HOW TO MAKE MONEY IN AIRBNB THIS 2020?

HOW TO MAKE MONEY IN AIRBNB THIS 2020?
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AIRBNB has been a good source of income to a lot of people who own real estate. Due to the lockdowns and the pandemic is it still a good source of revenue today? We AirBNB super host, Rica Hernandez, share her AIRBNB experience.



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Whether you’ve stayed in an Airbnb rental for vacation, or have just heard about the lucrative possibilities of owning a sought-after short-term property, owning a portfolio of Airbnb rentals may seem like a smart way to boost your passive income. Using the Airbnb platform—or a competitor such as VRBO or HomeAway—to rent properties can be a lucrative real estate investment strategy, but it also has challenges. In some cases, it may be easier and more profitable to simply rent a property to a single tenant, or forgo real estate investing altogether. Here are some of the key pros and cons of using Airbnb and short-term rentals as an investment strategy. It May Be More Lucrative Than Traditional Renting A solidly-booked Airbnb rental may be more profitable than renting the same property to a long-term single tenant. That’s because you’re usually able to charge more on a nightly basis. In Seattle, for example, the average apartment rents for about $2,000 per month.1 That represents $24,000 gross income if the tenant signed a 12-month lease. But what if you went the Airbnb route? According to AirDNA, the average daily rate for an Airbnb rental in Seattle is about $150, and units are occupied an average of 270 days out of the year.2 If you rented out your Airbnb for $150 per night for a total of 270 nights per year, it’s possible to rake in $40,500 in gross revenue from the rental. That’s $16,000 more than you’d make through traditional renting.


You'll Get a Diversified Portfolio of Tenants 
With traditional renting, you are putting your eggs in a single basket with one tenant. This can work out fine if the tenant is financially reliable and stays for a long time. But if they ever miss rent payments or simply vanish in the night, your income takes an immediate hit that’s hard to immediately replace. 

With an Airbnb rental, you are collecting income from different tenants on a regular basis. Each renter represents a very small percentage of your total income, so if any of them cancel at the last minute or otherwise flake on paying, it may not have much impact. 


Expenses May Be Higher
If you own a property and rent it to a single tenant, your involvement in managing the property could be minimal. A conscientious tenant will pay bills regularly, keep the place clean, mow the lawn, and stock the cupboards. You’ll only need to step in to perform property maintenance or handle the occasional emergency.



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