Airbnb changed my life, how has it changed yours?

[Sorcha3]

Hey all! 

   My name is Sorcha, I am a host based in Portland Oregon. Airbnb completely changed my life.  The income from my Airbnb and those that I manage have created so much financial freedom for me and my family. The expansion in our income and the connections I've made with guests have brought so much joy, freedom, and richness to my life. And now I am kind-of obsessed with helping others do the same. I am also a realtor. I specialize in teaching regular humans how to identify, purchase, set up, and cashflow investment properties, specifically Airbnb's in the Portland Metro Area.  Focusing on that as my business model has increased our income even more and I think I am about a year to a year and a half away from my husband being able to quit his job as a full time DevOps Engineer. 

  I would love to hear how the platform has changed your life for the better and connect with other hosts! I have a couple clients right now who are contemplating taking the leap to Airbnb their homes and while I can tell them about my experience until the cows come home I find sharing the stories of others, and being able to see how the platform is used across the world to create freedom and help people belong anywhere is super powerful! 

Peace, love and big adventure! 

-Sorcha

[Henry714]

@Sorcha3 My wife Mable and I have only been hosting for 3 months or so, so we can't really testify to a lot of effects yet. But I do tell people that hosting has to some degree restored my faith in humanity. We have been amazed at how respectful and conscientious our guests have been so far.

Many times, guests will leave, and at first glance you can barely see any sign anyone was there. It has been amazing.

Henry

[Sorcha3]

Thats so amazing @Henry714 ! 

   Have you been tracking your profits and losses?! I found when I started tracking that I was really blown away. I own a couple different businesses and I really enjoy the process of business-ifyiing anything I can. (though I know thats not everyones motivation). It's been the fastest any business I've owned has ever ramped up. I have a feeling when you get to high season you're gonna be pleasantly shocked at not only how amazing people can be as guests but how much literal payback there is in being kind and creating a good host experience. My husband was super skeptical initially as we invested about $12K in converting our garage to an ADU. We're on track to fully recapture all those expenses before April and the rest of out money will be purely profit. And I get to meet amazing people all the time! It's awesome. 

-Sorcha

[Helen3]

Congratulations on having a successful start to your STR business. 

If you want to demonstrate to your clients how the STR model will work for them you need to evidence how the model will work for them locally based on local demand and supply modelling and pricing. @Sorcha3 

Just for example because I have a successful STR model in Bristol, England doesn't mean the model will be successful in your clients location/type of listing. 

Many areas are suffering from oversaturated markets and falling demand.

[Sorcha3]

I think this is a great callout. Fortunately there are a lot of tools out there to help clients with identifying these things. Also as someone who works in a market that's extremely saturated (US Real Estate Agent) I also think there are very few markets that truly don't have room for more people especially in the STR space, because every stay is unique and every host is unique. Perhaps time will change my mind on this. But even as we go through the winter season, which historically has half the saturation of summer in PDX I am consistently getting booked. 

[Mark4752]

I see you're new to AirBNB.

I too was happy for the first two months and quickly became a super host. Then I experienced several con artists looking for free stays. The way it works is they (guests) make ridiculous claims, give a low star rating, and then claim a full refund.

One guest gave me three stars because I had stairs! I was given a warning from AirBNB because of the three star review.

Recently I had a guest stay for five days then cancelled the last two days. They made untrue allegations and took a photo of the kitchen (an area of the house guests are not allowed) which was undergoing renovation.

The last guest cancelled after staying one night, as her job fell through. Customer services gave her a full refund despite there being no issues with her stay.

What is the point of opening your home to strangers when AirBNB don't payout.

In short, I'm leaving AirBNB. I made a decent earning for a few months, but customer service are completely untruthful and don't care about hosts.

[Paula]

Hello @Mark4752, I am so sorry about this situation.

As my colleague @Sophia has mentioned in another thread, we have made sure to pass your case to the team for review.

They should contact you soon.

[Helen3]

To give an alternative perspective to @Mark4752

@Sorcha3  I've hosted for eight years had hundreds of guests and apart from my second guest I've not had any problem guests 

I've never had a guest make a claim or complain about me. 

I've had solid five star guests for nearly four years (apart from a host who marked me down to four stars because of the location  - which she knew well as was visiting her daughter ). 

vetting your guests to ensure they are a good fit for your property is key . 

[Sorcha3]

I am learning more and more about vetting guests! It's an art that comes with experience. However I find it's quite similar to vetting clients. I have been fortunate that my business background and real estate career translate well to the short term market as I started out in real estate specializing in long term rentals. Conceptually they are nearly identical, the amenities and target client are different but the principles are the same. Be kind, do good, offer help, set boundaries, create space, maintain space, know your target buyer/ guest/ renter and always be improving. 

