More and more people are dipping a toe or diving right into short-term rentals. AIRBNB and similar platforms are making it easy to market and get paid for sharing your home with perfect strangers. Short-term rental can be a great way of offsetting some of your mortgage costs.
Over the past several years, we have become big proponents of utilizing short-term rental as a way to test the waters in terms of using real estate as a source of residual income. This always begged the question, “Do you do short-term rentals?” For a lot of people, offering your primary residence seems like a pretty scary idea but we want to help take some of those fears away.
We’ve been fascinated by it and last year Phillip and his wife decided to go for it. This episode is about how they started, what they experienced, and mostly what a positive experience it was for them to offer their primary residence, get paid for it, and build some family memories in the process. That’s not to say there isn’t a cautionary tale in there as well.
Find out the answers to burning questions, like, “Why would you do that?” And “Where do you put your stuff?” The market for short-term rentals shows no sign of slowing down so if you’ve ever thought about it, this episode has some first-hand information that will help you decide if it’s right for you.
What You Will Learn in this Episode:
- How to use your home as a short-term rental when you are on vacation
- What to know before you consider short-term rental
- Being strategic about what you want to get out of your short-term rental experience
- How to prep your home to use as a short-term rental
- What to do with your stuff when renting out your own home
- How to automate as much of the rental process as possible
- How to leverage the power of AIRBNB to market your short-term rental
- What to do with a worst-case-scenario guest