Starting out Airbnb

[Brynna Linker]

Hello! My boyfriend and I are trying to start an Airbnb business and would like to get advice and some tips anyone could have for us going into this. 

[Mohammed Rahman]

A few things I’d really pay attention to early on:

First, make sure you understand the local Airbnb rules before buying anything. Regulations can change pretty fast depending on the city, and that can completely change whether a deal makes sense or not.

Second, try not to base your numbers on the “perfect scenario.” A lot of people getting into Airbnb underestimate things like slower seasons, vacancies, furnishing costs, cleanings, repairs, and all the little ongoing expenses that add up over time. It’s usually better to be conservative upfront.

I’d also spend some time learning the basics of the market you’re targeting. Things like what occupancy rates actually look like, average nightly rates, busy vs slow seasons, etc.

And honestly, one of the biggest things is buying the right property. I always like investments that have multiple ways to win. So if the Airbnb market slows down, would the property still make sense as a long term rental or even a traditional resale later on?