Yea definitely have to hire more people, I was just showing a basic idea of what the revenue could somewhat be like but It’s definitely way more complicated
I love what u do i always wanted to live out there but on disability with my other hauf so i guess we could never the weather is great iam in boston hate winters to bad if u ever no anything let me no i love the topics
@@ShelbyChurch Shelby this is Paul Bunyard from grass valley, California . A 3 bedroom 2 bath house rents for $900 to $1200 please come to grass valley gold country no smog no fog little snow fresh air best place to live here .okay luv you bye my email is pbunyard2015@gmail.com
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this is literally a problem everywhere i guess, in germany we learn about it in school and in some cases you aren‘t even allowed to make your flat (that you own) into an AirBnB anymore
I'm on my 5th vacation rental now and I can tell you it's just as easy to lose money as it is to make money. Financially, there are two major problems, 1) You will never be occupied 100% of the days. People tend to rent for the weekends only Friday and Saturday. Furthermore, some areas like South Florida and ski towns are very seasonal. 2) Damage and maintenance quickly add up. Then you have listing fees and credit card fees. That is assuming you do the cleaning and maintenance yourself. If you sub those out, things get pricy and the margins shrink even more.
This is a problem that reaches as far as Cape Town, South Africa. Which is rather annoying because Airbnb's steal a lot of the good living space and push up the price of reasonable spaces in the city. :(
Everytime an ad pops up, I remember Shelby explaining how putting ads in the middle make you more money. So no worries, we still continue to watch your great and insightful video
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@@chaneyonwallstreet9321 Seeing as how the comment is about bypassing the leasing office this is a scenario where the apartment doesn't allow it. The lease holder is still subject to the rules/bylaws of the property manager and/or HOA. You cannot just sublet your apartment because it's in your name.
This is ruining the small tourist town I’m from! My parents lease a house and wanted to downsize when all the kids moved out. This is now near impossible because it is so hard to find a rental because every rental property has turned into an Airbnb. This has also stopped families from moving to the town and therefore the town only has one high school, elementary, and middle school because there is not enough enrollment to have multiple schools. Locals are leaving because there is no longer the “I know all my neighbors” feel. It’s really heartbreaking going back home because everyone is being forced out. Most jobs are worked by commuters... who come from neighboring towns that are less desirable for Airbnbs. The town is Sedona, AZ if you what to look more into it!
I did it when I lived in Brookyln, but I was renting out a spare bedroom (rather than the whole unit) and was always living in the unit. For me, it reduced my out of pocket rent on my 2bd/2ba by about $1600/mo, where renting the room to a permanent roommate would only net about $950/mo. For me, it really reduced the financial stress of living in a very expensive city, but the full unit, tenant managed rentals definitely are a major problem.
Yeah I feel like that was the original idea, to have this way for people to rent out their spare bedrooms or if they were going to be out of town you rent out your house/apartment for the week you are gone and its this nice extra money you didn't really need to do anything for AND you have someone watching your house basically. But now all of it seems like it got exploited and it kind of is sketchy for everyone involved. People who have to live near one it sucks, people who rent it can get int trouble and then have this extra property that just sucks money, and even if you are someone who rents one, I would be worried that the person Im renting from isnt suppose to be renting it out and then you get kicked out and end up with no where to go.
I would feel unsafe having a new roommate too often. Also they may have access to my person stuff ( to steal) or my personal information ( to also steal).
I found out someone in my small 6 tenant building started renting their studio on airbnb and there has been some weird experiences. But in reality I'm not sure if I'm more mad about an airbnb being in the building or if I'm more mad that I found through their airbnb listing that their unit has a dishwasher and my unit doesn't hahaha
It's nice that you aren't totally bent out of shape over an airbnb in your building. I have 6 airbnbs in houses that I used to rent by the month. My neighbours are happier with it because they are houses and in a less than perfect area. My airbnb guests are generally much more civilized than my long term tenants were.
Yeah this is a rapidly dying business model as most communities now have strict B&B rental ordinances and sub-letting is restricted by most landlords and definitely rental companies. And with the random quality of renters you would get - no thanks. But anyway, happy birthday, Shelby!
