Anyone an AirBnb host?

[Strawberry72]

Is it worth it?
I’ve stayed at a lot of properties through AirBnb and, mostly, had very pleasurable stays. I am now thinking of hosting. I am in a position in my life where I need to move but I’d also like to invest in property in some way. I am thinking of downsizing slightly to a 3 bedroom house (currently in a 4) and I’d love to move from the town into a village/countryside location. We are half an hour from the Yorkshire Dales. Mortgage free and recently promoted so my salary will increase over the next 8 years.
I’d like to either buy a property with an annexe or buy a property for myself plus a small cottage (as an investment) to rent out. AirBnb attracts me. Even buying something closer to the Dales.
Does anyone host? Is it worth it? What are your plans for the property once you approach retirement (20 years for me)?

Is it cheaper to rent out of your own property? More of a money earner?

My friend rented out his spare room in a city centre flat.
Pre covid it was a real money spinner BUT
in his words - people are fucking stupid, he’d have to explicitly spell out every tiny thing… on one occasion which side the fridge door opened. Also the level of wear and tear was really quite high.

Mortgage companies don’t love Airbnb so it may be an issue if you weren’t a cash buyer.

Make sure you check local council laws regarding short-term lets. A lot of places are now putting limits on how many days per year that you can rent out a property. It's mainly cities, for example in London you can only rent out your entire property for 90 days per year as a short term let, such as air bnb. Otherwise you need a permit which can be hard to get sometimes.

I believe if you went the annexe route you would be fine as you wouldn't be renting out your 'entire property'. But worth double checking

We live close to a teaching hospital and rent out our spare room on a Mon-Fri basis to a consultant there to stay in when he's on nights.

I personally wouldn't like the extra washing/cleaning that would come with an AirBnB, not knowing your tenants in advance, not knowing what time they were coming in / leaving / risk of damage.

Honestly, it’s a pain in the backside, people are reeeeeally stupid, and I strongly suspect that local councils are going to be clamping down on them. And the parties. 😬

Run a traditional b&b (sorry “boutique hotel”) by all means, but I’m not sure investing in a hobby Airbnb is really worth the trouble.

I was thinking it might be too much hassle.

Annex is good to rent to someone longer term, e.g. via Spareroom like a lodger - steady income and no risk of ad tenants.

Honestly OP it is a lot of hassle. We did it for six years, and my parents for about 20 years before that (although only some of that via AirBNB of course). You do meet some lovely people but that really depends on the type of place you have (high end, couples - lovely! Big groups, stag parties etc can be a complete nightmare).

It seems like stuff is always going wrong ….everything from a wonky cupboard hinge, to a tap dripping, to the boiler. I think you either need to be really hot at DiY or have someone on tap that is, because getting someone out to keep on top of those little jobs is a right pain. And the stress when you realise something has broken / gone wrong and you have check-ins sue in four hours is like nothing else!

Also I have to say you don’t make as much as you might think you would; of course the money can be really good but once you’ve taken out commission, wear and tear on all your furniture, carpets, etc, replacing broken items and putting something aside to redecorate every few years then it’s not quite the headline figure you’d imagine. You need to keep on top of everything, redecorate more often than you would a normal home because 1) a rental gets a lot more “wear” with people coming and going, suitcases getting dragged against the stairwell wall 2) people look after a place if it’s in great condition; if it’s not then they are much, much less likely to value/ look after it.

Honestly, I’d put your money in stocks & shares and enjoy the zero hassle returns!

I think I’ll invest in a better property for myself and my children.