Why did you start hosting?
So I wouldn’t have to sell a second home/holiday home that I was attached to.
It’s going well, but isn’t making enough to justify keeping it while house prices in the area are stable. I’ll probably sell at the end of summer.
To be able to afford my loan modification payment (and emerge from foreclosure) without having to commit to a longer term tenant.
I had a tenant in the unit but had to evict him and he was such a miserable human that we never wanted to do that again. A friend suggest Airbnb and I remember a vague commercial for it on TV and started research it and first articles that came up were all the horror stories. I almost didn’t do it then came across forums, including this one and while in the process of evicting this sh@t stain I researched unless hours and picked the décor of the studio. I love the whole experience and did want to open a B&B in retirement, so this was a natural fit.
So that my partner would not have his primary residence foreclosed upon after the 2008 U.S. financial meltdown. So many god sends in various forms came his way. The house was never meant to be a rental, but now it seems it always was meant to be that - oh how the universe works in mysterious ways.
We had an extra bedroom in our basement - a large, yellow, sunny bedroom - but we never found anyone to rent it long-term - we don’t advertise, but use word-of-mouth. Nothing ever fit.
I stayed in an airbnb in Mobile (the host remains my muse) and again in Richmond, VA. Both were great experiences. Like @Carmen my husband and I had already discussed how much we’d like to run a B&B, so it was a natural step to try hosting. So far, all the money has been put right back into the business as that level of our home was barely finished and had a toilet, but not a bathroom. Now it’s a pleasant, functional space and we are so happy. So far I’ve learned a lot about different cultures, other humans, and myself. So, win-win-win.
Celebrating our one-year anniversary on June 9!
I used it as a guest and thought…I could do this. But I started hosting/boarding dogs first so I spent a year seeing how that would be. I added airbnb to my DogVacay in May 2014. I only made enough to pay the property taxes but really enjoyed it. I started primarily to see if it would be a viable supplement to my pension and to retire early.
To pay for some major repairs we need on our log home, which begin next week. And, like @KKC, to see if it’s something we can do to supplement our income in retirement (about six years away). Still trying to figure it all out and I’m so glad to have found this forum. I look forward to reading your posts EVERY DAY!
Our story is almost the same. We hosted for several years on a casual basis. Then we had long-term tenants who, although they were lovely people, decided not to pay the rent for six months!
Airbnb to the rescue
Sorry to be the jerk of the group. Its all about the benjamins baby!!
You are not the jerk. isn’t paying a mortgage all about the Benjamins?
I had been a homeowner for 2 months when The furnace needed to be replaced. Luckily, I had the funds, as I had set some aside for emergencies. 4 months later…the upstairs bathroom cracked, leaking through to the bedroom underneath and causing damage!
I did not want to take out a loan or go into debt to fix that shower/tub unit. Nor did I want overtime in my already stressful job.
Luckily, I have a very small full bathroom on the 2nd floor. I used that bathroom all winter just asking that I somehow be provided a way to make the money for the repair.
I had heard of ABB, but stumbled on it again. I rented the whole house enough times that summer to have a beautiful tub/shower unit professionally installed.
I also send a portion of my earnings from ABB to my nieces who are in college, helps them with the little things They are very frugal and grateful young women.
- To help pay off my mortgage early
- To know I could have a small income from renting when I retire early in a couple years, and so far that appears to be possible
Always talked about running a B&B with my sisters. Then when my then boyfriend, now hubby went on a trip to Ireland in 2001, we fell in love with the idea of one day having one. He found an article about ABB and we talked about trying it. Never thought we’d have so many people from all over the world stay with us because we are in a very small town, not touristy. It’s been really cool.
The Benjamin’s help but that wasn’t the reason we started. It was about the experience. Also, if I’m going to be completely honest, I really like that people come and see our home that my husband and I have worked very hard renovating and updating. I like to hear that all our work is appreciated.
Maybe I’m being uncharitable, but they don’t sound all that lovely to me.
To use out the spare bedrooms we have unused for so long in our large apartment and to turn them into extra income
We had 4 months and no tenant for an appartement we have so we started last month air bnb and other websites. It’s working so well that we are thinking to continue with only short term tenants
To help with bills etc while I wasn’t working over winter
For extra income to give me kids extra treats - trips to other countries, a dinner out,
Doing AirBnB means i only have to work a few hours per week and be a more ‘present’ parent to my gorgeous son Our guests widen his view of the world and I love hosting so it’s a win-win