I am a real estate investor and ran an Airbnb for a while. 🙋♂️ Something not taken into account in this video is the cleaning fees. Either the time it takes or the cost for maids. Cleaning all the sheets takes a LONG time and the net profit is far less than it seems to be before calculating in that cost.
the guy said he talked to the owner prior to signing a lease and it took 6 tries before he found someone who would be willing. I'm sure that lease is drastically different or at minimum removed that clause for him
No, it's short term subletting AKA rental arbitration when you sublet it on a daily/weekly basis mainly to tourists. Not exactly the same definition and very vague too. It needs its separate clause in a tenant-agreement to enforce it. Don't know if a court would uphold it either tbh.
I had someone in my parent's neighborhood try to have this, and in their county, it is actually similar to LA illegal to do unless it's under a certain amount of days out of the year and is a primary residence etc etc. I'm right outside DC in Maryland, and we actually see this a lot, in DC I don't think they have many/any restrictions, but here its a big problem. Where I live it's not necessarily an issue due to available housing, it's more so that they are concerned with sex trafficking and underage illegal stuff. Like the place down the street from my parent's house was renting out the basement to be a party house for the night almost every weekend. I work in a high school and from the kids, I have heard that actually, that is how they now have big parties now. They get someone, a parent or an older sibling, to rent out an AirBnb to be a party house for the night and so they can basically go somewhere and do whatever they want and not have to worry about pissing off their parents etc or getting in trouble. But it sucks for the neighboorhood they go to because if it was THEIR neighboorhood there is a bit more of control because if you live somewhere you don't want to piss off your neighbors too much because you don't want them calling the cops or having to deal with them continuously because you have to also live there too so you would try to maybe control your friends more, but a lot of the parties that would happen in my parents neighboorhood, they would be super loud and leave trash everywhere outside and also just take up ALL the parking everywhere. and it was happening EVERY weekend, so eventually, the guy who lived across from the house called the county and they basically shut it down. So now this guy has an extra house he has to pay for (he bought it) and the way he was going to pay for it and was planning to MAKE money from it, is just dead, so he has to sell it or legitimately rent it long term. All of it just seems super sketchy, I like the original idea of its basically like "Oh Im going to be gone a week, I can make money and have someone stay at my house while Im gone" and also if you rent it is this nice idea of not having to stay in a hotel, its probably a bit cheaper, and also you have access to like a kitchen and some other things you might not in a hotel. But it seems like it all kind of got exploited and now it seems sketchy for EVERYONE involved. Like if you live near one it sucks, if you are the person renting it and its not all legit and potentially even if it IS you can get kicked out an lose all of your investment and be stuck with either a lease or property that is just a money suck, and even for the people renting from AirBnb, I would be worried at some places that it might not be allowed and then if the leasing office or whoever finds out, you then get kicked out and have nowhere to stay for the night and potentially lose your money.
I rented out an Airbnb in my city and it was definetely an interesting experience. Everyone had their own reason for staying whether for business, anniversaries, sporting events etc. The rating system keeps everyone on their best behavior although there's always a few people that fall short of that lol. I tried accomadating each traveller with whatever small amenity they needed and for the most part I didn't have any bad experiences. As mentioned in your video though I had to stop hosting once the apartment complex found out, but I learned a lot from it and plan on doing it again where it's allowed. A couple tips I would suggest would be balancing the cost of a single room stay vs the entire place, and building a solid profile showcasing all of the details and features of the home. Thinking about what you would want in a place that you were staying and trying to provide those things. Ironically I took an entrepeneurship class in college shortly after I stopped hosting, and there was an entire class long presentation on Airbnb in regards to the background of the company, business model, regulations etc. They addressed the impact it can have on neighborhoods, and figured state regulation would help deter over-saturation. I think the true millionaires are the founders and coders of the app lol. Anyway great video! 😃
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I Airbnb my parents old house. After around 100G in upgrades and 8 years of work myself on it we let out 3 spaces to guests. It's a lot of work. I personally cleaned every bathroom and made every bed over the last two years. We live near a state park which is our draw for customers. It is definitely not a scheme or scam for us. Situations are different for everyone doing the Airbnb thing.....for us it's a fair supplemental income and the house is no longer a liability. We get to meet lots on nice people that we wouldn't otherwise meet and now the house is no longer a burden financially for anyone.
