Using Airbnb to make money

Cattle Rustler

Crow
Gold Member
I'm pretty fucking sure my guest is a pedo. Old white 60-something year old dude with a 20 year old asian who helps the old dude with everything. The asian dude looks almost exactly like the guy. Oz Pedo pic cross posted from he PizzaGate thread. Their outfit? Shorts, shit, and sandals.


 

PrettyBoyAJ

Sparrow
I have to bump this thread as I'm looking for some passive income to supplement my Crypto gains. This thread has been amazing. Any of you guys still doing this?

I'm looking to rent a place in either Downtown Atlanta or Buckhead and then rent it using Airbnb. I'm going to have to furnish it with a couch, bed, and television.

So my question is should I get a 1 bedroom or 2 bedroom? Also would getting a highrise be more profitable? Also what is a good way to figure out what the best area or even condo to get?
 

BoneDaddy

Robin
Gold Member
PrettyBoyAJ said:
Is anyone on the forum currently doing this. Would love to get some input.
Yep, still doing it and in the process of bringing yet another property online. Let me know if you have questions and I'll try to help if I can.

Bone
 
Is there a limit on the number of properties you can list on airbnb under your name? can you list 5, 6 properties in the same city without airbnb or City Council getting on your case, asking for a professional license like a tour operator's?
 

BoneDaddy

Robin
Gold Member
HoofHearted said:
Is there a limit on the number of properties you can list on airbnb under your name? can you list 5, 6 properties in the same city without airbnb or City Council getting on your case, asking for a professional license like a tour operator's?
First, let's define some terms. I see people increasingly referring to a furnished living space, offered for rental periods of less than 30 days referred to as an "AirBnB". While that is accurate in a sense, keep in mind that AirBnB is just a marketing platform, one of many.

You've touched on an important point. I'd say this is the most important point when considering the operation of short-terms. That point being local regulations.

AirBnB, VRBO, Booking.Com, TripAdvisor don't care - they'd be happy for you to list 100 properties or more. Your primary concern is the regulations put forth by the local municipality where your short-term rental is located. And that's different in every country, province, state, county or city.

Some cities require permits to operate short-term rentals. Others don't seem to care. The explosion in demand for short-term rentals is putting this on the radar screen of more and more municipalities, and many are putting regulations in place to restrict or even prohibit this kind of activity.

Most municipalities levy a fairly onerous tax on short-term rentals, typically the same as hotels. So you'll need to consider the collecting and remitting of lodging taxes. Or do as some do, and attempt to fly under the radar. Be aware that many municipalities are taking advantage of services that scrape the listings on AirBnB and elsewhere and compare to the tax remittances and permits, where applicable. They use this data to drop the hammer on non-compliant operators.

So your first step would be to investigate your local municipality and see what regulations exist, or may be in process. A Google search of your city + "short-term rental" should get you started.

Short-term rentals are very lucrative, but they also come with their own challenges and barriers to entry. Best to go forward with a good understanding of the risks before making any decisions.
 
I have a friend who hosts on VRBO who just hosted two guests that robbed the place. VRBO refused to pay out to the host, and had the nerve to reverse the payout in the bank account, because the guests paid with a stolen credit card. Vrbo puts all background check work on the hosts, whereas airbnb does more of the legwork for you up front. I strongly advise against vrbo.
 

PrettyBoyAJ

Sparrow
So I actually looked at some highrises in midtown Atlanta. I was impressed with the view but the only turn off is that they told me I can’t Airbnb the place out if I rent.

Should I just look for another high rise property?

Also for furniture would it be better to buy or lease. Considering the place that I’ll be getting would be rented and not purchased by me.
 

BoneDaddy

Robin
Gold Member
PrettyBoyAJ said:
So I actually looked at some highrises in midtown Atlanta. I was impressed with the view but the only turn off is that they told me I can’t Airbnb the place out if I rent.

Should I just look for another high rise property?

