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Started By
Message
Do any of y’all operate Air B&B?
Posted on 3/31/22 at 5:50 am
Posted on 3/31/22 at 5:50 am
So hubby and I are thinking about buying in to a place we can use as a vacation rental and Air B&B.
Anyone do this? What are some positives and negatives?
Anyone do this? What are some positives and negatives?
Posted on 3/31/22 at 6:05 am to dyslexiateechur
I wouldn’t buy anything in the current bubble, especially in vacation areas that seem ultra inflated
Posted on 3/31/22 at 6:06 am to dyslexiateechur
I won’t ever have one.
I know folks who do, you’d better have the appropriate temperament to put up with the general public’s expectations in using your place for a lodging.
Obviously, if the property appreciates, you’ll benefit from that but it being used by strangers will put some wear & tear on it that your personal use might not have exacted.
You have to be reasonably always available while you have folks in your property, or hire a property manager to handle that role and lose some profit in the deal.
Good luck.
I know folks who do, you’d better have the appropriate temperament to put up with the general public’s expectations in using your place for a lodging.
Obviously, if the property appreciates, you’ll benefit from that but it being used by strangers will put some wear & tear on it that your personal use might not have exacted.
You have to be reasonably always available while you have folks in your property, or hire a property manager to handle that role and lose some profit in the deal.
Good luck.
Posted on 3/31/22 at 6:19 am to dyslexiateechur
We did for a while. Bought the two family home next door to us. One unit was vacant so we did air b&b and VRBO with it.
It was seasonal so memorial day to labor day, maybe a little after labor day.
Worked out great the first years as we had a winter tenant so the money generated for the year was fantastic.
The place was small, one bedroom so we didn't get families, or long stays, but we were always booked.
We did our own cleaning which sounds like you won't have to worry about.
The town started cracking down on short term rentals when it want your primary residence so we went to full time tenants, which is much less of a headache.
If you have a management company they can deal with all the issues that come up.
A friend and his wife bought a place last year year on the gulf coast and they seem to be doing great with it.
It was seasonal so memorial day to labor day, maybe a little after labor day.
Worked out great the first years as we had a winter tenant so the money generated for the year was fantastic.
The place was small, one bedroom so we didn't get families, or long stays, but we were always booked.
We did our own cleaning which sounds like you won't have to worry about.
The town started cracking down on short term rentals when it want your primary residence so we went to full time tenants, which is much less of a headache.
If you have a management company they can deal with all the issues that come up.
A friend and his wife bought a place last year year on the gulf coast and they seem to be doing great with it.
Posted on 3/31/22 at 6:24 am to dyslexiateechur
It's "Airbnb", Boomer
Posted on 3/31/22 at 6:59 am to dyslexiateechur
I had a boss that had one. She'd leave work to take care of preparing home for renters and would be gone for hours. She still has a job there. I think she stopped doing Airbnb. For all I know, it could have been a lie to leave the office. She seemed to be booked every day.
Posted on 3/31/22 at 6:59 am to dyslexiateechur
Sounds like you’re buying into a time share.
Posted on 3/31/22 at 7:20 am to dyslexiateechur
Do your research. Airdna.com is great market research. Are you investing into amenities or need to? Are you prepared to deal with tenants and cleaning?
Posted on 3/31/22 at 7:23 am to yellowfin
quote:
wouldn’t buy anything in the current bubble, especially in vacation areas that seem ultra inflated
quote:
yellowfin
I'm happy someone out there agrees with me that this is indeed a bubble
If you talk to certain types they'll swear up and down house prices are only gonna go up from now and until forever
Posted on 3/31/22 at 7:25 am to dyslexiateechur
My ex sister in law made it a practice if staying in air Bnb’s so that she could bully the owners because she knew that they were generally pushovers because they feared bad reviews.
There are many many like her out there too.
I vowed to never get into that business
There are many many like her out there too.
I vowed to never get into that business
Posted on 3/31/22 at 7:26 am to dyslexiateechur
quote:
hubby and I
Need pics to give proper advice.
Posted on 3/31/22 at 7:29 am to dyslexiateechur
6 of the doors I own are currently airbnb/vrbo.
They're a lot of work. And this market is not good for buying in. Very profitable if you find the right ones for a good price
They're a lot of work. And this market is not good for buying in. Very profitable if you find the right ones for a good price
Posted on 3/31/22 at 7:52 am to dyslexiateechur
Did it with the family home after the divorce while trying to sell it. Worked out pretty well financially, mostly good renters, my ex and I paid ourselves to clean it. The end of the road came when Big Baby and his entourage rented it for the weekend (through his agent, so we didn’t know until he checked in) and had a big throw down, cops got called, and got a cease and desist letter from the HOA the following week.
Posted on 3/31/22 at 7:59 am to dyslexiateechur
Join a few airbnb owner groups on Facebook if you want to hear the stories.
Posted on 3/31/22 at 8:04 am to dyslexiateechur
My brother and SIL have one on beach in Destin. It was his townhome before they moved. They’ve been through several cleaning companies because they rush through so fast. A lot of things get broken or stolen. Constant maintenance can be an issue. They do get a lot of income during busy season…so there is that. Block off for family every now and then as well.
Posted on 3/31/22 at 8:06 am to GeauxDouble
More than a few of us have had beach condos here. Cleaning crews are shite
Posted on 3/31/22 at 8:08 am to dyslexiateechur
My brother has a studio apartment behind his house in Downtown Lafayette that he puts on AirBNB and he does well. Makes enough to pay his house note and utilities on his house he lives in.
Posted on 3/31/22 at 8:10 am to dyslexiateechur
I run one for my Mom at the beach. Its really simple and you'll make good money doing it. You can literally copy/paste check-in info/check-out info, etc. I did 3 day minimum stay length this year but I'm going to change it to 4 days next year. Its too much turnover and constantly being on the phone.
I have only had like 2 guests that were bad and left the house in rough shape. (not like destroyed stuff) But treated it like a rental.
Bookings are nuts this summer though. I don't have a day open until the middle of August.
I thought about buying a house for myself, but house prices are absolutely bonkers down there right now, plus mortgage rates are steady increasing.
I have only had like 2 guests that were bad and left the house in rough shape. (not like destroyed stuff) But treated it like a rental.
Bookings are nuts this summer though. I don't have a day open until the middle of August.
I thought about buying a house for myself, but house prices are absolutely bonkers down there right now, plus mortgage rates are steady increasing.
Posted on 3/31/22 at 8:19 am to dyslexiateechur
quote:
So hubby and I are thinking about buying in to a place we can use as a vacation rental and Air B&B.
Anyone do this? What are some positives and negatives?
Yes I am actually a superhost ambassador.
Positives:
-2-3x more revenue than long term rentals
-House stays in for sale condition
-More engaging and fun
Negatives:
-More management required(unless you hire a property manager obviously). Must have a cleaner, handyman, and/or yourself on standby.
-People can be very unfair and unreasonable. I probably have one of one of the top Airbnbs i. the southeast in terms of renenue/value of property. Its immaculately clean every time and much better service than hotels...still I get unfair reviews sometimes.
-You do have occasional guests who leave the house very unclean and/or damage things. This is not nearly as common as people would think though
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