Why I’ll Never Rent On Airbnb

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Here are my thoughts on Airbnb / Airbnbust:

First of all, if you’re buying a property for an investment, number one - MAKE SURE IT CASHFLOWS without Airbnb.
This is where MOST people go wrong in terms of their purchase; if you rely on Airbnb for a property to cash flow, you’re doing it wrong and exposing yourself to a LOT of risks in the event that Airbnb prices continue falling.

Instead, you should view Airbnb as a way to supplement your income as “icing on the cake.” For instance, If you have a cash-flowing property - BUT you can make more rent on Airbnb, GO FOR IT. In the event something happens and you can no longer rent it on Airbnb, or - if prices fall below a point that makes sense to list, you’ve still got a cash-flowing property, anyway.

In addition to that, it’s important to realize that the reason many people make so much money on Airbnb is because it requires a LOT of work. I know people who run Airbnb’s and it’s a hustle to make sure the house is fully cleaned, sheets washed, and everything fully stocked after each guest. You also have to be diligent on your pricing, photos, and reviews - remember, it’s a 24/7 BUSINESS - and not as simple as listing it online, putting a lock box on the front door, and hiring a cleaning person.

With that said, if you use Airbnb responsibly, comply with local regulations, buy a cash-flowing property from the beginning, and use Airbnb for ADDITIONAL income - I’m all for it and you can make a LOT of extra money doing this.

But, just keep in mind: As with anything that’s profitable, OTHER people will drive down your margins - and, we still haven’t seen the bottom in terms of how far prices might continue falling. I personally believe that we’ll continue to see new listings on Airbnb if long-term landlords get desperate enough and can’t get the price they initially expected.
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That’s why, I think we’re absolutely in the middle of an “Airbnbust” while the market thins out the inefficient operators. in a way, this COULD be a good opportunity to stand out from the crowd…especially if you have a compelling written description about the property, which - our sponsor, Grammarly, can assist you with…but, I don’t believe you should solely rely on Airbnb for income…JUST IN CASE something were to happen.

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