3 Problems With Owning An AirBnB That No One Talks About!

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[jenniferd]

I own an Airbnb and haven’t yet had them trash the place. I would highly recommend pricing it high to eliminate college parties.

[wrdennig]

I'm a handyman (45 years in the field) in Santa Cruz CA . . . Many of my clients have Air BnBs . . . the successful ones use a real estate firm that specializes in managing Air BnBs . . . the bottom line is that they still make a boatload of money and the professional manager deals with all the problems. For those clients of mine that use such services, it is hands free and they just watch the deposits accrue in their bank accounts. I've had a few clients that did it on their own . . . lasted about one season and they were ready for the nut house . . .

[scottswann]

Dave is right about one thing. Short-term rentals are a lot of work. I have been doing it since 2017 and currently own four properties. I've decided that I'll have to retire from teaching if I buy another one. It takes a lot more time than you would think.

As for renters destroying your place, my experience is nothing like what Dave describes. The only damage that a guest has done in one of my places for the past five years is when a dog chewed a hole in a rug. The guest told me about it and even offered to pay to replace it. I haven't had one other instance of damage. Not even a broken plate.

I have developed a system for managing my property. My rentals are in vacation destinations and are anywhere from 2-4.5 hours from my home. I have family that helps maintain and clean some homes and it hasn't been a problem. It actually works better for me than when I hire professional management companies.

Short-term rentals in the right location will make tons of money. I choose locations that will pay for themselves in four or five years. I also don't borrow more than I can afford to pay back if the house doesn't rent.

[tahirisaid]

These are very valuable info for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $109k now to put in the market.

[lauraboughton]

I own both a long term rental with year leases and short term rental I list on Airbnb. I enjoy both. The long term rental is more passive income, but the Airbnb has been a great experience. Our guests have been respectful of our property, it gives my family a free place to vacation a couple times a year and I have loved hosting people and getting to know our guests. It hasn’t taken up too much of my time. Currently looking for another property to purchase and I am open to either another long term or short term set up.

[ronbaxley]

Owning an Airbnb has been one of the best investments I have ever made. I think it all depends on the individual properties themselves.

[danjacobsen]

I’ve owned several rental properties over the years and this is what I tell people who say they want to start investing in real estate. Writing down on paper how things should work out always looks great but then once you actually are doing it you have to add in dealing with humans and that’s when your plan can go bad quickly. It’s amazing how some humans can have total disregard for your property. I’ve done very well overall with real estate but it’s not always a bowl of cherries.

[InternetUser._]

If your cash flow numbers only work under a best case scenario, your numbers don’t work.

[janewerner]

I have owned long term and short term rentals for years. I found the short term rentals were a lot easier to manage. On occasions, I had the short term renters leave me gifts! I find people on vacation are in a good mood and 99% of the time left my properties in great shape.

[JuanGomez-jdes]

I own a cleaning company and several Aibnbs. It's the best thing I've ever done to be honest.

[alisonwalker]

Well said. I am in my mid 30s, and I am yet to begin my retirement plan. I have read through many comments and articles on retirement, but I still do not know where best to begin and how to go about it. I asked a friend of mine but couldn't give me the explanation I was expecting. So please I will like to have a good idea on where and how to begin. If possible a good recommendation.

[logger]

Systems can be built to take the hassle out of it. But I love Dave and he’s right about having the AirBnB in your backyard is probably a good idea.

[barbie]

I like this co-host. She complements the advice Dave gives and doesn't compete. She also seems to have quite a bit of experience and knowledge and communicates well.

[TheRozylass]

I really hate that others treat hotel rooms, or AirBNB's so badly. I leave any place I stay better than I found it. I want the owner to want me back!

[nicolepea]

Fortunately, I don't have any of these issues, and I actually have enjoyed being a host these past 2yrs. I live in Atlanta Ga and my Airbnb stay booked every week. It has not been a hassle, I manage with a full time job, and I clean it every Tuesday which I purposely block off Tuesdays just for cleaning. I have had a couple, like literally a couple of issues, and the guests paid out with no problems. I am a super host and I do own my home. I do look at it as a one day a week PT job but I enjoy it. I never have to promote because Airbnb and my super host status do that for me. I am greatful and thankful. This is the best investment I have ever done. The only big issue I have is with the long term guests, so I cut long term stays down, and have no problems with weekly guests. Thank God!

[angieharris]

Every single industry has the hassle factor. smh

[KHPCLUB]

I can tell right away Dave has never even used Airbnb

[Kay-hgvo]

When you rent an Airbnb ask the neighbors how they feel about living next door to one. Airbnb's have made our lives a living a hell!

[jonlieberman]

I had family members managing my vacation rental for me and it seriously damaged that relationship. I was taken advantage of and she saw me as an uncaring cousin and the poisoned to other family members. DON'T DO IT.

[mikeshaw]

Very good points. A lot of people don’t even realize the headaches and costs of rental property, much less the additional things this brings.