Also for furniture would it be better to buy or lease. Considering the place that I’ll be getting would be rented and not purchased by me.
Any competent landlord would have language in their lease that forbids subleasing, most certainly the operator of a high-rise in a large urban metro. People do it and get away with it for a while, so be sure to recognize there is a possibility that your short-term rental activities could get shut down by your landlord and you'll still be on the hook for the remainder of the lease, as well as whatever you spend on furniture, decoration, electronics and other start-up expenses.

A better approach that some operators are having success with is to approach the owners of smaller garden-style apartments in areas desirable to tourists/travelers and negotiate a master lease which would allow you to lease up vacant units, furnish, decorate, and then rent them out as short-term rentals. You'd still have the concern of regulation by the local municipality.
 

PrettyBoyAJ

Sparrow
My main issue is finding an apartment complex that is going to allow me to sublease. Every apartment complex is basically telling me no. My fear is that I rent out a place and do everything you’ve mentioned Bone and then getting evicted. I need to figure out a way I can still do this however.

The garden idea is a pretty good idea. How would I go about finding the owner of these apartments? Also I was wanting to focus on high end high rises for this.
 

Cattle Rustler

Crow
Gold Member
PrettyBoyAJ said:
My main issue is finding an apartment complex that is going to allow me to sublease. Every apartment complex is basically telling me no. My fear is that I rent out a place and do everything you’ve mentioned Bone and then getting evicted. I need to figure out a way I can still do this however.

The garden idea is a pretty good idea. How would I go about finding the owner of these apartments? Also I was wanting to focus on high end high rises for this.
No competent high rise apartment corporation or landlord is going to allow their unit to be subleased (posted on AirBNB, VRBO, etc). It's simply too much liability for them, especially if the guest does something and the other tenants sue the landlord. It creates a whole pandora's box of problems, the landlord won't know if there's a sex offender on the property because background check are only done on the people on the contract.....and AirBNBing a place will bring in more foot traffic which means you don't have a solid grasp of what's going in the building.

I removed my listing before the superbowl last year because my complex sent an complex-wide email saying anyone caught listing on AirBNB would be evicted immediately and remain on the hook for the contract (and breaking it). They had already the scraping service but wanted to give us a chance to stop doing it. The management could have kicked me out there and then but they were on cool terms with me.

An ex of mine tried doing the same with her home, and her landlord went crazy when he asked her. Too much liability for him, and he owns four-plex units.

The only way you can do this is to own the property. If it's a high rise make sure the HOA (or whatever you call it in a high rise) allows AirBNBing, many places don't even if you're the owner.
 

PrettyBoyAJ

Sparrow
Cattle Rustler said:
PrettyBoyAJ said:
My main issue is finding an apartment complex that is going to allow me to sublease. Every apartment complex is basically telling me no. My fear is that I rent out a place and do everything you’ve mentioned Bone and then getting evicted. I need to figure out a way I can still do this however.

The garden idea is a pretty good idea. How would I go about finding the owner of these apartments? Also I was wanting to focus on high end high rises for this.
No competent high rise apartment corporation or landlord is going to allow their unit to be subleased (posted on AirBNB, VRBO, etc). It's simply too much liability for them, especially if the guest does something and the other tenants sue the landlord. It creates a whole pandora's box of problems, the landlord won't know if there's a sex offender on the property because background check are only done on the people on the contract.....and AirBNBing a place will bring in more foot traffic which means you don't have a solid grasp of what's going in the building.

I removed my listing before the superbowl last year because my complex sent an complex-wide email saying anyone caught listing on AirBNB would be evicted immediately and remain on the hook for the contract (and breaking it). They had already the scraping service but wanted to give us a chance to stop doing it. The management could have kicked me out there and then but they were on cool terms with me.

An ex of mine tried doing the same with her home, and her landlord went crazy when he asked her. Too much liability for him, and he owns four-plex units.

