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Updated over 4 years ago on . Most recent reply

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Brad Jacobson
  • Realtor
  • Ogden, UT
415
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Mother-in-Law: Rent Out or AirBnB?

Brad Jacobson
  • Realtor
  • Ogden, UT
Posted

Hey BP Nation,

My wife and I are set on the idea of making our current residence a rental and purchasing a long term home for ourselves with a mother-in-law that would help cover the mortgage.

I'm curious what everyone's opinions are regarding the pros and cons of making the mother-in-law a typical basement rental vs trying to Airbnb the space.

Currently basement rents in our area for 1-2 bedrooms range from $600-800/month or so. Vacancy shouldn't be an issue for the standard basement rental in our current market.

What are your thoughts? Airbnb or rent?

Would Airbnb provide considerably higher returns?

Is Airbnb worth the extra work? We're planning on managing/cleaning it ourself.

Thanks in advance!

Most Popular Reply

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Michael Baum
#2 Short-Term & Vacation Rental Discussions Contributor
  • Olympia, WA
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Michael Baum
#2 Short-Term & Vacation Rental Discussions Contributor
  • Olympia, WA
Replied

Hi @Brad Jacobson, you really need to give us a bit more info. Where is the home located especially. If you have a house out in the middle of Iowa 60 miles from any town in a corn field, I am guessing that AirBNB might not be the best option.

If the house you are buying is waterfront in Tahoe, well, then doing an AirBNB rental could generate enough to pay the mortgage in total.

Location is everything.

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