User Panel
User Panel
User Panel
|
Posted: 1/17/2021 1:28:41 PM EDT
[#1]
No personal AirBnB experience here, but I do know many states and municipalities have some oddball laws about running them, taxes, occupancy, insurance, etc. Hotels and other hospitality groups hate them and have successfully lobbied to have some pretty retarded requirements and laws for them. Make sure you research the specific area before you take the plunge.
|
|
|
|
Posted: 1/17/2021 1:30:54 PM EDT
[#2]
Airbnb gave 500k at the start of the Riots this summer to BLM. They also cancelled all reservations in DC for this weekend. Something to keep in mind.
|
|
|
|
Posted: 1/17/2021 1:34:41 PM EDT
[#3]
Airbnb’s suck
I feel really sorry for the people who have one as their neighbors. Nothing like having constantly rotating people in and out who party all the time and don’t give a fuck about their neighbors or the house they’re in because it’s not theirs. Mainly they’re just used as party houses, unless it’s one of the ones that’s only rented out for weeks at a time. |
|
|
|
Posted: 1/17/2021 1:45:54 PM EDT
[#4]
A friend has one but uses VRBO or whatever it's called. It's in the middle of 80 acres on a private drive. Nice secluded place. He says it's a lot of work.
|
|
|
|
Posted: 1/17/2021 1:53:34 PM EDT
[#5]
Make sure you get a lawyer to read through the policies before listing anything with these rental property companies. Some will force refunds and such for things outside of your influence (power outages, internet, weather). COVID has really screwed some owners with deposit refunds for cancellations.
|
|
|
|
Posted: 1/17/2021 4:27:14 PM EDT
[#6]
Quote HistoryQuoted: A friend has one but uses VRBO or whatever it's called. It's in the middle of 80 acres on a private drive. Nice secluded place. He says it's a lot of work. @Waldo Are you able to elaborate on your friends statement? |
|
|
|
Posted: 1/17/2021 4:38:50 PM EDT
[#7]
Quoted: Currently have some rental properties that do well for me and I’m looking to expand into the Air BnB side. I already have a trusted friend that manages my other properties so that helps eliminate the management aspect. Some details: I’m looking into buying a home in PA near a popular Ski Area for reference. It’s centrally located, an easy drive for NY/NJ/PA residents and is in a safe, accessible area. I figure the winter would bring Ski customers and the summer may have folks looking for an outdoor experience without dealing with camping. What are your experiences with it, good/bad/ugly...? This chick did a story about people that lease or sublease apartments, then AirBnB them. Looks like some people are doing pretty well with it, but it also looks a bit sketchy  People Are Becoming Millionaires From Airbnb... This Is HOW |
|
|
|
Posted: 1/17/2021 4:40:28 PM EDT
[#8]
My wife cleans and preps a few here locally. They stay crazy busy.
I’m talking 2/3 bedroom houses in a 25k population Missouri town staying rented 4-5 nights a week |
|
|
|
Posted: 1/17/2021 5:01:32 PM EDT
[#9]
Quote HistoryQuoted: This chick did a story about people that lease or sublease apartments, then AirBnB them. Looks like some people are doing pretty well with it, but it also looks a bit sketchy  https://www.youtube.com/watch?v=qx3TEOzsD6II looked into that. Make 10k a month with very little investment. Basically you lease an apartment in a new high rise and list it on airbnb. Nothing shifty. You tell the landlord what you are using it for and have it written into the lease that that is okay. Landlord will say yes because if its a new building they will rent to anyone to fill it up and since it's a fairly empty building there are less chances for neighbors to complain. Only downside, lots of people did this and now the market has too many. That's the downside of little capital required any tom dick or harry can do it. Pretty easy to run the numbers. Check the buildings listings for monthly rent. Then check what people now are getting for similar in that neighborhood. Took me about 2 mintues of reasearch to find that you lose money even at full vacancy for the month. Oh well, was probably nice before people made all these videos giving away the trick. |
|
|
|
Posted: 1/17/2021 5:03:55 PM EDT
[#10]
Quote HistoryQuoted: @Waldo Are you able to elaborate on your friends statement? Not really. He's a busy guy with a lot of irons in the fire and it's a large property. I'm not even sure he's renting it this year with the covid shit. I can't find the listing so he may have pulled it and just gone to repeat customers. |
|
|
|
Posted: 1/17/2021 5:06:38 PM EDT
[#11]
I gather that people who rent airbnb's out are not making money but rather minimizing loses from owning more than one property for some sort of reason. I've also seen a lot of listings by the same person and you figure out they aren't just a person who owns all the properties but rather a property manager working for a big company that has a bunch on their portfolio that they can't offload. Or maybe they think they can sell them in a few months and don't want the hassles of intermediate term renters.
