Would you let someone Airbnb your property?

Discussion in 'Airbnb & Short Term Letting' started by jodes, 16th Feb, 2017.

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How much above market rent would someone have to offer for you to allow them to run it as airbnb?

  1. I wouldn't do it regardless of how much money I was offered!

    5 vote(s)
    31.3%

  2. Double market rent

    1 vote(s)
    6.3%

  3. 50% more than market rent

    5 vote(s)
    31.3%

  4. 10-20% more than market rent

    3 vote(s)
    18.8%

  5. I'd consider market rent if they had good credentials

    2 vote(s)
    12.5%
  1. jodes

    jodes Well-Known Member

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    Sydney
    If your property was available for rent (either newly purchased or your tenants had moved out)- In a market with a low vacancy rate, hypothetically would you consider renting your property to someone who wanted to airbnb it full time (and take all responsibility) if you could get a higher weekly rate? If so, what would it take?
    Eg- market rent is $400 per week, bond, $1600
    If someone offered you $450 per week and a $2500 bond would this be enough? $500? What if they were a professional airbnb-er?

    (This question is purely out of interest!)
     
    jodes, 16th Feb, 2017
    #1
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  2. Gockie

    Gockie Life is good ☺️ Premium Member

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    Maybe if market rent was $400 I'd want $500 per week or more if a tenant was to short term let it. I think an $50 wouldn't be enough (more wear and tear), and could also get neighbours offside.

    In a high vacancy area the answer could be different though. I'd be thankful for a responsible leaseholder.
     
    Gockie, 16th Feb, 2017
    #2
  3. The Gambler

    The Gambler Well-Known Member

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    Personally I think AirBnB is dodgy. Have your read their guidelines?

    I wouldn't allow it under any circumstances.
     
    The Gambler, 16th Feb, 2017
    #3
  4. dmb1978

    dmb1978 Well-Known Member

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    ACT
    I think you may have some insurance issues, given the actual tenant is not living in the property.

    Been through this recently with tenant airbnbing part of the house.

    We received no extra rent but they paid the extra money we had to pay to switch insurers.
     
    dmb1978, 16th Feb, 2017
    #4
  5. thatbum

    thatbum Well-Known Member

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    I'd be perfectly fine with tenants that wanted to airbnb one of my properties - no extra rent beyond market rent required.
     
    thatbum, 17th Feb, 2017
    #5
  6. wylie

    wylie Moderator Staff Member

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    Brisbane
    I'd want considerably more if my place was rented out to different people every week with no background checks done, and a grey area regarding insurance. We wrote to the owners the two times we have used it, and if they liked the way we wrote, we were in. That was the extent of the checks. We had no prior history with the site.

    I know we got a great wrap up and he said we left the place beautifully clean and tidy, so clearly he's had others who've not left the place so clean.

    The wear and tear, but more importantly, the insurance implications would worry me. Someone who overflows the bath will clean things up as best they can, but aren't going to let on for fear they will be asked to compensate for damage discovered six months later.

    Renters generally treat the house better because they are permanent, and you have a lot of detail about them. People staying a couple of nights or a week only will not all have the same attitude IMO.
     
    wylie, 17th Feb, 2017
    #6
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  7. Beano

    Beano Well-Known Member

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    Have many PC converted their building so the premise can be use as short term rental (With the boom in hotel industry) ?
     
    Beano, 16th Mar, 2017
    #7
  8. Xenia

    Xenia Well-Known Member

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    16th Oct, 2015
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    No!!!!
    Not my properties or clients properties.
     
    Xenia, 17th Mar, 2017
    #8
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  9. is_don_is_good

    is_don_is_good Well-Known Member

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    26th Dec, 2016
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    Location:
    Melbourne
    I've got 3 airbnb apartments in the Melbourne CBD and i used to have one in South Melbourne. We have never had an issue and they are cleaned between every guest. The property managers always thank us for keeping them so clean. Guests know they can't screw up or they'll get bad ratings and they know the rules when they book.

    There are so many buildings and rooms in the CBD packed with bunk beds and international students that have no idea how to clean and who leave the apartment in terrible condition. Friends and visiting family are constantly going in and out of buildings with suitcases anyway.

    Why would you want to sign someone up and risk that when you could get more rent in an oversupplied apartment market where thousands more apartments are going to be finished in coming years?
     
    is_don_is_good, 17th Mar, 2017
    #9
  10. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    Under no circumstances would I allow a tenant to sub-let my property to anyone without my approval of the applicants first. If you want to invest in something over which you have no control, buy shares in a pharmaceutical company.
     
    Peter_Tersteeg, 17th Mar, 2017
    #10