The only way you can do this is to own the property. If it's a high rise make sure the HOA (or whatever you call it in a high rise) allows AirBNBing, many places don't even if you're the owner.
Thanks for your response. That sucks very much. So I'm guessing two years it was different and more people were able to rent out apartments and airbnb them out? Because I thought the whole idea behind this thread was leasing to rent the places out. Whats the new strategy here when it comes to not buying? I'm not looking to buy anything.

So Cattle I assume your not Airbnb anymore.
 

Cattle Rustler

Crow
Gold Member
PrettyBoyAJ said:
Cattle Rustler said:
PrettyBoyAJ said:
My main issue is finding an apartment complex that is going to allow me to sublease. Every apartment complex is basically telling me no. My fear is that I rent out a place and do everything you’ve mentioned Bone and then getting evicted. I need to figure out a way I can still do this however.

The garden idea is a pretty good idea. How would I go about finding the owner of these apartments? Also I was wanting to focus on high end high rises for this.
No competent high rise apartment corporation or landlord is going to allow their unit to be subleased (posted on AirBNB, VRBO, etc). It's simply too much liability for them, especially if the guest does something and the other tenants sue the landlord. It creates a whole pandora's box of problems, the landlord won't know if there's a sex offender on the property because background check are only done on the people on the contract.....and AirBNBing a place will bring in more foot traffic which means you don't have a solid grasp of what's going in the building.

I removed my listing before the superbowl last year because my complex sent an complex-wide email saying anyone caught listing on AirBNB would be evicted immediately and remain on the hook for the contract (and breaking it). They had already the scraping service but wanted to give us a chance to stop doing it. The management could have kicked me out there and then but they were on cool terms with me.

An ex of mine tried doing the same with her home, and her landlord went crazy when he asked her. Too much liability for him, and he owns four-plex units.

The only way you can do this is to own the property. If it's a high rise make sure the HOA (or whatever you call it in a high rise) allows AirBNBing, many places don't even if you're the owner.
Thanks for your response. That sucks very much. So I'm guessing two years it was different and more people were able to rent out apartments and airbnb them out? Because I thought the whole idea behind this thread was leasing to rent the places out. Whats the new strategy here when it comes to not buying? I'm not looking to buy anything.

So Cattle I assume your not Airbnb anymore.
Yeah, two to whatever years ago landlords did not know about AirBNB nor did most people, so it flew under the radar. As AirBNB grew, so did "Horror" stories thank to the media and it appeared under Greystars/Camdens/etc (landlords) radar. Now city councils want a piece of the action too, making it more complicated for landlords. Add in insurance for the building, which is for a living community, not a hotel.

I spoke to my ex's landlord and he thought about doing it himself since he owns multiple homes/units but it's too much of a headache with new regulations and possible liabilities.

You're right, I'm not on it anymore. It was a good run while it lasted since I could rent it out on weekends, stay at me then Gf's home, and rent was paid.

You could try to find a contract that doesn't prohibit subleasing but good luck with that.
 

BoneDaddy

Robin
Gold Member
CR speaks the truth. Renting a place and subleasing out on AirBnB or other platforms is a high-risk game these days. I wouldn't recommend even attempting to do this in any kind of multi-family unit. Even if you own the condo, the HOA will mostly likely forbid it, and then there's the local municipality.

Another issue is that the competition on the short-term rental platforms has gotten fierce in popular areas. If you post up a listing with zero reviews, how are you going to compete with all the other listings with dozens of five-star reviews, professional staging, photography and decor? That's the reality of the market right now.

I think the best entry point right now is for the aspiring short-term rental host to first get self-educated. Then reach out to existing and successful hosts and offer yourself as a service. A co-host, if you will. AirBnB even has co-hosting built into their platform. Offer to assist existing hosts with cleaning and turnover. An energetic entrepreneur in a large metro could do very well putting together a cleaning and turnover service to assist successful hosts with their biggest headache - cleaning and make-ready between guests. Then expand your portfolio of service to include photography and staging. And then handyman and repair services. And on and on.