My impression is it's like Uber where you can't make money off it but if you have a car not being used and some time to kill, then it's good for a few extra bucks you wouldn't otherwise make. |
|
|
|
Posted: 1/17/2021 5:10:56 PM EDT
[#12]
Quote HistoryQuoted: Airbnb’s suck I feel really sorry for the people who have one as their neighbors. Nothing like having constantly rotating people in and out who party all the time and don’t give a fuck about their neighbors or the house they’re in because it’s not theirs. Mainly they’re just used as party houses, unless it’s one of the ones that’s only rented out for weeks at a time. I'm not sure this is true. Party types don't typically rent in quiet suburbia. And if you live in South Beach or The Village or some other party area, then you are kind of used to loud neighbors and parties. This is more of an urban legend that gets passed around by so many that it just has to be true. |
|
|
|
Posted: 1/17/2021 5:31:10 PM EDT
[#13]
Quote HistoryQuoted: Airbnb’s suck I feel really sorry for the people who have one as their neighbors. Nothing like having constantly rotating people in and out who party all the time and don’t give a fuck about their neighbors or the house they’re in because it’s not theirs. Mainly they’re just used as party houses, unless it’s one of the ones that’s only rented out for weeks at a time. Thank you proving to me you don't have a clue. We have two, and we have never had the made up issues you type of. Both of ours are also making a nice profit. |
|
|
|
Posted: 1/17/2021 6:17:54 PM EDT
[#14]
My neighbor rents his house on VRBO. (we live on a lake) he gets $350+ a night and it stays rented in the spring/summer. Thankfully he does a good job of screening renters, and doesnt have a party house.
|
|
|
|
Posted: 1/17/2021 6:35:56 PM EDT
[#15]
My nephew runs 8 or 9 houses at the beach. These houses have been vacation rentals for years so the transition to Airbnb was easy. He is always busy with changing lock codes and stocking with supplies.
