Looking for some advice on AirBnB. I am sure this has already been asked on here but I could not find the answer when I searched. Basically how can I tell if my home will rent out? I have a newer 4/3 home in Hollister CA and we are thinking about moving out of it and using AirBnB in hopes to cover our mortgage. I don't see Hollister as a huge tourist destination but I have seen a couple people in the area listing just a single room for 65.00 a night. I plan on reaching out to those same people and ask how successful they have been but I also wanted to ask on BP to see if anyone had some advice.
Hi @Vincent Ballew ! I've been through Hollister and while it's a perfectly nice area, it's usually a place I drive through getting to another vacation destination. I do know of a lot of people that travel there for dirt bike riding so if you are close enough to those areas you might be able to leverage that.
All that being said, I'm not sure why you would want to deal with the effort involved for an AirBNB versus just making it a regular rental. You are going to have 1/2 of the operating costs and a much more consistent and predicable NOI going with a standard rental. Remember, with an STR you are going to be the one paying for cable, gas, electricity, maintenance, county permits, etc. etc.
Just my quick 2 cents without knowing much more than what you have shared, either way, I wish you the best of luck on whatever you choose!
Check your location on vrbo and airbnb. If you have at least 5 homes with over 20 reviews on each platform then there could be a 6th home in there.
This little exercise will also give you your market nightly price.