Launched in 2009, Airbnb flipped the world of renting, hotels, and travel upside-down. The concept was almost criminally simple. People who are traveling need places to stay, but either don’t want to pay for a hotel, or they can’t find an open room. Meanwhile, residents in popular travel spots often have an extra room or guest house that’s largely unused.
Airbnb was the perfect way to connect these two parties, providing home owners with a new way to make some extra money.
If you have an extra home (or even a spare room), you may have considered putting your place on Airbnb. It can certainly be lucrative. Especially if you live in a well-travelled to location like San Diego. But that doesn’t mean it will be easy.
It Takes Work
There’s a difference between renting out a home and using one for Airbnb. With Airbnb, you’re not in the real estate or landlord business. You’re in the hospitality industry. Just like when someone stays at a hotel, your guests will expect certain amenities and care. They’ll want to feel comfortable and looked after.
That doesn’t mean you have to swing by every day and perform room service or housekeeping duties. But you will need to have the place supplied and furnished. Wi-fi is a must. And should an emergency arise, someone needs to be on call.
Long Term or Short Term?
Just like many hotels, you can take on guests for short term or long term stays. Which is better for you? You’ll have to decide. Long term residents tend to pay lower rates, and they can be a little harder to find, but it requires less ongoing work, and it gives you consistent tenants for a while.
Short term travelers will pay more money, and there’s always some to be found, but they’ll also take for footwork and upkeep.
You can always mix and match, but many Airbnb hosts prefer to specialize in one or the other.
Figuring Out the Right Price Point
If you’re trying to decide between using your home for Airbnb or just renting it outright, it mostly comes down to money. Specifically, which option will earn you more of it.
It probably doesn’t make sense to go through the effort of managing an Airbnb location if it’s going to be earning you less money.
Unless, of course, you want to have a guest house or getaway location that you can occasionally make some money off of. In that case, Airbnb can give you a lot of flexibility.
The Duplex Option
For duplex owners in San Diego, Airbnb can be a great way to fill the other half of your home. Since many Airbnb users are in town for a work trip or to see the sights, they won’t be in the house much. This can be a nice alternative to having neighbors who are also your tenants.
Also, you’re able to provide better hospitality service because you’re just a few steps away from your guests.
If you’re looking for a duplex for sale in San Diego, whether you’re using it for Airbnb, house rentals, or something else entirely, we can help. Contact us today!