Larger home or smaller apartment

[Lorena976]

Hello! This is my first time posting here. I own a home in Palm Bay FL is about 20 minutes from the beach. 
the property already have a one bedroom apartment that’s been listed for less then a year. The profit hasn’t been great but is only been rented for the lower season so far. 

I still have the rest of the house wish has a total of 4/2 with a pool. I am debated between making it two 2/2 or leaving it as is to rent it. I am planning to leave the county and would like to leave it set up for the maximum earnings potential. Any advice? 

Thank you 

[Helen3]

If you're leaving the country you will need a cohost to manage things locally @Lorena976 

[Elisa]

Hi @Lorena976 😊, 

Thank you so much for asking this question here!

What do you think of Helen's suggestion?

Have you ever thought about a co-host?

I'm sharing this guide with you 👉 How to find and become an experienced Co-Host on Airbnb? 

Don't hesitate to let me know if you need more information!

Warm regards 🌻,

[Ron10828]

Hi Lorena.  I'm not positive, but I think you mean the property is a 4 bedroom/2 bath, and you are think of making it into 2 2 bedroom apartments?

If I'm correct in my understanding, I suspect it would be fairly expensive to do the remodel, would take a long time to get a return on your investment.  I would be inclined to keep it as a 4/2.  I suspect that potential guests are more inclined to rent a house than they are to rent an apartment.

Just my 2 cents.

Good luck to you.

[Rohini19]

Hi Lorena,

The decision can be dependent on many factors. You can do some research on the competition in your area. (easier way is to go to Price settings on calendar, on the price edit screen, you can see "Similar listings in your area", OR you can even search as a traveller for your town/city and check out all the listings, how their calendar is booked/free and their pricing) 

Compare listings with both 2 bed apartments and 4 bed houses to host large number of guests.

Check out Airdna.com for your address for more insights/earning potential. Please feel free to direct message me too.

[Ryan3719]

consider added a neche amenity to attract more renters. i have arcade games in mine always stayed booked before i was hit by a hurricane . if you are leaving maybe have both options under differnt pricing? maybe a second listing for the whole place and a cheaper listing for the smaller space to keep down on cleaning fees. 

[Reydon0]

Hey @Lorena976 , I'd keep it as a 4/2. Shared spaces are cool but may be less favorable with guests. 

Regards,

Reydon 

[Rich4387]

We own all 2br/2ba units as we find them much more appealing to travelers. Most people travel with kids, other couples, or need the other bedroom to use as an office if they are on business travel. We do manage a unit for an out of state owner that is similar to your situation and we converted the listing awhile back to renting the entire place and have seen much more success since then. Originally they rented only the 1br with a kitchenette and private bathroom and it rented at 50% occupancy and for very low daily rate. Since we changed to taking place the occupancy has improved to 85% and for almost double the old daily rate. 

As long as you have good reliable cleaners and access to handyman for repairs you can still manage yourself. We are happy to discuss managing your place if you would like to? There are advantages to using a manager like us as we have a lot of knowledge of how to get maximum bookings as well as having reliable cleaners and our own handyman for any repairs as they arise. My website is * 

*[Link removed in line with the Community Center Guidelines]