Share your Airbnb!

[James!]

Running List of MMM AirBNBs!

Hosting is a great way to up your income on the road to (or in support of) FI!

Here's mine. A funky little house we built ourselves in Portland, OR.

https://www.airbnb.com/rooms/4963976

miss snow's seattle abode: www.airbnb.com/rooms/2818760

expatartist's rustic little getaway in southern Sicily:  https://www.airbnb.com/rooms/349205

Gockie's place in Sydney Australia!: https://www.airbnb.com.au/rooms/4532525
(MMM readers get 10% off stays (5 nights or more). Please PM Gockie for the discount!)

[MountainFlower]

That's awesome.  I'm so renting that if/when we come to Portland. 

[zoltani]

Cleaver way to gloat about your amazing house ;)

We have thought about doing airBnB, but don't think our market is desirable. I see whole houses here for less than 4100, so our room wouldn't get much.

[boyerbt]

Place looks great - what is the friends and MMM discount?

Have to at least try right?

[James!]

Cleaver way to gloat about your amazing house ;)

We have thought about doing airBnB, but don't think our market is desirable. I see whole houses here for less than 4100, so our room wouldn't get much.

A little from column A, a little from column B! I'd love to see some other places to have options when I travel. I see a lot of them interspersed in other discussions so I was shooting for a more organized gathering but who knows if that'll happen.

There's no cost just for listing, other than time! However if it's a shared space there are quite a few additional considerations. This is a dedicated space that is open for half the year so it's my best option.

[DSKla]

That's a gorgeous home, James. Can I ask how much it cost to build? I'd love to take on a project like that at aome point.

[jmusic]

One thing to be careful with  regarding AirBNB, Homeaway, et. al.  is that your city may ask for "Transient Occupancy Tax" or something similar.  Basically, it's exactly like you're operating a hotel.

My wife is an auditor for a small tourist-destination city and she has hit some long-time building operators with $$,$$$ (five, sometimes even six figure) tax bills because they were not collecting and remitting this tax. 

[jmusic]

After a quick search, Portland does require such a tax.

http://www.portlandoregon.gov/revenue/29976

James, I highly recommend you research this issue and get in compliance with the program! 

[CanuckExpat]

Hi James,

I'm curious, did you build this house specifically to list on AirBnB?
My wife and I used to list our second/spare bedroom on AirBnB and had really good experiences (and the extra money was nice, but honestly after taxes it's not as great as you may think.. ordinary income at marginal tax rate, limited tax upside compared to a complete rental)

We have a free standing garage that we've thought about fixing up to use as a guest room and also for AirBnB. Did you do this work yourself? I'd at one point told myself it would be a good DIY project, but it might be enough beyond my skills that it would be better to get a good contractor. What did you do?

[James!]

Hey All,

Portland is awesome in every way, and they are working with Airbnb. So have no fear, this is a legit enterprise. Airbnb charges, collects and distributes the city, county and state taxes for me!

As for questions about the house specifically, I may just start a little thread separately to talk about the build and details.

Does no one else have places up on Airbnb?

Cheers,
James

[jmusic]

What is the agreement between Airbnb and the City of Portland?
 
Beginning July 1, 2014, Airbnb began collecting the 11.5% combined City of Portland and Multnomah County Transient Lodging Tax on reservations made through the Airbnb platform. Airbnb is remitting the Transient Lodging Tax to the City on behalf of operators (hosts) on a monthly basis.

Sure enough, you're correct.  Still, for AirBNB hosts in other cities, this may not be the case, so be sure to check with your city.

[aspiringnomad]

I have several friends here who list on Airbnb and I use it almost exclusively when travelling domestically. We don't list though because we only have an extra den and that's reserved for the cats' food and litter. Pre-cats (and pre-airbnb), I used to sublet my room on craigslist every time I went away, even if just for a few days.

[miss snow]

Here's our Seattle abode. Come visit!

www.airbnb.com/rooms/2818760

Sent from my KFTT using Tapatalk

[expatartist]

What lovely spaces, you guys! Especially the hand-built cottage. Discoveries like those are why I love AirBnB.