Hi Shelby! I'm from Ecuador and I live on the first floor of an apartment tower (first floor has a front patio and the rest very large balconies) and my upstairs neighbor lives in the US and rents his apartment, it is horrible because they always go down to our patio believing that it is a communal area (although it is clearly seen that it has a door and to pass it has to step on a mini grass hill and jump to touch the ceramic) in addition to it they are very loud, scandalous and if they are drunk on the balcony they start throwing garbage or some alcoholic drink to my apartment. It really is horrible and finally if they have the windows open you hear everything they do, EVERYTHING! Oh! and we have already complained to everyone, to the police, to the administration of the urbanization (the apartments are in a private urbanization) but since it is Ecuador here all your complaints go to garbage until those who are rented or hit the police or is there a murder there
Ppl who book these places, are looking for a cheap place to stay. So 80% of the time they dont care about the inside look. But there is some luxurious places to stay. Thing is When you cheap, that's what you get
A friend of mine has 3 of these and that’s it. He makes about an additional $20000 a year profit. He doesn’t want to book more due to the headaches. Not bad considering he has a normal full time job. The key is location
I am kind of hesitant believing the “basic math” part of the video where people are listing 100 properties on AirBnB and becoming millionaires. That sounds a bit much for one person to manage!
Hi Shelby, nice video! You've brought up a big issue that is going on in cities around America as it relates to Airbnbs in highrises. Last Memorial Day Weekend, we stayed in San Diego in a nice high rise building. But upon arriving we knew something was weird. 1) They also told us not to ask anyone in the apartment building, especially the leasing office, any questions about where the elevators are, where our room was, etc. 2) The lockbox was a block away and hard to find, and on a fence with 40 other lockboxes. 3) We were told we had to enter through the garage, where the cars enter, so we were rolling our suitcases down a ramp not made for people, but cars, and then had to take the elevator out of the garage so as to avoid the front desk. 4) In the building, people could spot us that we were Airbnb guests, and immediately made comments such as "Oh, another Airbnb guest", which obviously did not make us feel good when arriving at a vacation spot. 5) The airbnb hosts just don't take care of their properties well or consistently, the way (most) hotels or single-family Airbnbs do. They get them cleaned, take beautiful pictures and post them to make it look like a solid place, but then they don't clean them or take care of them (or their guests) the way hotels do...We ended up leaving after one night and went to nearby hotel, and it reminded me how nice it was to stay in a hotel, with guest services, and cleaning staff. That said, single-family home Airbnbs are a different story, and those I've found to usually be well maintained because they are usually mom & pop owned, versus highrise buildings that are rented and subletted/airbnbed out by the bottom of the barrel "entrepreneurs" trying to make money. It will only be a matter of time before more laws are put in place to protect--I hope! It's important for people to do their research and when you see sketchy check-in instructions or an Airbnb in a highrise in a popular city, it's usually not going to be the best experience. Please also keep in mind that Airbnb's support is super landlord-friendly, so if you're ever stuck in an Airbnb that you want to get out of and get your money back, it's challenging because they make you go through may hoops and the landlords (Airbnb hosts) usually have found loopholes to protect themselves.
This works well in the US, I'm doing it too. Not making millions though, lol. But it ain't bad money. In Europe however, it's a completely different story.
For all teh people here I was interested in this about a year ago and where I live(in the netherlands) it is illegal to rent an place to live and rent it out yourself. Idk for sure but I am almost 100% certain that this is in every European country.
True costs of YOUR AirBnB are externalized on your neighbors (noise, parties, traffic, constant stream of strangers...etc.). AirBnB can destroy peaceful quiet neighborhoods.
Things like this sounds great when you can just say “if you rent it out every day”. Honestly what are the chances that your place will be rented every single day? When would you even take care of it? How often does one person not leave at the time they are supposed to so the next person can go in?
I did it for 8 months in NYC, was booked every single day for 7 out of those 8 months. Never had someone stay past check out or oversleep, thankfully. You do get a lot of requests for late check outs and if you decline sometimes they leave a bad review. You set a strict check out and check in time, and it gets you at the least two hours to clean the place (normally check in at 2PM, check out at 12PM. Depends on your area, size of apartment etc.
It depends on supply, demand and the Price. Everyday is possible but very difficult unless ur under market price but than is it worth it to Airbnb if under market might as well do long term rental.
