Our new Airbnb

I had two local 70s flats on Airbnb but pulled them off. The income was more than permanent rental, but I found it a hassle managing them. They're walking distance from home, so getting there wasn't a big deal. It's just that the premium above permanent rental wasn't worth it - I could be getting lazy.
My two current Airbnbs are attached to our house. And they are unusual spaces, so don't really compare to other Airbnbs - that would be why they are always rented.
- I cater to three people, but it's mostly couples or single travellers.
- Cleaning is not a big deal. It takes one and half hours between guests and some of my guests have stayed a few months. I am gradually, very gradually, training my teenagers to clean.
- Yes, I probably make about 50% more than I would with them as permanent rentals. But for me it's not all about the money. As I wrote, these places are attached to our house and we have met some amazing people and had some great dinners and outings with them.
- No council issues
- No horror stories or problems at all.
Scott

 

Thanks guys. After weighing up the pros and cons, I think I'm still erring on the side of lazy.

 

Well we now have both of our properties rented out traditionally through a PM and I have to say, I'm really enjoying it! We've had some super annoying guests lately (including one who demanded she needed two new towels every day) and it's really nice to not have to deal with messages, coordinating cleaners etc. My bank balance doesn't like it as much but for now i'll enjoy it

I feel guests have changed over the last few years, from people who used to appreciate they were staying in someone's home to people who now expect it to be exactly like a hotel.

From, airbnb's previously biggest fan.

 

This is Airbnb’s fault.
They are promoting their properties as an alternative to staying in hotels, thus making the comparison inevitable.
Marg

 

Airbnb is now offering a service for hosts to make their offerings more hotel like....

 

2 clean towels daily is a bit overkill

 

Yep. Given Airbnb are doing that it's up to hosts to realign guest expectations. Instant Book is a bit of a problem. That's where people can book a place without having a discussion with the host. When an Instant Booking lobs on me, I check the reviews of the guest and then I look at the sort of places they have stayed at previously. (I can do that by clicking on the person who reviewed the guest.) If they have only ever stayed at flash properties with lots of bells and whistles, I send them a message and say, 'Hey, you know my pad is in a big old drafty building and nothing in it is new? Even the books and records are old. The stove is older than me. Have a really good look at the photos. If you want to cancel your booking, that's fine.'
I have never had anybody subsequently cancel, but I have had a fair few people arrive and say, 'Gee, this is better than what we were expecting.'
Scott

 

Yep whenever I get guests who are either Airbnb Hosts or who describes themselves "clean/tidy/neat freak" I get really nervous as they tend to be higher maintenance or more fussy. I ensure that I manage their expectation through my profile that my place is nothing like a hotel and that it is more suitable for people who are just after a place to crash after touring the city for the whole day. I also repeat this in my initial "greetings" message. I still find myself attracting the occasional neat freaks (10-15%) who marks me down for stuff that are not cleanable whereas the others who just wants a place to crash are more than happy with the place!

What I reckon would be hardest for me if I go back to a traditional long term tenant is definitely the frequency and amount of the cash flow - not seeing the rental payment in my account every few days (I discourage long term stays by offering no discounts for trip length) would suck.

 

Yeah I agree
I like property to both passive and profitable

 

Well after our relaxing 3 month break from Airbnb we are back on it - one in Melbourne and one in the Southern Highlands. We left our other property in Melbourne on traditional rental due to complaints from neighbours so decided it was just easier to keep it traditional rental.
Although it is more work, I am LOVING the constant stream of incoming cash into my bank account- every few days we get another nice little deposit and we are easily making at least 2.5x what we would make for traditional rental- a bit more stress but maximum 1-2 hours work a week.

When my husband and I talk about the pros and cons of airbnb (especially because we stress about reviews more than we should), we always take it down to an hourly rate- considering both properties would be cash flow negative on traditional airbnb, we aren't just making the profits, we are also making the difference between the loss and breaking even- and for a couple of hours work a week (the majority from our phones), its a nifty little business to be running

 

So, back in the saddle, Jodes. It's good if you can make it work.

 

Did you end up starting a (Perth) Thread on your experiences @thatbum?

I’m weighing up whether to give it a go as leases end later this year.