Why you shouldn't get into AIRBNB this year?
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- Опубліковано 16 лип 2024
- Are you planning to invest sa properties to get into the Airbnb business? I think you should think twice this time for the following reasons....
00:21 Market Change
1:23 Inflation & Interest Rates
2:54 Strict Policies of Developers + Home Owners
3:53. High Costs & Expenses
4:37 Alternatives
So true Chris.l have friends who invested heavily in AirBNB but experiencing significant dropped in occupancy,even though theirs are considered "higher ends".
D only good news ,they coughed out their own cash to set up d AirBNB ,but wondering how long they can sustain ,though zero loans .
Great content as always! Thank you Chris 🙌
Great insights and factual ,Chris .Cheers 🙏🙏🙏👍👍👍
Great content sir! Hope you’ll expand your content to podcasts. 🙌
Great Content Sir!
Add to this the new regulations of paying more taxes and register the rented apartments to authorities and pay registration fees which at the end is not worth it really to rent, as the rent fare has to be increased hence less guests are interested.
Thankyou po, great help
So far okay naman c AIRBNB for me since my listing unit was only a shared room.
and its about 60% occupancy rate..
100 🎉
As a condo owner what better way to rent the condo Unfurnished? Semi or Fully furnished ? what are the pros and cons ? thanks
I prefer unfurnished because most tenant prefer their own furniture, plus your initial cost will be less and you don't have to worry if your appliances and furniture will be damaged:)
Sorry but some of your reasoning for avoiding Airbnb is non starter. 1) Putting up a theme and maintaining interior are the same whether long term or short rental. Good luck finding a long term tenant on a bare unit. Chances are 75% of unit owners have the same strategy. Beside it baffles me how can someone afford 5+ Mill property and not willing to shelve out 200-300k for minor makeover. If they're not doing it, there goes their first mistake - letting it stagnate 2) What some other platform other than FB (or IG) that lets you keep 100% rental? Booking, Agoda, Expedia, Vrbo all take cuts more than Airbnb. I wish there's an alternative but so far none. 3) Cost of cleaning and energy usage has to be factored in your nightly price - again study amd research this aspect very well please. Bottomline Airbnb, like all business ventures, reaps reward if you know what you're doing. Join FB groups to gain more knowledge. Watch YT vidoe tips. Avoid Airbnb if don't have the patience to deal with the extremes of human character. If all fails, the nice interior you built can get you a good price for long term tenant.
Hi Sir Fred, thank you for your comment. To clarify some of my points -
1) Putting up a theme and maintaining interior are the same whether long term or short rental. Good luck finding a long term tenant on a bare unit. Chances are 75% of unit owners have the same strategy. Beside it baffles me how can someone afford 5+ Mill property and not willing to shelve out 200-300k for minor makeover. If they're not doing it, there goes their first mistake - letting it stagnate
----- Based on my experience, maintaining an Airbnb unit is more difficult compared to our long-term rental unit. The reason I say this is because of the frequency of tenant turnover, we have to regularly clean, disinfect, and change linens.
-There are actually tenants for long-term rentals who prefer unfurnished units. Probably not in your area.
-Yes, it baffles me too that some can afford a 5M property but cannot shell out money to improve. Though I also understand,most investment properties here are under bank loan. If interest rate increases, budget tightens and profit margin suffers.
2) What some other platform other than FB (or IG) that lets you keep 100% rental? Booking, Agoda, Expedia, Vrbo all take cuts more than Airbnb. I wish there's an alternative but so far none.
- I wish that too, Sir.
3) Cost of cleaning and energy usage has to be factored in your nightly price - again study amd research this aspect very well please. Bottomline Airbnb, like all business ventures, reaps reward if you know what you're doing. Join FB groups to gain more knowledge. Watch YT vidoe tips. Avoid Airbnb if don't have the patience to deal with the extremes of human character. If all fails, the nice interior you built can get you a good price for long-term tenants.
---- Correct, Sir. Costs and expenses should be factored into your published rates. However, the main point of my vlog is the surging interest rates and inflation in the Philippines, which may negatively affect your profit margin, especially the ones planning to enter Airbnb business this year.
Sir walang laman yung mga computations. Blank space sila
Ohhh oo nga, thank you for noticing😉