I Bought An Apartment To Rent Out On Airbnb • Hacker News Board

Re: I Bought An Apartment To Rent Out On Airbnb

#151

Post by ronaldx » Fri, Nov 01, 2013, 9:15 PM UTC

petercooper wrote: post #4

It’s possible to find a nice apartment in a major city for less than $50,000. The place I found was in Las Vegas and it cost $40,000. Wow, I had no idea things were that good/bad. Here in the UK, I deliberately choose to live in a cheap part of the country and you'd still be talking $120k or so for an equivalent 1 bed flat. This really illustrates to me why efforts to turn various areas in the US into "mini Silicon V…

Several aspects you may want to consider on UK vs US:

- the population density of the UK as a whole is about 7x greater. The US has really got a lot of space that could still be built on.

- there is limited reason to live in Las Vegas unless you work in hospitality (although there has been a recent boom- and bust-cycle).

- housing market tends to be more divergent in the US than in the UK: it's more likely you can find some city that's relatively cheap.

Re: I Bought An Apartment To Rent Out On Airbnb

#152

Post by acuozzo » Fri, Nov 01, 2013, 9:16 PM UTC

I still don't "get" Airbnb. How can anyone be comfortable letting a complete stranger into their home?

I'd freak out if someone were to start fiddling with my electronics, perusing my Laserdisc collection, etc.

Re: I Bought An Apartment To Rent Out On Airbnb

#153

Post by apierre » Fri, Nov 01, 2013, 9:18 PM UTC

I wish I could do the same in London. But in that price range, I can only rent out a closet.

Re: I Bought An Apartment To Rent Out On Airbnb

#154

Post by mbreese » Fri, Nov 01, 2013, 9:18 PM UTC

bradly wrote: post #145

mbreese wrote: post #108

If anyone is interested, this looks like the link to the place: https://www.airbnb.com/rooms/643721 Another thing to add to the "if you're thinking of doing this" list - don't write a post about it where you and the location can be identified. This is probably against the HOA agreement (short term leases are prohibited). It also could be a safety issue if you aren't actually living there. Once someone knows the apart…

I recently bought a condo in Maui to rent and those places are sent up for this sort of thing. They even call them Condotels. Being designed for short term rentals brings a lot of benefits like resort manages check-ins/outs for you. Also, there is an echo chamber in the tech community regarding AirBnB as the standard for short term rentals. From my experience, VRBO has been much better and provided significantly more…

But the difference is, you bought something where short-term/vacation rentals are one of the main purposes. Your condo was designed so that it could be used as a short-term rental. You are working within an established business model.

Many dedicated AirBnB locations are supposed to be strictly residential with longer-term leases.

Re: I Bought An Apartment To Rent Out On Airbnb

#155

Post by ubernostrum » Fri, Nov 01, 2013, 9:19 PM UTC

flycaliguy wrote: post #84

_pmf_ wrote: post #62

Earlier quoted context omitted.

It's a bit sad that you have to explain this to grown up people.

Buddy just asked a question that solicited an informative answer for all of us to read. Not sad.

The general "sad" for me is that HN has so many strong libertarian types who start from an assumption that government regulation is practically always wrong and done for corrupt purposes. Learning that this is not the case is a lesson one could easily pick up much earlier in life, so it's sad that they made it this far without understanding that.

Re: I Bought An Apartment To Rent Out On Airbnb

#156

Post by gaius » Fri, Nov 01, 2013, 9:20 PM UTC

icelancer wrote: post #144

gaius wrote: post #99

Earlier quoted context omitted.

Because people don't behave in a hotel as they do at home - they're on holiday after all, so they might come back late drunk, they might want to party, they might make a mess in the hallway. Different people, every night. An unlike an owner, they could be anyone, or bring anyone with them. Basically, you are externalizing all the downside onto your neighbours, while pocketing the upside. It is no surprise that AirBnB…

Downvoted for the unnecessary nationalistic swipe.

I could be American myself, for all you know.

Re: I Bought An Apartment To Rent Out On Airbnb

#157

Post by apierre » Fri, Nov 01, 2013, 9:21 PM UTC

jongold wrote: post #129

petercooper wrote: post #4

It’s possible to find a nice apartment in a major city for less than $50,000. The place I found was in Las Vegas and it cost $40,000. Wow, I had no idea things were that good/bad. Here in the UK, I deliberately choose to live in a cheap part of the country and you'd still be talking $120k or so for an equivalent 1 bed flat. This really illustrates to me why efforts to turn various areas in the US into "mini Silicon V…

I live in London. I'm looking at >$600k for my first apartment. Jon's apartment in Vegas would be a small fraction of my deposit. Ugh, I feel sick. And need to move.

I feel your pain.

Re: I Bought An Apartment To Rent Out On Airbnb

#158

Post by bayesianhorse » Fri, Nov 01, 2013, 9:21 PM UTC

Sounds risky. Four years is a long time. The price of the property can fall sharply, cities might decide they don't want "commercial" one-room hotels, and finally a renter might wreck the place or sue you for something.

Yeah, I know, reputation system, rare chance, but rare chances is the kind of thing you often don't want happening to 60K investment!

Re: I Bought An Apartment To Rent Out On Airbnb

#159

Post by rubyrescue » Fri, Nov 01, 2013, 9:22 PM UTC

conanbatt wrote: post #111

rubyrescue wrote: post #8

That's roughly a 25% annual return. nice. We're renting out our place in Buenos Aires. We're clearing 10% return and I use it when I go back there to meet with the team. Stays about 80% -90% full, great location. Guests love it. My wife (who doesn't work full time) manages it remotely. It's been a very positive experience and my takeaways are similar to the writer's. It's not passive income, but it's steady...

Would like to know more about this as an Argentinian! Airbnb prices are so steep in buenos aires, how does it make sense for tourists? Even Zonaprops has way cheaper places for weeks and such. In argentina Airbnb is not going to get regulation issues ever.. Would you mind if i gave you my email? Plus we might know each other already.

Sure my email is in my profile... it's $110 US/night but 4 can stay. Cheaper than a hotel and separate bedrooms. So compared to a hotel, way cheaper. Also, safer than zonaprop or BYT where you have to show up w/$700 cash for a week PLUS $700 deposit. Then they argue w/you about the deposit, etc...

Re: I Bought An Apartment To Rent Out On Airbnb

#160

Post by wavefunction » Fri, Nov 01, 2013, 9:22 PM UTC

Symmetry wrote: post #115

_pmf_ wrote: post #95

Earlier quoted context omitted.

There's nothing US specific about zoning laws. They most probably preceded the founding of your silly colony.

The first modern zoning was in 1916 in New York for height related reasons. Great Britain didn't start zoning until 1947. EDIT: I was sort of surprised that was the first zoning, when I just looked it up. I always mentally associated zoning with 1920s progressive social engineering.

HAHA, take that ole Blighty!

But really, the whole idea that AirBNB should be able to ignore established zoning is another example of why I consider the "sharing" economy to be the "taking" economy.

Sharing space peacefully is exactly what zoning is aimed at.