Airbnb Rental Advice

[Jordan McDonald]

Hi everyone!

My parents have an unfinished room above their garage that is being used as storage right now,  and it is an absolute complete waste of space. I'm trying to convince my dad to let me and my brother pitch in to finish it into a 2 bedroom apartment and start renting out via Airbnb. We live in a suburb north of Houston and I've done a bit of research on nightly rates. I think $110 is reasonable, even a little conservative because there are some pretty nice amenities they will have access to (outdoor fire pit, basketball goal, swimming pool, hot tub). Are there any other aspects I should consider in my quick analysis below? Like any occupancy tax, additional expenses, etc.?

[Myka Artis]

In your cost to finish does this include furniture? How many people will you allow in? How many beds? If its a small number you might have to work your way up to $110/night but the pool and hot tub should get you there pretty quick. In Houston you should easily be able to rent out 20 days/mo on average. Research your area to see what amenities, how many guests, and pricing on other nearby listings that are similar to yours. If you want to start out at $110/night are any of the investors an Airbnb superhost? If so you can just put the listing under his name and you could start out at $110/night and start moving from jump. You seem like you've done your due diligence. Go for it!