The advantages and disadvantages of hosting Airbnb rentals.
Today I wanted to talk a bit about Airbnb investing. I’ve had the opportunity to help many investors utilize this short-term rental strategy for their properties. While this method might not be for everybody, I wanted to quickly go over some of the pros and cons of this approach.
Some advantages of renting on Airbnb are that you don’t need a separate property. For many, it makes sense to purchase and list a property exclusively as a home share, but you can also make money on your existing property. Many Airbnb hosts I’ve worked with choose to rent out guest rooms or houses in their primary residences to make some extra cash.
You are also protected from damages up to $1 million by Airbnb. You do need to provide pictures or proof of damage, but the protection is automatically there. It’s also easier to find a guest for a few days than a tenant for a few years. Plus, Airbnb makes it easy to get visibility for your property. You can also make guests responsible for cleaning fees, and they’re an expected part of the experience.
“Many Airbnb hosts I’ve worked with choose to rent out guest rooms or houses. ”
Finally, you can also rent to multiple guests at the same time to maximize your profits. One of the buyers I worked with divided his first and second floors to create two separate rentals. You can also rent the main and guest homes separately.
On the other hand, Airbnb isn’t a passive investment. With the high turnover of guests, you’ll need to facilitate their arrivals and departures regularly. You’ll also have to maintain a top-notch experience and deal with any issues. In addition, Saint Augustine has certain regulations regarding Airbnb rentals, so make sure you consult an agent and check local laws.
If you have any questions about this, we would love to talk with you more. Just call or email us. We’d be happy to help.
