated.

I've been trying to get the wife on board in renting out rooms in our new house. Thing is family ready but its just us and two dogs. I wouldn't mind securing the master suite and renting out the rest to offset costs of taking vacation and kenneling the dogs.

Most leases don't allow sub leasing, I certainly wouldn't on a property I owned. So be mindful of that and frankly I'd pay a lawyer to look over your lease.

I've never rented furniture but it's probably going to get wrecked, so you'll probably be better off buying some used or cheap stuff.

Honestly, I'd get a place and put one king bed and a ton of single beds. For a bunch of people. Throw a couch/ living room set up, a flat screen, and a small table and that's all you need.

As said, definitely be mindful of the short term rental rules. A lot of cities are cutting down on it. The benefit of the short term market though is they should drive the property values up if they are renting like crazy, so governments are becoming mindful of that as its more tax money and sometimes a ton more.

I've looked into all the pitfalls I can think of. Owner is ok with me subleasing it and New Orleans has legalized it in commercial areas.

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I have never had any furniture damaged at all.

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Come on, is that honestly advice you can give? Don't worry about furniture for a NOLA rental getting abused? You have been very very lucky if that is the truth.

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My biggest issue/complaint is the baby boomers are jumping in the game as renters.....and they are a huge pain in the arse in general. Sky high expectations, little to no gratitude. They have to be coddled like you wouldn't believe. They confuse Airbnb with hotels and expect you to be their personal attendant....

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I would definitely agree with this. I had 4 older ladies call me last Sunday night around 7:30 because they clogged a toilet. I told them I was out of town and my maintenance guy wasn't available until the morning. They kept calling me back, finally had someone take care of it. Said it took two easy plunges and there was a plunger next to the toilet. Boomer women are terrible guests, they don't understand you are saving money by paying for fewer amenities that hotels supply such as no on site staff.

If you don't want to deal with stuff like that and the return is that good, you may want to look hard into a management company. Then you can focus your time on treating it only as an investment and not a job, but more importantly finding another to do the same with.

Lol... The "groups" of older women are the worst.... They take all your time and energy then give a mediocre review. Out of my hundreds of guests over the last few years I have found millennials to be by far my easiest, most conscientious guests. And usually leave 5 star reviews.

42k! I guess if you do 300 nights at $225=67k-20k for rent and 5k for taxes and insurance, you would be there. Crazy

I hear management for vacation rentals are 35% compared to10% for long-term rentals