Should I rent or Airbnb my 3br 2ba townhouse?
Hello,
I'm a current working professional who lives in a 3br 2ba in mesa az. My mortgage is $2000 and hoa $200. I'm thinking about renting my townhouse for around $2400/month or $2200. I would technically be taking a loss every month, but it would be a few hundred dollars (I think 200-500) but I would move out of here and into a cheaper apartment around $1200/month. My question is should I try to rent this townhouse out for $2200 or AirBnb the entire place? I'm 10 mins from ASU so it might get traffic. My thought process is instead of me paying $2200/month to live there, I can pay only $300/month after the renter income and then $1200/month in an apartment. This is a save and someone else will be paying down my mortgage. So its technically reducing my costs if it all works out. I got the home a year ago so theres no chance of refinancing lower as interest rates have skyrocketed.
I'm leaning towards renting because I'm afraid my house would get destroyed by doing AirBnb and the renters would take care of my home better. Any thoughts? I just wanted to see if any of you had any ideas or if I'm missing something.