Once you learn the game, you could approach existing hosts and offer to master-lease their property for a fixed monthly lease, and you make money on the spread.

There are so many opportunities in the short-term rental space for a hustler to make bank that are far better than attempting to lease and re-rent on AirBnB.
 

PrettyBoyAJ

Sparrow
The knowledge you guys have given me have been very informative and I appreciate all the information. It means a lot because both of you guys have first hand experience with Airbnb. The reason it appealed to me was because I need to get a new place anyway and figured if I could make money Airbnb it out I could just do it for passive income. Your cleaning and turnover service is actually a great idea. Never thought about anything like that. I'm going to put my head down and do more research and figure out what/how I can do what I want to do.
 

BoneDaddy

Robin
Gold Member
PrettyBoyAJ said:
The knowledge you guys have given me have been very informative and I appreciate all the information. It means a lot because both of you guys have first hand experience with Airbnb. The reason it appealed to me was because I need to get a new place anyway and figured if I could make money Airbnb it out I could just do it for passive income. Your cleaning and turnover service is actually a great idea. Never thought about anything like that. I'm going to put my head down and do more research and figure out what/how I can do what I want to do.
PBAJ,

Glad to help a young hustler any way I can.

I would also suggest looking for a Short-Term Rental Association in your city. Even if one does or doesn't exist, there are Facebook groups for Short-Term Rental hosts in most major metros.

There are a few short-term rental FB groups that are nationwide. All the good ones that I know about are private/secret groups and most require that you provide a link to your short-term rental listing before being admitted to the group. However, if you could show that you are running a venture that services short-term rentals, you'd probably get admitted.

Also get on the NextDoor.com neighborhood groups in your area and announce your services that support short-term rentals. Do the same on ThumbTack.com. Maybe even Craigslist if you can tolerate that cesspool.

If you have time, energy and the willingness to FIO (Figure It Out) you'll do well!

Bone
 
I did this for a while. Made some very good money off of it since it was illegal and thus not so many other people doing it which equated a high profit. There was one summer month where I made 3 300 usd. Hired a cleaner, learned a lot from this torrent "Lynda - making money with airbnb". It's on the pirate bay.
 

PrettyBoyAJ

Sparrow
One of my friends is doing it in Atlanta and is making some profit. His apartment complex doesn’t allow him to do it but there’s ways around it. So I think this is still viable as long as your tenants don’t snitch.
 

Robert High Hawk

Kingfisher
BoneDaddy said:
SNIP

Another issue is that the competition on the short-term rental platforms has gotten fierce in popular areas. If you post up a listing with zero reviews, how are you going to compete with all the other listings with dozens of five-star reviews, professional staging, photography and decor? That's the reality of the market right now.

SNIP
So true. If you want to make money with AirBnB you need to be DIFFERENT. You have to have some kind of property that is unique and distinguishable.

Think way outside the box here. There will be DOZENS of condo's apartments 1&2 bedrooms available with EZ check in and fast wifi.

How about an RV that you lease with a awsome (and safe/quiet/secluded) parking spot/hookup that you also lease? That's just something that literally is off the top of my head. Maybe retarded and undoable, maybe a huge potential there. Convert an old schoolbus maybe? (actually I'm going to look into the economics of this immediately following this post)

In my area, unless you have a ridiculously high end place with awesome location, you won't be standing out. OR you are original. Some dude with a literal shack/tree house cleans up and charges good money because it has a nice view and it's fun and quirky to stay there. Nobody else in the area provides that kind of experience, so it stands out.

One easy way to stand out is being able to accommodate lots of people.

The minute a large group (think bachelor party) gets together for a trip, they start looking at large AirBnBs were they can ALL stay. And they will pay a premium for this kind of space. Bridesmaids groups. Family groups for weddings, etc... Not many places can accommodate more than 4.

Anyway, that's how it goes these days. Very tough market, lots of rules, stay ahead of the game and be original as heck to get your place to stand out to people searching for it.
 
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