If you’re looking at rental properties, there are typically two ways to do that. You can invest in a long-term rental like a traditional year-long lease. This method is the “traditional” way of renting – you find tenants that will sign long-term with your home, and then they live in it for however many years they want.
With the introduction of Airbnb, there’s another way to rent. These “short-term” rentals because people typically rent these properties for a few days at most. Short-term rentals are attractive options for people, though, because they can earn significantly more than traditional rents. A home in an in-demand area might fetch $2-3k per month with conventional renting, but on Airbnb, it might get $200 a night (which is about $6k a month).
The substantially higher profits have made many property owners look into short-term renting as a way to make money. If you’re looking at putting your home on Airbnb, here are three things you should know first.
It Can Be More Work If You Go It Alone
Depending on how you rent your home on these platforms, you might be spending more time managing your property. You’ll need to clean your home and re-make it in-between visits. You’ll also have to deal with handing the new guests the keys for each stay. By contrast, with traditional rentals, they sign the lease, and then you give them the keys and walk away.
However, if you partner with a hospitality company like Ayvio, they will take care of all of this for you. They come in, clean, and provide your guests with a stellar experience so you can sit back and relax.