“Ninety percent of all millionaires become so through owning real estate.”-Andre Carnegie
Today, the logistics and avenues for real estate investment are continuously evolving in such a way that it caters to almost, every consumer’s demand and convenience. Back then, we saw our rental properties as profit generators and expect our prospective clients to ride us through the tide for at least six months or more. People who are in the vicinity for a short period, however, would have to rely on lodges, bed and baths and hotels. Fortunately, through technology and the influence of the Internet, Airbnb was created. This app allows people to sublet their rental properties for shorter terms while tenants get the satisfaction of living in a place akin to home sans the exorbitant accommodation bill. As a result, a symbiotic relationship is created between the host and tenant in such a way that the host gets short-term profits every time the property is rented out while the tenant has a place to stay for a few days.
However, instead of renting it out for a few days or weeks, you should start considering having it rented out for the long term. Well, if you have an empty unit in Avida Towers Cebu, you might want to consider expanding your Airbnb offering. Here are the reasons why:
1.) You live in the right neighborhood
Not all communities are created the same. There are some neighborhoods that are ideal for cultivating familial relationships while there are those that are ideal for young professionals looking to find their place in the world. If your property is any of two, there is a likely chance that a lot of individuals would be seeking it out. Airbnb provides families and individuals alike a unique avenue to look for a neighborhood that suits their lifestyle should they ever relocate to an unknown city. If you happen to be in the right neighborhood, your listing is a premier pick for long-term lease.
2.) You wish to have more time on your hands
Managing an Airbnb property that has people walking in and out almost every single day can be time-consuming, and if you have a day job, this can sometimes be impossible to pull-off. If such is the case, then you might want to reconsider your short-term listing and offer it for long-term as you would only need to find tenants and that is it—you are done with work. Finding long-term tenants dispenses with the need to update your listing and calendar every day. You would not need to clean and prepare your property every single time a tenant leaves giving you more time to yourself.
3.) You have a second empty home
In lieu of having your second property unoccupied and empty, why not open it up for a long-term rental on Airbnb? It might not occur to you yet, but it could potentially be a profit generator—so, in this regard, do not simply have it empty and sitting ducks. If you do not wish to have various strangers in and out of your home, consider having it rented for the long-term. Not only will this ensure you have a steady income for months at a time, but you would worry less knowing that you do not have different people coming in and out of your property.
4.) You want to be paid on time
An excellent advantage of listing in Airbnb is payments and getting paid on time. Airbnb requires tenants to pay using their credit card which means that rent will be given on time via the service you listed. This is a significant advantage for landlords as it ensures they would not have to worry about clients defaulting on their rental payments.