Living in a place on Airbnb instead of renting (2024)

FAQs

Can I Airbnb instead of renting? ›

If you'd like an alternative to renting or a long getaway, a monthly stay might be a good fit for you.

Perhaps the biggest pro of booking a monthly Airbnb rental is the amount of money you'll save. A 2022 NerdWallet analysis of more than 1,000 U.S. Airbnb listings with check-in dates in 2022 or 2023 found that the savings for long-term stays are indeed significant.

Airbnb doesn't allow properties to be rented out for more than 90 nights per year. If your limit for bookings is reached, Airbnb will automatically close your property until the end of the calendar year. In addition to 90 consecutive days, the 90-day limit also applies to 90 days spread throughout the year.

Risk bottom line: Airbnb vs. renting. Airbnb: Higher overall risk due to guest turnover, specialized insurance needs, and potential community pushback. Traditional rental property: Lower risk profile with better screening options, standard landlord insurance coverage, and more stable community relations.

Airbnbs have higher potential returns but are variable and management-intensive, while traditional renting has more stable income but potentially lower returns. Location, demand, amenities, and local regulations influence ROI for Airbnb, while economic trends and property features impact long-term rentals.

According to Airbnb, the average host earned $13,800 in income in 2021. If we apply that to our $200,000 single-family rental, you get an ROI of 6.9% In this scenario, you could make more money with an Airbnb compared to a rental. But what if it's an off-year and you only earn an investment gain of $8,000.

I lived in Airbnbs around the US for over a year. It was cheaper than paying rent, and I got to explore 14 different cities. I lived in Airbnbs for over a year, staying in each one for about a month at a time. It gave me time to immerse myself in local communities and make connections with property hosts.

Airbnb has fully furnished apartment homes ideal for staffing, corporate housing, and relocation needs.

Or the 80/20 rule? It says that 20% of your efforts result in 80% of your outcomes. For Airbnb property managers, 20% of your Airbnb listings result in 80% of your income.

There is no one-size-fits-all rule for setting minimum stays. Some hosts opt for a one-night minimum stay. Others insist on week- or even month-long stays to attract only long-term guests. Many set a two- or three-night policy and forget about it.

What happens if someone stays in an Airbnb for 30 days? ›

For example, in California, Illinois, and New York, a residential tenancy may be created after 30 consecutive days of occupancy. Someone who stays with you for fewer than 30 days generally does not have the rights of a tenant unless there is a written agreement to the contrary, but every state is different.

While Airbnb can provide higher short-term rental income, this income can be less stable compared to consistent monthly payments from long-term leases. There may be periods of lower demand, impacting overall cash flow.

They found that a 10% increase in Airbnb listings leads to a 0.39% increase in rent and a 0.64% increase in house prices. Why is this the case? It's believed that Airbnb takes long-term rentals off the market and turns them into short-term rentals, catering to tourists and temporary visitors.

While Airbnb can provide higher short-term rental income, this income can be less stable compared to consistent monthly payments from long-term leases. There may be periods of lower demand, impacting overall cash flow.

Short-term rental property management

One of the more popular ways to make money on Airbnb without owning property is to become a short-term rental property manager. This role allows you to leverage your hospitality and management skills to generate income by overseeing properties on behalf of owners.

When it comes to renting out a property, property owners have two primary options: short-term rentals, such as those listed on Airbnb or Vrbo, and long-term rentals.