My flat is without beds, a table and a remote-controllable lock.
I am living 600km away from the flat.
I am deciding between AirBNB and normal letting.
My pros for AirBNB:
- I can earn more
- I can throw out badly behaving guests easily
My cons against AirBNB:
- I could have no income for quite some time, especially, if the flat is badly rated.
- Flats have already been used for porn sets and AirBNB’s rating didn’t change anything about that
- I have to buy and install a new lock. Still people have to enter the main door, which is again locked and people refuse currently to have a pin-lock there.
- I am highly dependent on good ratings
- I need to install Wifi and everything else that makes it comfortable for a guest.
- AirBNB claims to pay up to 800.000€ for damages but reading forums, they don’t pay anything most of the time.
- AirBNB fees
- Having high fluctuation, the likelyhood of having guests destroying the property becomes higher
Pro independent letting:
- I don’t have to care for the flat for quite some time
- I don’t need to install accessories
- Nobody rates me on the internet
Contra independent letting:
- I constantly earn less than - provided it works - it is being let with airbnb
- If something happens to my flat, I have to find contractors for the first time. With airbnb, I would already have easily available contractors because the demand is there from the get-go and constantly.
What pros and cons can you add?