thankyou very much SandyToes
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Some things you can’t quantify. I was a landlord for 20 years previously. The biggest and most frustrating aspect was those incredibly tedious preview appointments. Thank you, thank you, thank you Air!
Double. And with 3 units it is enough for me to afford a full time property manager who also takes care of my long term rentals. But equally important, Airbnb means I am not vulnerable to the usual risks with tenants.
My experience mirrors what a few others have mentioned.
I do a combination of LTR & STR.
In my vacation area units (2) LTR revenue is 40% that of the STR. However the 2 units are highly seasonal so it is doubtful that I would get more than 15 days of STR rental per month during the off season. Off season is when I do the LTRs with the discounted price. If someone wants a LTR during peak season, I charge full price. I only have 4 months to “make the money”.
My third unit is not in a seasonal rental but it is not an area with location draw like a large city or resort area. I will gladly do a LTR at 60% of the STR revenue, because it more than pays the bills and provides some positive revenue stream with less work by me. Also the STR market here isn’t steady so 60% beats this month’s 25% STR occupancy (traditionally slow month).
It’s not a matter of convenience , it’s a matter of survival. Most people do Air because they need income. For many it’s the only way to make any money because of many reasons: age, lack of jobs, etc.
I started out as a little extra to help pay for air tickets and then life took it unexpected turn and now Rent out rooms is my major source of income. All I had to do is own a house.
I don’t know how it’s in other countries but in US it’s more complicated that 50%. We have write offs and income brackets so it’s not clear cut situation.Its different for every person.
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In Ireland a single person that earn more than 33000 euro per year will have to pay around 50% taxes , same for a couple that earn more than 68000. 33000 euro salary in Ireland is quite average and most of the people earn that sort of salary ,especially if they work in offices. Renting rooms long term in our own property is tax free, not sure if you have this option in USA
I the U.S. rental income is taxable income regardless of whether you’re renting a room on or off your property.
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Income is income. In US you still have to declare no matter where it came from.
No one pays here 50% but… we pay for everything like medicine and other thing that are covered in Europe
My sister is living in Florida and she is not paying more then me, actually her health insurance is much cheaper than mine and when she claims medical expenses her insurance is much more generous then mine. Since I have a rare disorder I know several doctors in USA, some specialist from USA even offered to give me a consultation for free. Here specialist are asking me 400 Euro just for a consultation. The insurance only gave back 1/4 of the expense. I also had a test in USA because meanwhile in Europe it would cost me 15’000 Euro in USA I paid just 7000$. European public health is not free, we all pay taxes and very expensive taxes as you can see people that deal with airbnb have pay 50% taxes most of the time. We pay lots of taxes for public health but then many time we have to go private because with the public you are put in the waiting list that can last years (I am not exaggerating)and you could die in the meanwhile. Waiting list in Ireland for public health service are out of control and you can even wait for 9 years. Do you wait such a long time in USA as well? https://www.irishtimes.com/news/health/waiting-lists-in-public-hospitals-out-of-control-1.3161240
No of course we don’t have waiting lists other than organ transplants. I always thought of medicine in US as the most expensive in a world. I didn’t know this is how it is in Ireland.
I know many people go to other countries for medical treatments . Many In US have no health insurance. So every trip to hospital can make you broke. My family is only covered for hospital as to afford doctors visits covered gets too expensive in our age bracket.
I am traveling now in Kenya and got sick here, lost my voice. The whole trip to private clinic with antibiotics and other meds was not even 10$😀
Sorry Mille but no one in Ireland is paying 50% income tax on a salary of circa €33,000. The highest rate of income tax in Ireland is 40% and then on top of that there are some other charges, one covers your state pension which is a very good state pension by international standards and one is s much hated charge which was introduced when the Irish economy collapsed a few years ago. In Ireland if you are on a very low income and have a ‘medical card’, then health care is free. I agree about long hospital wait times, they are a disgrace. Making accurate comparisons with America is difficult but in matters of health care the World Health Organisation allows one to analyse data on the different health care systems and the last time I looked America was performing pretty poorly.