There should be a big icon on the listings for properties that aren't being rented out by the owner. Also there should be a search filter to get only properties rented by owner. This would require AirBnb to request hosts to upload documents to verify ownership, which is probably a good thing. Overall this would help renters and owners of other AirBnb rentals.
Totally agree! And all of these new regulations on airbnbs should not apply to owner run properties. Owners who live on the premises or nearby should not be treated the same as someone who's just renting out a place they don't own and where they don't live. Advantages should be given to owner-run properties on the sites too, that would help cut down on the problem.
Jeff Hadley I managed to pick some stuff up from family members for free, and the property came with a couch and the woven accent chairs/tables when I rented it.
A lot of these too are landlords who own the entire apartment building. When I went to Rome, a family owned the entire complex. They rented out floors 3 - 8 for actual tenants, but left floors 1 - 2 for Airbnb. Even had signs that were like "Airbnb 1 - 2. Residents 3 - 8". It's pretty smart!
Hey girl! I got an airbnb in Montreal last spring. (horror story⚠️) I went into an apartment building, using a pin passcode and then went up to the correct apartment and used another pin passcode to get into the apartment. When I walked in there was a man sleeping in the bed! I was so freaked out and luckily it was just a man sleeping and nothing crazy happening. He also was renting an Airbnb from the same people. He was so shook up as well, poor guy! I called the host and he said that he gave me the wrong information. He owns a couple units in that apartment building and accidentally gave me the same information as the man I walk in on. I got a refund and the host said that any time I wanted to visit Montréal again (from Maine) I was welcome to stay with him for free. I booked a hotel room for our stay because that experience left a bad taste in my mouth. I get that people make mistakes but doing the monopolizing thing that you’re talking about can be an issue!
his method remind me of wework, and the weakness of it is when the rent price go down. but wework get like 5 year which is why the investor worried about. now in the video they just rent for a year so maybe their exposure to economoc downterm is smaller.
How so? He gets a guest that strips the unit and doesn’t leave, like the movie Pacific Heights. Not his problem. He loses the deposit and walks away. The owner has to deal with the squatter, maybe lose $100k in rent, legal fees and repairs.
"Feels Unsafe" I know the feeling. Next door neighbor had their weekend getaway on air bnb until Homeowners started complaining to the Property Owners Association. Old rules didn't allow home businesses but allowed owner to rent property. No mention as to length of time a property could rent in our gated community. The issue led to new rules and regulations being voted in and, therefore, got rid of not just daily but summer rentals on our lake.
Great Vid Shelby!! If you account for issues that WILL arise! It is not worth it!!! High risk with not enough returns! I am a business analyst and this does not pass basic business 101. Very short term gains, and to much risk and many known/unknown issues fines and legal issues! The only one making money here is the AB n B. (They have no overhead) and the individual is stuck in a lease that could end up costing them money long term. The price of rentals is also inflated due to this! All around bad bad bad!!
I feel like Airbnb should regulate how many listings a single user can actually have. Having a number of listings that reaches in double digits seems a bit excessive for 1 person to manage.
My parents used to own two cabins in a popular mountain destination. They had it on Airbnb. The hard part is finding a good cleaning crew. It can be tricky to make good money too.
OptimizeMyBnb well one burned in a large wild fire started by some teenagers. The other cabin they sold because all the cleaning crews got lazy and couldn’t find any good ones. For many it works great, but for us it just became a chore!
We had someone do that with a house in our cul de sac. The neighborhood started a petition to get them out after too many party vans were coming in and out. The final straw was when the renters jumped into the neighbors suv thinking it was their Uber when she pulled into her own driveway scaring the crap out of her and her kids. They put up a fence between the two driveways all the way to the street and put up private property signs. The city finally passed a law saying the houses had to be owner occupied to do Airbnb. Sadly the young family next door gave up and moved. I like using Airbnb, but the places I stay are usually a “she shed” type room or mother in law apt where the owner lives in the main house.
I’m staying in an Airbnb right now and that is exactly it. Room, bath, private entrance, patio, connected to the main house. The Airbnb Shelby rented in West Hollywood was so gross. It can be challenging to find an entire apartment in that price range in LA so I understand why it’s booked even with bad reviews.
