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Updated over 6 years ago on . Most recent reply

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161
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104
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Bryan Clement
  • Rental Property Investor
  • Union, ME
104
Votes |
161
Posts

Leasing a Property or Apartment for AirBnB

Bryan Clement
  • Rental Property Investor
  • Union, ME
Posted

Hello BP,

I read someone's investing strategy on a blog post recently, and I found it quite interesting. They rent out apartments, houses and condos, and turn them into AirBnB's. They make a profit off of the rental income, pay the landlord, and keep the profit. I've been thinking about doing this as property prices are so high right now and we seem like we might go over the financial cliff any time now. Does anyone else do this or have tried this in the past? What is/was your experience and would you recommend it for a new investor? Thanks! 

Most Popular Reply

User Stats

110
Posts
107
Votes
Greg Junge
  • Realtor
  • Phoenix, AZ
107
Votes |
110
Posts
Greg Junge
  • Realtor
  • Phoenix, AZ
Replied
I'm actually doing this right now except I'm the owner of the house, and leasing it to a long term tenant who is then airbnb'ing the property. My tenant has been doing Airbnb since it started, agreed to a 10 year lease, with 2% escalation clause, meaning the rent raises 2% every year. And it's triple net, meaning he's responsible for all repairs, maintenance, pays my property taxes and home owners insurance. I'd only be responsible for full roof replacement and ac replacement if needed. I'm making about 1k a month off this deal so I am happy and he's happy because he has an awesome house to make money with using Airbnb. I'm in the process of buying another house with this same model in mind. For me, it's awesome cash flow, passive, no need for a property manager, and I'm banking on both cash flow and long term appreciation, since these houses are in a nice part of town. Just wanted to share that to this post. And everything is clearly spelled out in the lease, so there are no surprises about what he is doing.

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