Keeping Our Home a Full-Time Rental

[Stacie5]

My husband and I are buying a new home and are considering keeping our current one as an Airbnb rental/short-term furnished rental. I'm a little apprehensive since we have only ever listed it twice and I ended up with average reviews, some for things I can't control like the neighborhood. It's one of the most desirable neighborhoods in Louisville for young renters and first-time home buyers who want to be able to walk to a bar or restaurant, but if someone is used to a generic suburb they may be afraid of the industrial nature or the other houses mixed in that need some upkeep. I feel confident that I can have high ratings in all other categories if we transition our home to a full-time Airbnb rental, but I'm worried about the ones I can't control as much keeping us from ever being Superhosts and affecting our ability to turn a profit. I don't want to keep this home, buy furniture, pay the bills and then lose money in the end. I'd love to hear from people who have been in similar scenarios or found success in keeping a property for Airbnb full-time.

[Cormac0]

@Stacie5

I think it’s a lot less work long term renting and the income is consistent, I have an apartment idle for one and a half months while listed on Airbnb and I'm thinking of delisting it, as I'm not getting bookings even though I'm got five-star rating across the board.

When Airbnb is good it’s very good income wise but in the round, is it any better than long term renting, when one considers your meeting some nasty and vindictive people just look the blogs.

My advice would be to give it six months and see in the round how much money your turning over and the expenses and time involved then make an informed decision.

For example:

Smart prices was suggesting I drop my price to 90 per night for four people.

90*30day = 2700 * .75% occupancy = 2025 I’m getting 2500 + 400 services charge long term as it is, without the additional laundry ,gas or electricity bills to pay.

Regards

Cormac

The Explorer’s Club Krakow