Very typical American attitude- "what I do is fine,but those other people are just nasty".I am sure if you have used this platform, you have violated many local laws concerning occupancy of property zoned as single family. A property owner (and much less a renter) does not have an inherent right to turn a house (virtually every home is under some sort of zoning restriction) into a short-term flop house. When you use Air BNB, at the very least you are giving the middle finger to honest businesses that have tried to provide short-term shelter for travellers.The reasons for zoning laws address the concerns you address, let's take this argument to the extreme- I have a new platform, it's called Air B-N-B BUY the Hour. This platform is perfect for prostitutes, junkies and those needing to crash for an hour of two. Imagine the amount one can charge for the space on a twenty four hour basis, disregard the neighbors, the zoning rules, law enforcement and it will be pure profit. It's a recipe for disaster.
Imagine being someone that works nights or travels out of town a lot and your wife and young daughters are at home in the house you paid for, and every night there's a new group of strangers coming to the house next door to you that are potential threats to their safety, Air BnB is not cool and not fair to people that buy their homes to be used as homes.
Thank you for posting about this. As a 57 year old single woman, I think my downstairs neighbor is doing this. Random people coming and going all day, all night, over the weekend, the guy I think realizes that I'm on to him. I'm friends with the property manager and I've been reporting on him for the last month. He has been asked if anyone I living with him, and he says no. Well, yesterday, creepy guy followed me to the main office, and randomly asked the manager if someone stole his window screen?? I did not recognize him, after he left the friend was asking me if I still have pictures of another random guy who stays with him every month. Today I intentionally stayed home, and documented every coming and going and even went down the back stairs to see what his back porch was like. Obviously he is renting place out. Several sneaky ways of hiding what he is doing, now I have proof and he's going to be in some trouble. Thankfully my apt was sold, and quietly I have secured another apt. in a different building so I will get away from his craziness! People are so rude and have no respect for someone else's privacy. Thanks again for posting!
I do this out of the country, Where rent is dirt cheap, However I just cannot imagine this working out for MOST people in the US, Unless they own the home. Here's a quick breakdown based on what I see in FL and NY/ NJ for example. And this is assuming you do all the house keeping, Which is just about as stressful as can be if you rent out frequently. For a house keeper add at least $400/month. EXPENSES: $1,525 RENT $1200 ELECTRICITY $200 INTERNET $50 CLEAN SUPPL. $25 (LYSOL, DETERGENT;ETC) MISC $50 (TOILET PAPER, NEW TOWELS TO REPLACE BROKEN;ETC) INCOME: 25 DAYS OF THE MONTH X 65/NIGHT (LET'S NOT ASSUME IT WILL RENT OUT THE ENTIRE MONTH AND BE GENEROUS WITH 25 DAYS) TAX 10% (LETS BE POLITE AND JUST KEEP IT AT 10% OF PROFIT) AFTERMATH $1,625 INCOME - 10% TAX = $1,462 So you spend about $1,525..... Get back about $1,450..... You're negative $75 down the line.... & Got at least a year contract to fulfill..... People think twice, Don't be naive, If you're area doesn't have absurdly cheap rent OR you don't own the apartment, Think twice ... Or may five times! ,Best regards
Airbnb is annoying, we always get our waste water clogged up on our cabin because our neighbour has all these different people there. We share the same pipes and pump so when those people flush things it cloggs up our drain and we get a flooded bathroom. Not to mention all the random people passing by all the time, the are usually nice but PLEASE don't flush things down the drain!
This actually became an nuisance for people who live in Portugal. Especially Porto and Lisbon (I'm from Porto btw). Because of this trend many people are obligated to live outside the city centre (where me and my family live) because the rent costs are becoming higher and higher but mostly because most of the buildings are hostels and majority of the flats airbnb.
Here’s what I can tell you as a Property Mgr in downtown San Diego: -100% of the Airbnb’s in apartment communities are illegal. -100% of them are used as a hotel without the regulations and standards of a hotel. -Most are not insured. -98% of your vehicles get towed, permits are supposed to match the vehicles they’re in (impossible when you have 4+ bookings a week). -100% of them are not regulated or checked with any standard guidelines. You’re probably bringing back some nasty traveler bugs and sleeping in unwashed sheets. The gentleman in the video seems nice but every host I’ve come in contact with are not pleasant, they’re just there to make money off you and basically take advantage of the property and you. Apartment communities are the worst place for you to book an Airbnb because there’s a 98% it’s illegal. Get a hotel, spend your money wisely.