Do you feel as a host it would have been helpful to have a class on how to vet guests? I have been working on a "Business of Airbnb" course. And I have been contemplating if this would be helpful. 

[Karen3957]

I'm glad for your success Sorcha and it was informative to read the replies you received, such as the issues that happened with guests. I totally agree with supply and demand. I suggest anyone thinking of starting an Airbnb is to look at your area for all properties available on Airbnb (keeping in mind that doesn't include other rental web sites). The area I'm located had 3 properties a couple of years ago; now there are 33 units. Looking through these units there is much diversity so that is good for large and small groups looking for units (although I'm not booked as often as I would like). I also think anyone thinking of a being a host is the 'cashflow' is needed as you're not a charity, but there are other values a person has that are enacted as a host. So what are they - do you care about safety, quality, the type of experience your space provides, etc. Is a person prepared to be a host in service to people?

[Sorcha3]

"Is a person prepared to be a host in service to people?" I LOVE THIS QUESTION KAREN! 

I think that's such a deep and valuable perspective. Because thats the heart of hosting, helping people "belong anywhere" means meeting them where they are at in humility and service. 

I also love the shoutout about market saturation! It's something so many people overlook when hosting and it's so important to the bottom line! 

[Eileen462]

@Sorcha3   Hi Sorcha!  I am so happy to hear about your success with AIRBNB  its so encouraging to those of us who struggle.  My issue is that my home is in a depressed very poor homeless area and no one wants to stay here thats on a vacation for sure.  I think my target guests would be those who are here for work perhaps for extended stay in my area, or those who want to visit the huge Indian Casino down the road from me.  I have thought about making business cards that invite people who need to stay around the Casino?? I am wondering how I can begin to get more bookings.  I ask alot of questions hoping to fine tune my knowledge of how this venue works so I can apply it.  Any feedback from successful AIRBNB hosts would be so appreciated!  Smiles,  Eileen

[Sorcha3]

Hi Eileen! 

   It's HARD to figure out a business model when you're in a location that's not a popular tourist destination but it's TOTALLY possible! If you want to drop a link to your listing I'd love to take a look and help you however I can. Sometimes there are amenities you can offer that offset the location problems, I also know people who have very successful business models marketing to contract construction and labor workers! It just takes some creative thinking and tweaking! 

feel free to message me! -Sorch

[John7474]

@Sorcha3

Hello Sorcha –

How exciting to read about your experience as an Airbnb Host!

I can relate!  My partner Rodrigo and I host our home in Oaxaca, Mexico. 

For us, Hosting has been a very positive experience! It has enriched our lives in so many ways. In the process have learned a lot about ourselves and the ins and outs of starting a business as well as other things: .

• We have met some wonderful guests from all walks of life and corners of the globe.  It’s always a pleasure open our home to those who appreciate what we have to offer and the unique experience of life in Oaxaca.
• Having difficult guests from time to time, we have earned to have better boundaries.  It has reminded us, that we make the rules and the importance of having extremely clear communication.
• Since Hosting is a business, it has allowed us to hand pick and work with a wonderful team including our Property Manager, Contractors, Garden Staff and Accountant. It truly takes a village!
• As Hosts, it’s a pleasure to give back to the community of Oaxaca. We encourage our guest to visit our favorite restaurants, hire our recommended tour guides, and frequent our neighborhood businesses.
• Also, as Hosts, it has allowed us to work hand in hand with the skilled support staff at Airbnb. When we have questions or there is an issue, we have found the staff at Airbnb to be incredibly supportive, and resourceful.
• As Hosts, it has allowed us to be part of the Hosting Community. We have learned from and also had the satisfaction of offering advice to our fellow Hosts.

Wishing you continued success and enrichment from your Hosting experience!

Best,

John

[Sorcha3]

John!!!

1. I would love to call out the bullet point list as the easiest to read and appreciate that level of detail in this forum! PROPS

2. I have ALWAYS wanted to go to Oaxaca! Have you seen the show "Somebody Feed Phil" ? They did an episode there and it looks INCREDIBLE. I have saved your listing to my favorites for future! 

3. I really appreciate your callout on boundaries, I think it's SO true, the longer you host the more comfortable and clear you get about your boundaries. It's also something I always advise people to be thinking about when they tell me they want to become an Airbnb investor. 

Thank you so much for the support, advice and welcome! ❤️