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I guess a STR person DYING was not on my ‘bucket list’ of things to project manage & never really gave it much thought.
With my LTR’s most of my places are married or couples. If someone was to pass away while in the property (has not happened as of yet), my expectation would be the spouse would probably take care of it. Providing the person didn’t blow themselves away with a shotgun blast/etc.
Some of these places I have read about have had massive parties where someone gets KILLED. I can see where that would/could impact my business, especially if I needed to turn the property.
I will grant that the Airbnb stuff is sensationalized. And that is the way the hotel industry wants it. In many places the hotel industry is SCREAMING bc of airbnb/vrbo & others. But you still don’t hear about what was the root cause of 12 deaths in Haiti earlier this year. All at one resort, I recall. Possibly “bad tip syndrome”?
About 250,000 people stay in Airbnb’s in the USA every single day. Purely statistically, in the USA about 5 people out of 250,000 will die on any given day. While I expect Airbnb guests to have a lower death rate than the statistical average, I’m more inclined to believe there “a LOT of DEATHS reported at Airbnb’s” simply as a result of a lot of people staying at Airbnbs.
People die in all sorts of accomodations everyday @A-Lan
A handful of cases have been reported about deaths in Airbnbs against the millions of bookings that take place around the world every day.
Parties are again very much in the minority and tend to happen where hosts don’t have measures in place to monitor their properties such as CCTV and amongst newer hosts who don’t vet their guests properly ignoring red flags such as a single person renting a large property for one night.
Of course managing an STR is more time intensive than an LTR (I manage both) but the financial returns in most cases are substantially higher.
I currently rent anywhere from 1 - 90 nights on Airbnb (discounts apply to longer stays) so the conversations on LTR “medium term” are helpful. Especially since I’m currently too lazy to list on the other sites!
ther are thermostats that can not be overruled by guests, at all (and it’s not Nest). Just state it on the house rules and say it’s cs the house is run “green / efficient”. If they don’t like it, just tell them to go.
As a rule, i warn people from year round countries to book elsewhere.
My health is more important than a fight with an angry brazilian insisting on a “tropical heated house”.
Actually, it makes a lot of sense to do LTR over airbnb.
To begin with: you have a lot less competition! (all those youngsters who COULD rent out STR, can’t offer an LTR in a rented home, unless they have another place to sleep in looooooong term, right? )
The no.1 problem “genuine property owners” ran into on airbnb STR, is that any nobody who had keys (rather than a property title) could run and STR and compete against you, running prices to the ground. STR doesn’t bother these “landlords” because they get to return back into their homes after letting in weekend travellers.
But I’ll bet if you ask all those “hosts” on airbnb, how many would be willing to switch from STR to LTR, most of them will just quit. For the simple reason that the home they list, isn’t even theirs!
Which in turn means, you can’t sneak in a tourist, cs you’ll have to effectively “hide” that LTR for several months. Not even mentioning the fact that the host will need to invest in a 2nd home to have a roof over his head during the time he’s renting it out LTR.
If my calculations are right, genuine home owners will be seeing prices go up again (LTR and STR), because current hosts who don’t own a property won’t want to rent anymore for small change. And renting LTR won’t be appealing to them because that means they’d need to have another place to stay in for themselves.
So, the market will rid itself from sublets, gradually. Usually they aren’t even allowed in contract anyway, so it’s risky business for them to start with.
True on both accounts…but speaking of accounts, usually much more lucrative in the bank account! I actually will probably turn down my brother renting long term for a year because I make more than double by doing STR. In the mean time I am trying to get him to consider living in the foreclosed lake house I bought across the street from me while I get it fixed up.
STR more lucrative really depends on the jurisdiction you’re in.
Say LTR is tax free. You’ll keep the whole lot.
Say the STR is heavily taxed (maybe even takes up your time/also needs turnover staff to checkin and out). Chances are you make just as much as on LTR after taxes and your time charge.
But like i said, it all depends on your jurisdiction, and whether you’ve got a fulltime job, or whether you put in your “own time” as a free of charge factor.
I can’t turn over my 50 properties by myself, so my time will never be enough, no matter how hard i try. But if i had 2, and was a stay home dad, and lived in a different jurisdiction, then i maybe i would have decided differently.
Possibly “bad tip syndrome”?
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