I almost did this at the beginning of the year (pre corona virus). Got lucky that I didn’t do it. But in any case, a good lesson here is do not over-leverage yourself with any sort of investment (house, rental, stocks). Only invest what you can afford to lose!
I love your voice and you’re so soothing to watch and listen to! Your content is unique and I appreciate your outlook. Thank you for sharing your energy with us ♥️
I guess you need an army of staff to manage the leases. The only get rich quick schemes that seem to work are the schemes selling get rich schemes! Btw Shelby you’re gorgeous. Best wishes from Manchester England.
Dave Best there is no such thing as a “get rich quick”. Nothing that grants good results will be easy. Those who make it, went trough hell to climb up. And while you climb, you must make enough to hire help. It’s the only way you keep climbing
I love your videos. I just learned about leasing cars and homes. You are my favorite RU-vidr now. I will subscribe and like and comment. I will watch all the ads. I will share your content. Good luck with your Channel.
I love being entertained and stimulated to think of money making opportunities at the same time. You show the upside and the downside, and you know how to make a video. Nice work.
I would love if you talk abt delivero Like many ppl talk abt the business works great in delivero like anyone can own a restaurant so idk it would be great if you make a video abt it cause I only believe you speak the truth x thanks ps absolutely your videos 💕🙋👌
Shout out to you Shelby! Keep making videos I have no Idea about but love once you expose us to it... you are worrrrrkin sis and I appreciate you and your unique take on creating content! Proud subby! So interesting
Great video! But...it's worth pointing out that being a millionaire doesn't mean you have a million dollar (or more) annual income. It means you have a million dollar or more net worth. Net worth is what you own minus what you owe. The quickest way to get to that kind of net worth is to buy rather than lease. When you lease, you are just increasing someone else's net worth.
Yeah, they were complaining about random things like a scratch on the wall and a refilled soap bottle. Like sis really? It's not that deep. I use AirBnB to save money when I travel, that's it lol
i couldn't sleep in an airbnb bed. they don't have the same washing sheet standards of a hotel. bedbugs, who knows. just gross. its bad enough to even stay at a hotel.
golfmaniac007 //Yup exactly. People sleep on (pun not intended) the standards that the hotel industry has to abide by vs. AirBnB which is basically the Wild West.
Another interesting topic Shelby! Had no idea this "rental arbitrage" was going on, and in some places, it makes sense to do it. Bigger risk in larger cities that don't allow it, or restrict it. So did the $80k in expenses include the cleaning service and supplies, taxes too on the income? Maybe that's a Robert question? Been thinking of doing this for years, for to pay for my own vacation home somewhere, that I rent out on Homeaway/VRBO, etc when I'm not using it. Haven't got there yet, but I will. haha.
Hi i'm Real Estate Agent. I used to involved in this Airbnb. I saw people made 100 thousand a month. They not really only doing Airbnb, sometimes they also did sublet instead. They rent it Non Furnish, furnish the house, and rent it out. Because at the end of the day sometimes people want a house with the good Furnish. I think this is what distinguish sublet and direct owner, bcoz the least rental is 1 year, they only wanted For 6 month, so that is why Airbnb or sublet is the best choice. And there must be demand. Those who focus on certain place. People will start realize, hey want a nice furnish house? This is your guy.
*Oh wow! I liked title of this video )) I’m very excited to watch it, thank you for sharing ) Your channel inspires me to work hard on my channel, I hope one day it’ll be successful like yours))*
*hm....I was pretty sure subletting was illegal? But Shelby no hate at all for your video, you did amazingly well, so through, and beautifully filmed and explained! I also love Airbnb, so I'd love to do it in the future...legally*
will come back in an hour when there are more comments.I love your content y shelby you are so pretty beautiful stunning. amazing video i enjoy love your videos very intresting queen love you❤❤ You are my favorite youtuber!❤. You should do a video on Turo! I’ve heard people getting a lot of sketchy cars with a lot of problems. Everytime an ad pops up, I remember Shelby explaining how putting ads in the middle make you more money. So no worries, we still continue to watch your great and insightful video. I have learned a lot! If you have just learned this like me, let me know! Excellent video Shelby, it’s now even more clear to me that I never want to own rental property. Totally lucrative but not worth the headache...
