Rent/Air BNB

[fredandfrank]

Hello,

I am looking for some advice. my living situation is changing and therefore I am left with my current property which I could either be rent out or Air BNB. It is in a desirable area for stay cations and a well sized property. However I do work full time and would be looking at cleaning and managing it myself.

I'm looking for pros and cons and peoples experiences please :)

Thank you!

I've got friends who turned their 'granny flat' into an air bnb in the spring and although they are loving the extra money they are not sure how much longer they can manage. They both work full time and are struggling with the cleaning during busy period, luckily the husband WFH with a flexible employer so he is able to do it during the week but it's still an hour of his day gone that he has to make up in the evening.

As the income was more than they expected they now pay the max fee for air bnb to manage it and wanted to outsource the cleaning but have been unable to get a cleaner as it's not regular hours!

Based on that I would rent but that does also come with its issues... I also think morally renting to a local couple/family is better than holiday makers.

Also if you end up going for long term renting then there's a lot of research to do first!

You need a btl mortgage to Airbnb - do you have one?
There are restrictions in many areas. Have you checked yours? It’s 90 days a year in mind but banned in ex La and many private blocks

Or a btl mortgage to rent it out

I’ve rented out a holiday home and it’s a lot of work. Consider your area, how long would people stay for. It might be better to do a weekly rate so you can do the changeover yourself. Where I am holiday cottage cleaners are charging £20 an hour then you have to get the linen done and also contemplate realistic bills. Expect heating on max etc.