Long term rental or short term Airbnb style?

Question

If you have experience with an Airbnb property could you tell me why you went that route over a long term rental?

Vice versa, if you went with a long-term rental over an Airbnb could you explain your reasoning?

Kamil Baldyga · Answer

I chose to do short term rentals because it increases my cashflow per property. In this market, rule of thumb is double what it can bring in as a LTR. So if a property operating as a LTR brings in $250 cashflow, it will be bringing in around $500 as a STR. I do ensure that the numbers still support the property as a LTR in case there is a change in the STR market. I also just have more fun setting up AirBnbs.

Alex Fichter · Answer

Patricia, thanks for joining the conversation!

How is managing the airbnb property yourself? The management companies seem to charge a lot for airbnb style properties, do you see this being worth it?

Patricia Taveras · Answer

@Alex Fichter

I agree with Kamil. I make better money with Airbnb. I have two long term rentals and three Airbnbs.  They are all good, but Airbnb is my favorite. It's fun. I enjoy furnishing them. Our housekeeper is constantly in the property so small issues get fixed quickly. I enjoy communicating with the guests. As a bonus my husband and I get to play on the pool tables the few times we have vacancy!

Alex Fichter · Answer

Kamil,

Thanks for the great reply!

Do you manage the STR yourself or have a company do it?

Once you have a home secured and furnished, what does the process look like to set it up on airbnb website?