Anything less than this, you should consider very carefully whether it is worth it or not,” says James. “I would recommend a goal of securing at least 60% more income from an Airbnb property than you would from a long-term tenant.
He says compared with having a long-term tenant, there is a lot of extra work involved in running an Airbnb property. The average income quoted by Airbnb will be skewed by properties in the hottest locations in SA,” says Ashley James, co-founder of Property Fox. “Not all Airbnb listings are created equal and you don't want to be stuck with a financial deadweight. This is according to Nicola D’Elia, managing director for Airbnb Africa and Middle East, who says Airbnb can be an exciting income stream, but South Africans should do their homework carefully before buying a property specifically for this purpose. The average income quoted by Airbnb will be skewed by properties in the hottest locations in SA,” says James. So what you can do instead is to buy a couple of units, give them a nightly rate, and launch them on the platform to start getting bookings and recover your returns faster.“Not all Airbnb listings are created equal and you don't want to be stuck with a financial deadweight. You still need to own at least 25 units to get there. This is all well and good, but if you're trying to replace a job that gives you $5,000/month, this income won't give you much. If you're familiar with cash flow goals for long-term rentals, you've probably heard that the aim is to earn $200 per unit per month. You don't have to buy properties to get started. We use this innovative business model with Airbnb, which has since accelerated our cash flow and offered tremendous growth.Ĥ.
Thankfully, there is a way to build a system and create a team that operates the business on your behalf. Add this to Airbnb's online platform, and your market potential gets wider.īut here's the thing: you may still be trapped by working around the clock to manage your listing. Short-term rentals are passive in nature, which means that if you have a property, you can still earn even if you're not around.
With Airbnb short-term rentals, you don't have to work like an employee.
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