Some of the concerns with Airbnb include how it stacks up against long term rentals for the same property. With either Airbnb or long term renting, vacancy rates are always a concern, which is very expensive.
Guest quality is also a potential large expense. If a guest destroys your home you could potentially lose lots of money. Typically, if an Airbnb host needs to outsource vacation rental services such as cleaning and handyman services, this can be difficult.
Rental properties- whether Airbnb or long term rentals- can generate passive income, especially when they are systematized. Unfortunately, some of the issues with passive income for vacation rentals like Airbnb include consumables (soap, shampoo, tea, coffee, cooking oil, dishwashing liquid, laundry detergent, trashcan liners, and bags of ice). Another issue is finding reliable workers. There is a tight window between same day turn over and finding reliable cleaning services can be difficult.
Great news! First of all, using Airbnb rather than just doing long term rentals will help with some of these issues because Airbnb does all of the marketing work for you to help you keep quality guests (guest reviews) and keep your space occupied (by sharing your space on their internationally popular website).
However, if that’s not enough for you, and you are just tired of having to deal with everything related to property management, let’s talk! I can help you with my proven systems for cleaning, re-stocking, and maintenance, as well as my formulas for calculating Airbnb rental prices. Let’s both bring in some passive income as I manage your properties and offer you guaranteed rent/mortgage plus utilities every month, plus a percentage of the profits!
Learn more by signing up for an Airbnb host consultation with me! Afterwards, you will receive a free copy of my book, “Airbnb: Investor Style.”
Sign up as an Airbnb host, what are you waiting for?
Image By Mojohi10 – Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=49741665