Here's our rustic little getaway in southern Sicily. The town really comes alive in summertime, we just spent a week there during Chinese New Year, tidying up, installing a bathroom sink (finally!) and adding a shelf here and there. Photos will be updated when the Air BnB photographer visits in the spring: https://www.airbnb.com/rooms/349205?preview

[Gockie]

My one in Sydney Australia!!
https://www.airbnb.com.au/rooms/4532525
I love it as it's well located, and it's not too big nor not too small. Just right!

MMM readers get 10% off stays (5 nights or more). Please PM me for the discount!

[NinetyFour]

Following--I would love to stay in these one of these days!

[cashstasherat23]

Hoping to get mine up and running in the next few weeks! I am nervous about having someone stay in my apartment, but would love to give it a try,as I have had great experiences using AirBNB myself!

That charming little studio is Sicily is amazing-have added it to my wish list for a trip to Italy!

[James!]

I'm excited to see all these great places! I'll edit the first post to be a summary.

-J

[eoc]

Let's say you're going away for a few weeks, freeing up your residence to host people through AirBNB.

Do you take multiple bookings during that time? If so, do you arrange with a neighbor, for example, to clean between guests staying?

[octavius]

James, looks very nice, and awesome that you built it yourself. 

One question about your AirBnB ad... I don't see any pics of the bathroom? 

I love AirBnB -- and am staying in 3 different places over this week and last in La Jolla right now.  Did one in Portland over xmas, and have considered doing one at my place in Seattle (still have to research the technicalities of these in my neighborhood).

You should start a thread (if you haven't already) with details about your build. I'd be interested.

[James!]

James, looks very nice, and awesome that you built it yourself. 

One question about your AirBnB ad... I don't see any pics of the bathroom? 

I love AirBnB -- and am staying in 3 different places over this week and last in La Jolla right now.  Did one in Portland over xmas, and have considered doing one at my place in Seattle (still have to research the technicalities of these in my neighborhood).

You should start a thread (if you haven't already) with details about your build. I'd be interested.

Thanks! I will start a thread one of these days.

There is in fact a bathroom, but it's definitely proportionately small, and I don't have a great picture so I didn't include it in the ad.

Cheers,
James

[Tami1982]

Hi James,

I'm curious, did you build this house specifically to list on AirBnB?
My wife and I used to list our second/spare bedroom on AirBnB and had really good experiences (and the extra money was nice, but honestly after taxes it's not as great as you may think.. ordinary income at marginal tax rate, limited tax upside compared to a complete rental)

We have a free standing garage that we've thought about fixing up to use as a guest room and also for AirBnB. Did you do this work yourself? I'd at one point told myself it would be a good DIY project, but it might be enough beyond my skills that it would be better to get a good contractor. What did you do?

I'd be interested in learning more as well.  I've considered building/purchasing a tiny house to rent out, but do have a free standing garage/outbuilding already in existence.  I wonder if it would be less expensive to simply convert that.  PONDER!

[James!]

Hi James,

I'm curious, did you build this house specifically to list on AirBnB?
My wife and I used to list our second/spare bedroom on AirBnB and had really good experiences (and the extra money was nice, but honestly after taxes it's not as great as you may think.. ordinary income at marginal tax rate, limited tax upside compared to a complete rental)

We have a free standing garage that we've thought about fixing up to use as a guest room and also for AirBnB. Did you do this work yourself? I'd at one point told myself it would be a good DIY project, but it might be enough beyond my skills that it would be better to get a good contractor. What did you do?

I'd be interested in learning more as well.  I've considered building/purchasing a tiny house to rent out, but do have a free standing garage/outbuilding already in existence.  I wonder if it would be less expensive to simply convert that.  PONDER!

Hi Tami,

It really depends on the details of your garage. For most people they are no where near conforming to building codes, and the cost of conformance is more expensive than demo and building from scratch. This is assuming you are building with permits, to code. That was certainly the case for us.

[Ditchmonkey]

As for questions about the house specifically, I may just start a little thread separately to talk about the build and details.

I'd be interested in hearing your AirBNB story in detail - what you invested and what your return has been, along with any other cautions or tales you may have. I've got a great property for a potential AirBNB setup but need to invest in some upgrades first.

[James!]

As for questions about the house specifically, I may just start a little thread separately to talk about the build and details.

