Anybody renting a house using AirBnb?

Question

I'm curious about trying this with one of my houses (even thinking of renting a room in my own place), just curious if my market (Oak Park/Berkley suburbs north of detroit) would be a good market to do this. I would be curious to see how different people are doing in different markets but especially my market, worried that vacancy could be an issue during the winter months.

Thanks!

Micki M. · Answer

@Roy Gutierrez Airbnb has local groups you can join, you might be able to connect with other people in your area and discuss vacancy rates etc. Simply searching for availability in your area will give you an idea of how much competition there is, or how viable it looks.

Al Williamson · Answer

Yes, Micki M. says. His software makes him the smartest guy in the room.

Tara Hall · Answer

@Roy Gutierrez I currently rent out my guest room here in Denver and typically make more than what I could charge a roommate, and the room is usually only booked half the time. With that said, it has slowed down the past month or so (probably due to the changing seasons). I'm expecting bookings to increase once the new year starts.

Evan R. · Answer

Hey @Roy Gutierrez

I'm not too sure how well airbnb would work in your neck of the woods.

The average vacancy rate is 66%, which isn't too bad, and the average price per night is $89.05.

Elizabeth Colegrove · Answer

I am hoping to do this at our next duty station if the location is conducive. The key is to evaluate the market and what the rentable times of years. For us the area we are looking at renting would be able to rent them all year round to two different types of market.