Airbnb as a Plan B

[NorthWestPerm2Contr]

Not been on for a long time as I've been working 2 contracts at the same time + a startup venture.

I've just had a family member put one flat up in Manchester on Airbnb. Seems to generate up to 2 x the rental value based on 24 days/month occupied. Is it worth considering as a potential scalable business? I know in London you are limited to 90 days a year but that doesn't appear to be the case elsewhere.

[scooterscot]

I've been a airbnb host for the past 4 years now. Yield has easily been around 10%, it trounces long-term lets. Of course they are caveats... you need to be very flexible. In the end I could not service clients so I employed someone to do it for me, which takes me back down to long-term levels of income. If you're not living next door to the place, forget the riches. Not only do you need someone reliable, you need someone you can trust. Can't overstate 'trust' enough. Unfortunately native Brits don't want anything to do with working in this industry, the last I did have smoked like a chimney, lazy, and charged the earth. I then found a lovely couple living outside of town who took care of it as if it were their own. I was lucky.

So if you're going to scale, you need to become a magnate in one area. Otherwise find someone you can trust. Without that it's a lost cause. Also, unless you're a cash buyer then entering the market with borrowed money seems more than a little risky at the minute. Wait until the debt crisis is over. Buy when there's blood on the streets, not when everyone is celebrating like there's no tomorrow.

[woohoo]

I've been a airbnb host for the past 4 years now. Yield has easily been around 10%, it trounces long-term lets. Of course they are caveats... you need to be very flexible. In the end I could not service clients so I employed someone to do it for me, which takes me back down to long-term levels of income. If you're not living next door to the place, forget the riches. Not only do you need someone reliable, you need someone you can trust. Can't overstate 'trust' enough. Unfortunately native Brits don't want anything to do with working in this industry, the last I did have smoked like a chimney, lazy, and charged the earth. I then found a lovely couple living outside of town who took care of it as if it were their own. I was lucky.

So if you're going to scale, you need to become a magnate in one area. Otherwise find someone you can trust. Without that it's a lost cause. Also, unless you're a cash buyer then entering the market with borrowed money seems more than a little risky at the minute. Wait until the debt crisis is over. Buy when there's blood on the streets, not when everyone is celebrating like there's no tomorrow.

#casualracism#metoo#fatbastardo

[northernladuk]

AirBnB is the future. Next stop the mooooon. I'll be charging 10 quadrillion pounds per day by the end of the year

FTFY

[northernladuk]

Not been on for a long time as I've been working 2 contracts at the same time + a startup venture.

I've just had a family member put one flat up in Manchester on Airbnb. Seems to generate up to 2 x the rental value based on 24 days/month occupied. Is it worth considering as a potential scalable business? I know in London you are limited to 90 days a year but that doesn't appear to be the case elsewhere.

Are you going to do any of your own research or just post a 3 sentence question in General and expect everyone to do it for you?

[GJABS]

Could you eliminate capital risk by renting long term, and sub-letting through airbnb?

[Paddy]

Not been on for a long time as I've been working 2 contracts at the same time + a startup venture.

I've just had a family member put one flat up in Manchester on Airbnb. Seems to generate up to 2 x the rental value based on 24 days/month occupied. Is it worth considering as a potential scalable business? I know in London you are limited to 90 days a year but that doesn't appear to be the case elsewhere.

Read the Lease; it may have T&Cs that you cannot subset or cannot carry out a business. You could forfeit your lease to the freeholder if you break the T&Cs

[scooterscot]

#casualracism

WTF?

[Mordac]

WTF?

He means you slagging off "native Brits" as per usual. See, you do it so often you don't realise you're doing it.

[scooterscot]

He means you slagging off "native Brits" as per usual. See, you do it so often you don't realise you're doing it.

HTF is that racism? It's a well known fact, the UK has a productivity problem cause of work-shy types. I've moved around the continent enough to realise now that UK workers in general spend massive amounts of time in the workplace talking, facebook, etc it's insane yet they expect to be paid wods of cash. I reckon Greek folks are some of the hardest working I've ever met. Germans not so much, but very very efficient.

Britain’s productivity crisis in eight charts