Any AirBnb investors?

2 Replies

I am curious to hear from anyone that has short term rentals used as an AirBnb. Have you been successful with it? We are military and are thinking about investing in one back in the city I am from to use as an AirBnb when we arent back home visiting. Any insight would be great!

@Peighton Woodard

Of course some people are successful with it and some aren't. The success of others will in no way impact your own success. It depends on your location, size of property, purchase price, nightly rate you can get, your upkeep of the property, and many other factors.

If your unit shows well in photos and if you build up some good reviews in the first months, and your pricing is reasonable, it will be consistently rented.

We have 3 of them, and all less than 1 year so the jury is still out, but in our experience so far, the startup and ongoing costs have been higher than expected, but all are getting good reviews, so in year 2 (now that they are stable) we expect to do pretty well.

You have to make sure your town allows it, and you have to decide if you will manage it yourself and take on that extra work (communicating with the guests and people who will clean/make repairs) or if you will hire a property manager, which can be expensive, upwards of 25%.