Are Airbnb-friendly apartments the future for landlords?
Landlord bans Airbnb rentals? New option for tenants!
Long-term renters may be the ideal client for a landlord who doesn’t want to deal with a revolving door of tenants. But for aspiring landlords who have the patience for it, Airbnb’s apartment-friendly rentals may be the best way to let tenants know if they really have the heart to be a landlord.
Airbnb’s new program, which is currently available in 29 cities, partnered with various building owners to make short-term vacation rentals even easier. Instead of tenants worrying about landlords who won’t allow Airbnb guests, these locations are intended for Airbnb hosts to rent the units from a property owner, then promote and book the unit as an Airbnb location. The hosts then act as a host/landlord for that unit while the property owner becomes more so a silent partner. (Airbnb does not own any of the buildings.)
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For tenants who tend to travel a lot, this is a useful way to make passive income from guests. The tenants-turned-hosts can choose how often they want to rent versus reside.
Of course, just as every tenant isn’t the best, neither is every guest. So an Airbnb host who is renting out this Airbnb-friendly unit may find themselves realizing that being a landlord isn’t all it’s cracked up to be. However, unlike with buying property, they can avoid having to put the place up for sale if they don’t want to be a landlord anymore. Just wait for the lease to expire. For those tenant/hosts who enjoy Airbnb hosting, this is a crash course into whether they want to save up and invest in buying their own property to do this on an ongoing basis.
With all that said, there are a few catches.