There are guests that ignore the no party rules, but there are cameras in the common areas and he checks them throughout the day. He has had to go there to shut down the parties, but not too often. It keeps him very busy, but it is multiple properties. |
|
|
|
Posted: 1/25/2021 8:30:42 AM EDT
[#16]
Quote HistoryQuoted: My nephew runs 8 or 9 houses at the beach. These houses have been vacation rentals for years so the transition to Airbnb was easy. He is always busy with changing lock codes and stocking with supplies. There are guests that ignore the no party rules, but there are cameras in the common areas and he checks them throughout the day. He has had to go there to shut down the parties, but not too often. It keeps him very busy, but it is multiple properties. @tinysd Would you say it’s devolved into a full time job for him? 8-9 properties seems like a lot, more than I’d be willing to entertain at this moment in my life. |
|
|
|
Posted: 1/25/2021 8:52:31 AM EDT
[#17]
Quote HistoryQuoted: I gather that people who rent airbnb's out are not making money but rather minimizing loses from owning more than one property for some sort of reason. I've also seen a lot of listings by the same person and you figure out they aren't just a person who owns all the properties but rather a property manager working for a big company that has a bunch on their portfolio that they can't offload. Or maybe they think they can sell them in a few months and don't want the hassles of intermediate term renters. My impression is it's like Uber where you can't make money off it but if you have a car not being used and some time to kill, then it's good for a few extra bucks you wouldn't otherwise make. Actually it's likely that they are using a vacation management company like Evolve Vacation Rentals, they take care of all the listings, advertising, booking, customer service, etc for 10% of the rental fee. |
|
|
|
Posted: 1/25/2021 8:57:30 AM EDT
[#18]
Quote HistoryQuoted: I'm not sure this is true. Party types don't typically rent in quiet suburbia. And if you live in South Beach or The Village or some other party area, then you are kind of used to loud neighbors and parties. This is more of an urban legend that gets passed around by so many that it just has to be true. No it happens here in Atlanta so often it cycles through as a local news story. Nice quiet usually upscale neighborhood and the airbnb house is the weekend party spot. Often the host charges admission for the party and makes money on it. |
|
|
|
Posted: 1/25/2021 9:43:57 AM EDT
[#19]
I work with a guy who turned his garage into a small apartment for his kids to live in while they were in college. He now gets $50 a night for it on airbnb. He's less than a mile off of I-95 and most of the people that stay with him are snow birds and repeat customers. He rarely even sees the people. He goes home for lunch and cleans the room, sanitizes it, etc. and is back to work within an hour every day. He is usually booked out for 4+ months, but has been slightly slower do to covid. He realizes over a grand a month that they use for vacationing. They go on some pretty nice trips every year.
|
|
|
|
Posted: 1/25/2021 10:11:06 AM EDT
[#20]
Quote HistoryQuoted: @tinysd Would you say it’s devolved into a full time job for him? 8-9 properties seems like a lot, more than I’d be willing to entertain at this moment in my life. It isn’t full time hours, but the hours aren’t regular. Luckily the locations are close to each other and he lives close. What would annoy me is that it’s like he is always on call. It is hard to establish a routine when your schedule is based on the schedule of others. He seems to enjoy it. |
|
|
|
Posted: 1/25/2021 10:13:01 AM EDT
[#21]
Check out YouTuber Tim Dillon. He has lots of helpful Air BnB videos
Lots of good info in this video.  Tim Dillon Is At War With An Airbnb |
|
|
|
Posted: 1/25/2021 10:24:57 AM EDT
[#22]
Remember reading at the start of the virus shutdown an article on a couple of people that had bought several houses for the purpose of AnB. No idea how it worked out but one of them had used the income to buy house after house and had 10 houses now he couldn't rent.
|
|
|
|
Posted: 1/25/2021 10:25:53 AM EDT
[#23]
my dad turned 4 of his long term rentals into air BNB.
they make great money, most renters are pretty good, a few are beyond horrible.. if they're local and the only want to rent for a night or two run. read the reviews on the person before renting. I'm glad he set them up early, since then the asshats at the city have decided to limit the number people can have to 1. |
|
|
Win a FREE Membership!
Sign up for the ARFCOM weekly newsletter and be entered to win a free ARFCOM membership. One new winner* is announced every week!
You will receive an email every Friday morning featuring the latest chatter from the hottest topics, breaking news surrounding legislation, as well as exclusive deals only available to ARFCOM email subscribers.
AR15.COM is the world's largest firearm community and is a gathering place for firearm enthusiasts of all types.
From hunters and military members, to competition shooters and general firearm enthusiasts, we welcome anyone who values and respects the way of the firearm.
Subscribe to our monthly Newsletter to receive firearm news, product discounts from your favorite Industry Partners, and more.
Copyright © 1996-2024 AR15.COM LLC. All Rights Reserved.
Any use of this content without express written consent is prohibited.
AR15.Com reserves the right to overwrite or replace any affiliate, commercial, or monetizable links, posted by users, with our own.
