Consider More than the Money when Advertising Your Home on Airbnb

The hidden costs of renting through Airbnb can out way the financial benefits.

Horror stories aside, there are many issues you need to consider carefully before you decide to promote your property on Airbnb, these include:

Wear & Tear

- although you should be covered by a bond for any major damage, it is the small scratches of paint and marks on furnishings, carpets etc that all add up. Some people paying for short tern accomodation might not be as careful as long term tenants who know how important references are in securing a good property to rent in this market.

Inconsistent Rent

- it is often possible to get more rent per week when promoting to holiday goers, but this income is inconsistent and often seasonal. For some it is better financial management to charge less rent per week, but have longer term tenants.

Neighbour Relationships

- most people renting through Airbnb are on holidays. They may well be coming & going different hours to the locals. This increased noise, traffic and people at all hours can be very distressing for your neighbours needing to get up early for work and school commitments.

Tenant Selection

- when you lease a property on a long term basis, you tend to have a lot of information about your prospective tenants which includes financial history and personal references

- people renting through Airbnb are under no obligation to provide you with such details, but that doesn't mean you can't ask more questions. Always try and establish who exactly is coming, what are their ages and the purpose of the visit. Then you can make a conscious decision if you would like these people in your home. 

On the other hand there are thousands of good local Airbnb experiences. For many the benefit of someoone caring for their place while they are away or renting a spare room in a large home that is no longer full can lead to some wonderful experiences for all involved.

If you have any questions about short term rentals feel free to call me to discuss.