Why You Should Entertain a Short Term Rental on Airbnb
Over the past few months when meeting with new vacation home owners, I’m often asked what will bring them the most return on their investment: renting their house to a long term tenant or renting their as a vacation rental. In my personal opinion, I see Airbnb dominating the vacation rental industry the same way that Uber has dominated the taxi industry. Airbnb creates a platform for your listing that no other vacation management company has. Within this platform Skye Management enhances it and makes sure you become a Super Host which leads to more reservations. In this article I would like to address the pros of short term rentals through Airbnb. Here are some benefits of being an Airbnb Host.
Personal Use of Your Airbnb
You and your family members will still be able to enjoy your vacation home when listing it through Airbnb. Blocking off specific dates on your calendar allows you, your family and friends to enjoy your vacation home whenever you'd like. Most Host management companies and vacation rental companies do not offer this option. Skye Management understands that sometimes you as a host want to enjoy a vacation of your own. We encourage our hosts to enjoy their properties as much as guests do!
Less Wear on Home
Since an Airbnb home is not occupied 365 days a year, there is less wear and tear on the property. Consistent and thorough cleanings keep your home in great shape throughout the year.
A short-term rental with Airbnb has great potential to provide a higher rental income than committing with a long term tenant. Although income may not be as consistent, the short term ROI should be significantly higher than the long term. Owners have the opportunity to charge higher rates during peak times during more frequent travel times. Peak rates occur mostly during holidays, spring, and summer time. Tax breaks are given to short-term rentals due to property related costs such as advertising and operating expenditures. Check out IRS website for more benefits.