Do you rent out your home through Airbnb?

amother

Thu, Jan 20 2022, 2:21 pm

I'm interested in hearing if anyone has an investment house that they use for Airbnb rental. If yes, in which location and is it profitable?

Thanks!

justmarried:)

Thu, Jan 20 2022, 10:57 pm

chavi bruk on instagram does. shes a chabad shulcha in montana. it doesn't seem like it its her whole home just a separate bedroom and bathroom with own entrance or something but I don't know.

amother

Hosta

Thu, Jan 20 2022, 11:09 pm

Yes we do. It's lot of work, way more then regular investment that's a rental but the plus is that we have a nice place we can go on 'vacation' that basically has all expenses covered.

challahchallah

Thu, Jan 20 2022, 11:50 pm

amother [ Hosta ] wrote:

Yes we do. It's lot of work, way more then regular investment that's a rental but the plus is that we have a nice place we can go on 'vacation' that basically has all expenses covered.

How far away is it from where you live? If it’s far enough that you go on vacation there, how do you manage it from a distance? What type of work is involved?

amother

Green

Fri, Jan 21 2022, 12:08 am

amother [ Hosta ] wrote:

Yes we do. It's lot of work, way more then regular investment that's a rental but the plus is that we have a nice place we can go on 'vacation' that basically has all expenses covered.

I used to own a vacation rental and totally agree with this (though I didn't own it for long enough to really have time to enjoy it). Eventually we rented it out as a long-term rental because it was just too much of a hassle. (We sold it because we got a good offer and were anyway moving very far away.)

amother

Fri, Jan 21 2022, 12:10 am

amother [ Green ] wrote:

Thank you for the feedback. Did you use a management company? which part was a hassle?

amother

Green

Fri, Jan 21 2022, 12:14 am

challahchallah wrote:

How far away is it from where you live? If it’s far enough that you go on vacation there, how do you manage it from a distance? What type of work is involved?

I'm not that amother, but the management of it is difficult and costly. You have significant cleaning fees after every use. And any minor maintenance issue (and that could be with the house, appliances, amenities, or something like the furnishings or WiFi) becomes a whole costly to-do as to how to fix it. And renting it out to just anyone means that the kitchen most likely won't remain Kosher, so when you want to go there that's an added stress.

My husband does a significant amount of real estate as a side job, but doing Airbnb was a real pain in the neck and wasn't as lucrative as we had hoped it would be.

amother

Green

Fri, Jan 21 2022, 12:14 am

amother [ OP ] wrote:

Thank you for the feedback. Did you use a management company? which part was a hassle?

We did not use a management company.

amother

Fri, Jan 21 2022, 12:15 am

amother [ Green ] wrote:

Thanks!

amother

Sage

Fri, Jan 21 2022, 12:15 am

Management companies usually charge TONS, especially in Florida. You’re left with no profit after paying their fees.

amother

Hyssop

Fri, Jan 21 2022, 12:27 am

amother [ Sage ] wrote:

Management companies usually charge TONS, especially in Florida. You’re left with no profit after paying their fees.

We converted one of the apartments in our multi family home into an Airbnb. I manage it myself. Totally makes sense that a management company charges a lot. It's a lot of work and cleaning and restocking and making sure it looks great and everything is in tip top form. It made sense for us right now as I have the time and we could use the extra income. But...it was a lot of money to set up (we made it nice) so it's really an investment but with a good return on our investment (iyh!). Obviously depends on the housing market. I could not do this from a distance, for sure would need someone to manage it for us.

amother

Antiquewhite

Fri, Jan 21 2022, 12:41 am

amother [ Sage ] wrote:

Management companies usually charge TONS, especially in Florida. You’re left with no profit after paying their fees.

How much do they charge? I guess it's a certain percent from what the renter pays?

amother

Hosta

Fri, Jan 21 2022, 4:33 am

challahchallah wrote:

How far away is it from where you live? If it’s far enough that you go on vacation there, how do you manage it from a distance? What type of work is involved?

It's about three hours drive away. Just the right amount to be 'away' but not too far to go a few times a year.

We have a crew of people we've gathered over the years. Cleaning staff, maintenance etc. And again, because we go often enough, we can keep an eye on it somewhat as well.

It's not in a vacation spot- people rent it for its size so I think that makes a difference too because of the kind of crowd it attracts.