BIGASSTITTIES here for the rental talk. Currently own a bungalow in East Nashville as a long term rental. Mrs. Titties and I have been discussing converting it to STR. This thread interests me. Advice needed brothers!
From my minimal research, both have pros and cons. I think STR income is going to vary a lot from high-to-low season; whereas LTR will be more consistent (duh). However, LTR you likely need to do more "upkeep," as someone living there full time will want everything working; whereas a STR you can let some stuff slide/not have to spend as much on certain repairs. The owner told me when I was purchasing "this is absolutely not a long-term rental" -- but it also has kind of a 1/2 kitchen, a small bathroom, and could use some upkeep. But if you're staying only for 1-2 nights, and exploring the mountain and national park during the day, hopefully you're not in there other than sleeping.
Hello. I "airbnb" for a living for a while now (few years globally for a large company in the space and then a few years on my own). Happy to answer any questions that someone has, but a lot of details will depend on the specific market.
Did you purchase all of your properties? When I moved a dude bought all my furniture for an Airbnb and he said he rents condos or homes and lists them. I was surprised his landlords allowed it, I mean it seems difficult to conceal
A lot of spaces don't allow it anymore -- the condo where I live doesn't allow any rentals less than 6 months. I've also stayed in airbnbs where the host specifically requests you NOT tell anyone you're renting through airbnb. If anyone asks, they pretty much ask you to lie and say "I'm Jon Smith's cousin/brother/etc." Short answer is yes, many landlords prohibit it. Especially in big cities.
Did I purchase all of my properties? No, I didn't, but that's going to be an extremely market specific choice as to what the right move is. If you are trying to decide this I suggest doing your own extensive research in a number of areas. I'd say anyone giving you blanket statement advice lines like "you should always buy" or "real estate is a fantastic investment" one way or the other without a ton more knowledge of your exact details is probably not broadly experienced in STR.
I'd also add that if this is your first jump into the space maybe don't buy something if you don't have to. That way you aren't crazy locked in and over your head.
Main beam under the cabin is broken, lots of sagging in the floor. Some of the other beams are improperly attached. Getting estimates on repair work now.
This space has piqued my interest as well. Wife and I bought our first two long term rentals this year and things are going well thus far. (Knock on wood). I’d like to get something in the gulf shores area but haven’t researched it yet. I thought for something like this, we might do our first property at Grand. Maybe a condo at Shangri La. Lots of realtors are property managers, so that is where you can start.
Nobody rents based on foundations. Worst case scenario your guests fall through a collapsing floor. YOLO.
If they didn’t want to fall through the floor they should have gone to engineering school. It’s their fault honestly
So have been working on airbnb 2.0 during the shutdown. Finally a light at the end of the tunnel. Thinking it will be finished in about a week or two. Will also be a good bugout spot.
We put our cottage in Michigan on vrbo, but we don’t do it with the place in Florida. It’s nice to know when we want to head down we have that as an option even on late notice.
Space, normally I rent my house out in Spain, south of Barcelona, .5 miles from the beach to U.K. citizens for July and August. What are your thoughts on their 14 day quarantine and do you think internal vacationers will make this up during those months??
Yes - I Airbnb my summer house in the south of France, as well as my ski chalet in Jackson Hole in the off months. What would you like to know?
Hey, sorry, but your wording has me a little confused. Could you elaborate a bit? I’ll add I don’t operate outside the US so I’m not hyper aware of those markets.
I’m thinking of buying a place in Destin in the next year or two, but I want to rent it out when I don’t want to use it. Hoping to make my money back.
I've been thinking about putting the place in the Hamptons on one of these sites since we never go there I just can't decide if its worth the hassle
At least if it covers taxes etc that’s nice. We only rent the cottage out a couple weeks in the summer so we still keep access but what we can get out of it over those few weeks covers a lot outside normal payments. since it seems people think it’s bs here’s the picture from up there last weekend.
Did I fuck up something? My friends have sent me like 3 errors already -- apparently airbnb's system does not have spellcheck
In my experience as a renter, it's best to specify in the house rules things you don't want people to ejaculate on if you have a preference
Also always good to get a family member/friend or two to rent it for super cheap for 1 night and just leave you a 5 star review. Pay them back the small service fee. Typos, bad descriptions, photos only do so much.. reviews are everything.
There's a fold out couch, and I've had friends camp in the driveway. But it's still like a 250 sq ft tiny home
I know nothing but "A growing green wall full of hops, flowers, and ivy to ensure your privacy." Makes it sound like there are neighbors nearby, though it looks like there is not.
Already have like 4 friends staying there. Having them pay through airbnb and I venmo them a portion back.