I’m all for AirBnB’s for certain situations. It certainly shouldn’t be done on just ANY property and the manager HAS to stay on top of everything. It just requires a lot more involvement and maintenance than a leased residence. If you’re not willing to put in the work and effort, just lease month to month or a yearly lease.
It wasn't an electrical issue, the outlet plate was plastic and over tightened which caused it to break. Very cheap fix under a few dollars to repair. The biggest thing is it looks as bad as the dirty walls... upkeep on that place sucked.
Shelby, Would you do one on how much people make on Turo? I heard normal people start with a car or two and end up making millions with a fleet like a car rental company. Really appreciate this content.
As a owner, and landlord I would beyond pushed off to have someone do this to my investment. I go through a lot of work to pick the right tenant and it's not meant for them to let someone else live there.
As an Airbnb host, I rent properties from landlords to turn them into Airbnb's and for them its like having a free property manager that takes care of their property and keeps it in great condition. My landlord typically has to spend hundreds of dollars to renovate a place once tenants move because they trash their place. But, now I have solved that problem and he cashflows more with my service. You should really look into it.
I just got out of AirBnB in Thousand Oaks, just outside of LA, and it was definitely an experience. The owner lived right next store, which was nice. House was very nice, up on a hill, was very clean and was quite big. I think that trying to run an AirBnB would be an interesting idea to try if you had a spare property.
Please let me know what landlord and/or property management allows for "sub-leasing" in the lease because out of all the places I have rented to live in, not one lease even allowed for that. Honestly, I've thought about dabbing into the idea of it. But whether you do it legally or illegally, just seems like way too much stress. Dealing with tenants, property damage, having to clean the place, etc...
There is one Airbnb where I live at and the landlord just lets anyone stay there. But that one time some renters totally trashed the place. Homeowners only think about the money flow but not aware that’s is such a disturbance to neighbors around
Where you have people and houses, you will have a housing crisis. Personal business shouldn't be limited because of the feeling of a problem that is going to exist any way. The only way to get rid of a housing shortage is to get rid of houses. That being said, how do you get information about traffic in a market to decide if you want to get a property in an area?
That soap is legit actually. Transparent coconut ginger soap is probably not really clear but this one is. Best one is the brown sugar soap and it is brown too
I don’t think it’s possible to get a permission for a landlord to rent his house to someone else without paying him percentage of the profit. None of the ones who do airbnb mentioned it... I doubt this whole deal.
Shoshana I truthfully don’t split profit with the property owner. The value I offer is taking immaculate care of his property and insuring rent is paid on time every month. Two things average long term term tenants don’t typically guarantee.
Shoshana I allow this with my properties. I’d much rather rent my house to an entrepreneur that is going to have it professionally cleaned 5+ times a month than a traditional renter.
I will never let anyone rent in our house. I don’t care if I’ll earn from it. We have several experiences were our previous renters did not pay, or will not leave. Our last renter, I have to call the police because I caught her stealing from us. The police can’t do anything about it since it’s not thousand of dollars. Then the day she finally decided to move out we helped her move out and put her things inside her car. Guess what? I saw that she stole 2 boxes of kitchen essentials from us. I kept my mouth shut because I just want her to leave and those can be replace anyway. We now move to a new and nicer house and we will never ever rented our house again. What a nightmare to go through.
Yes it works. I currently manage 32 short term rental properties and growing. You can automate everything and scale it up. Put cheap but stylish Ikea furniture and you're all set. The listing in the video wasn't nice at all, you can do much more with a few grand. This is a serious business. You can make millions in the right cities.
Wow I always thought the people who had the air bnb’s owned the property. I think it’s cool that multiple people have businesses that way, but it’s kind of unfortunate to people who are wanting to actually live there. Nonetheless great video Shelby! ❤️
Yea I lived in Capital Hill near downtown Denver. The nextdoor house was an AirBnb and it was pretty annoying. Same thing with weird randos knocking on the door and practically coming up to the house when it was the next door house. I have heard it is horrible for the neighborhood rental market. It drives prices up. Im not sure how i feel about it.
I’m in a small tourist-based town in the foothills of northern CA, and it seems that the majority of the houses getting sold are becoming Airbnb’s. It’s gotten to the point that the 3 historic B&Bs in town are suffering to the point that they all are for sale. Kinda sad.
