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.
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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.)
Recommended Read: “Tax Reminder for Landlords in 2023: Report $600 or More in Rent Income ~ FOR REALTORS/LANDLORDS: December 2022 Substack Exclusive (Part 2 of 2)”
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.
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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.