In response to my listing on Craigslist, I got the following email. It sounds like an interesting concept. Has anyone else had experience with this?
Noticed your rental and it looks great. My company currently manages over 30 Airbnb listings in town and we have amassed over 1100 5-star reviews achieving Superhost status on the platform. We were actually just featured by the Charlotte Agenda in an article and on StartCharlotte.
Reaching out to you to see if you would be interested in renting your space out to us and allowing us to in return list the property on Airbnb & other short-term rental sites. I understand that this is somewhat different than the traditional setup you are looking for but we are willing to pay a premium (additional 10%) on the monthly rent.
This is relatively low risk for you, our company would handle everything and would insure the property for damage and you would simply be responsible for the typical landlord obligations as you would with a normal long-term renter.
Alternatively, we have another model where you could participate in the upside if you are interested.
Happy to discuss this in more detail if it is appealing to you.
I have recently gotten into the Airbnb game and have found it to be extremely lucrative. In my opinion, you can earn more $$ renting you home on Airbnb than you can with a monthly rental if you are close to a big city. I have not specifically heard of the company, Rabbu but there are more and more Airbnb focused rental companies popping up everywhere. To me that says they are trying to capitalize on a growing market. What do the numbers look like for you having just a long term renter in your property? If the cash flow isn't great, this could be a nice way to make this rental property work harder for you.
I recently received a similar email for a rental I have here in Charlotte as well. I will have to go back to see if it is from the same operator as the terms were slightly different.
That particular tenant intends to resign their lease so I am not in the market for a new renter, but I am curious to hear if you go down this path any further.
There is plenty of $ in AirBNB rentals - but beware - a local RE attorney I use has many - and the horror stories continue to mount up! Renters holding 40 person parties (HOA not pleased), renters who call about a light bulb out and demand someone fix it now or face a bad review, renters screwing up the TV connections - even a couple renting a home for a teenage party that resulted in a bloody bedroom. The management required can be very significant. You should also request that the manager be a licensed real estate firm in North Carolina to protect yourself. Vacation rentals are required to be managed by a licensed real estate brokerage firm.
Curtis Waters, Real Estate Agent in SC (#96431) and NC (#285129)
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