Anyone familiar with Airbnb?

[HoleInTheRoof]

I’m in the market for a new home, and one of the places I’m considering has a nice “inlaw suite” with a mini kitchen, bathroom, closet space and opens up to a patio.

My gf suggested I could make $ off of it by renting it out on Airbnb. I’m curious how that works - how you get paid, am I taxed on that income, how are you protected from bad tenants, etc.

Any feedback appreciated.

 

[VolAllen]

I’ve used it a couple of times. I like it alright, but prefer to stay in hotels. It’s great in a pinch, however.

 

[Ulysees E. McGill]

My dad and stepmom rent out their two top floor rooms. They stay booked all the time, but they are in a pretty busy area for business. The people that stay with them are usually long timers that are in town for several weeks of training, they usually get a set amount stipend for expenses, so they save a lot of money doing the airbnb thing. It will not make you rich, but it will help make the house payment. I dont know the details, but I'm sure they have people who will explain it. My folks are really happy with it, it has been good for them.

 

[HoleInTheRoof]

I dare you to ask your parents if it’s taxable income.

You’re not gonna back down from a dare, are you?

 

[DrRosenRosen]

Yes it's taxable

 

[ButchPlz]

I'm not familiar with it from the owner side, but as someone that stays in AirBnB on a lot of trips I prefer it to hotels if I'm going to be staying somewhere for a week or more.

Most have kitchens and everything, so some nights you can stay in and cook if you don't want to spend money. I've stayed in them in the US and overseas and never had an issue.

 

[doozer]

I'm not familiar with it from the owner side, but as someone that stays in AirBnB on a lot of trips I prefer it to hotels if I'm going to be staying somewhere for a week or more.

Most have kitchens and everything, so some nights you can stay in and cook if you don't want to spend money. I've stayed in them in the US and overseas and never had an issue.

Same here.

Much much prefer it to a hotel. In fact, when the Missus and I travel, it’s probably 6 to 1 AirBnB to hotel stays.

The coolest aspect to us is generally you stay in a neighborhood, so you feel like an actually resident of the city, whereas hotels are all usually clumped together near tourist destinations.

And if anybody is nervous, just stick to the Super Hosts and you have nothing to worry about.

 

[DancingOutlaw]

One thing you need to investigate is how friendly the local goverment is to your operation. There are a lot of people who are irrationally afraid of Airbnb bringing perverts and criminals into their neighborhoods. So if they notice different cars week to week or more traffic than usual they complain. We’ve had a pretty good rigamaroll here over zoning and whether those using the app should register as a business and be subject to regulation like a hotel. As usual business moves too fast for goverment to keep up, so these points of friction are inevitable.

 

[VolAllen]

One thing you need to investigate is how friendly the local goverment is to your operation. There are a lot of people who are irrationally afraid of Airbnb bringing perverts and criminals into their neighborhoods. So if they notice different cars week to week or more traffic than usual they complain. We’ve had a pretty good rigamaroll here over zoning and whether those using the app should register as a business and be subject to regulation like a hotel. As usual business moves too fast for goverment to keep up, so these points of friction are inevitable.

Same rules should apply to Uber and those types. They’re killing local cab companies. It’d almost be beneficial for the cab company to close and just be Uber drivers. No strict vehicle inspections, insurance, etc..

 

[golfballs]

.

 

[VolNExile]

One thing you need to investigate is how friendly the local goverment is to your operation. There are a lot of people who are irrationally afraid of Airbnb bringing perverts and criminals into their neighborhoods. So if they notice different cars week to week or more traffic than usual they complain. We’ve had a pretty good rigamaroll here over zoning and whether those using the app should register as a business and be subject to regulation like a hotel. As usual business moves too fast for goverment to keep up, so these points of friction are inevitable.

It’s hard to start a new AirBnB in Asheville because of the affordable housing shortages. They’ve really cracked down on them.

Personally, I don’t have a problem with them if they have offstreet parking. I do get pissed when there’s no parking left for homeowners and their guests b/c of AirBnB cars.