I'd be interested in hearing your AirBNB story in detail - what you invested and what your return has been, along with any other cautions or tales you may have. I've got a great property for a potential AirBNB setup but need to invest in some upgrades first.

hey Ditchmonkey,

I'm afraid I can't offer much of a view on Airbnb hosting just yet. I didn't build this house with that as the goal, and I haven't rented it out yet. I have the listing live, but the space isn't available until this summer. So I have a few reservations but haven't actually hosted. There are plenty of very detailed reviews and pro/cons if you do some googling. For some it's a great option, for others it doesn't pencil out. It's very dependent on your property, your interests, and your priorities!

Cheers,
James

[Ditchmonkey]

 There are plenty of very detailed reviews and pro/cons if you do some googling.

I've done extensive research but being able to have a discussion with experienced people is the most valuable way to gather important info. I hope it works out great for you and I look forward to updates!

[MsFrugalista]

James! - Very nice cottage. We were in Portland over Thanksgiving last year and stayed at an Airbnb, but did not come across yours in my search. We rented our second bedroom last year on Airbnb as well and I enjoyed it very much. Unfortunately we welcomed our baby at the end of the year and had to bring down the listing and thus cannot share with you guys :(.

miss snow - very cute studio (love the mini kitchen). We plan on being in Seattle later this year, I will definitely see if it's feasible to stay at your place!

[totoro]

We have 3 Airbnb's currently:

https://www.airbnb.ca/rooms/1218083

https://www.airbnb.ca/rooms/4480902

https://www.airbnb.ca/rooms/2342154

We just started in January but we've had a lot of bookings up until the start of September already. We started it as I was annoyed by one renter being extremely untidy. Part of this was (I think) because the suite was so small and so better suited for short-term stays.   Our net rate of return is about 35% higher than with a monthly rental for 2342154; 28% for 4480902; and 50% for 2342154.

What I like:
we furnish the suites and are in and out regularly to see that they are maintained to a high standard - I get some weird satisfaction from this - kind of like being in a nicely maintained garden
Airbnb people are a pretty nice crowd
the system for tracking reservations and payments is great
our relatives and friends, with a bit of planning, always have a very nice place to stay just next door when they visit
we have a place to host a dinner or a guest that is separate from our main living area so we don't have to worry about tidying up for guests
we can host large family gatherings despite having a small main residence (1400 square feet)
our family can host two different sets of friends (kids and adults) on the same night on our property - our home is small and having another suite gives us a lot of flexibility for our teens if they want to watch a game or movie with friends
we have our entire property to ourselves 1/4 of the time
our teens get paid to clean and do small jobs

What I dislike:
Takes more time than a regular rental.  I don't actually dislike this as I don't mind putting the time in at this point, but I think it could become annoying if you are already working a lot.
I had to pay more tax than expected due to the increase in income.  Sounds whiny but  the extra value from Airbnb is reduced by 50% for us as a result.   Next year I will plan to have a lower base income to compensate for this.
I've spent more time cleaning for two of the places.  Again, I don't actually dislike this as I don't mind putting the time in, but I think it could become annoying if you are already working a lot.  We do have reliable cleaners for the third place - I just haven't put the time in to finding a backup for our other two.

I think that Airbnb could also be an easy way to have additional income in retirement if you have a guest suite.  More flexible and profitable than a full-time rental and if you are social it allows you to meet interesting people.

[Cookie78]

I love using Airbnb, but haven't hosted yet.

Be careful to screen who you are renting to!
http://www.cbc.ca/news/canada/calgary/airbnb-nightmare-renters-leave-calgary-home-trashed-1.3053555

[totoro]

Yes, although you can manage these risks for the most part. 

None of our properties are SFHs. I like having someone else on the property to monitor things.  We have had zero problems or damage so far.  I am careful who I rent to and regularly turn down people without reviews or with too many in their party.  I will accept some people without reviews based on our conversations.

Bottom line is that if you are not prepared to actively manage and monitor you should not be a landlord or Airbnb host.  It is not for everyone.

I think this site has an accurate summary of what it is like to host - and she did have one bad experience: http://affordanything.com/2014/05/27/the-airbnb-experiment-how-much-did-i-make/