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I would propose that being a landlord, and hosting on AirBNB have the potential to be quite different things. My father is a landlord, he shares similar storie
by LogicX 15y ago
I would propose that being a landlord, and hosting on AirBNB have the potential to be quite different things. My father is a landlord, he shares similar stories of disaster. He also rents out in a low-income, remote area.
My AirBNB offering is near Boston, where 85% of my visitors are traveling here as tourists from far away. I keep my nightly price reasonable, but on the higher end. I ask plenty of questions about the visiting party, where they're coming from, what they do for work, what they plan to do while here, and I require a photo.
If I receive any questionable answers, they delay in providing the information, or just anything seems off, I call it off with that prospect.
I've hosted well over 100 people in the last 18 months for over 100 nights. With the exception of one of my first guests, I don't believe any of the people who have stayed with us are the kind of people that would cause damage, much less any trouble.
- pontifier 15y agoWhat would you do if you had had the same sort of experience that EJ had? I think you might change your mind. Let's look at your numbers... I'll guess that you charge $150/night (minus the $20 AirBNB fee = $130/night you had 100 nights in 18 months, for an average of ~$722/month. That's a tidy sum. Is it worth the work, risk and headache? Would the value of the extra property you are keeping and renting provide a better return if you moved to a smaller place and put the value difference in another investment? These are questions you have to ask yourself, and everyone will have different opinions. My opinion is that being a landlord means having illiquid assets that provide a low return with high risk and a lot of work.