I was wondering how so many hosts have so many properties and years with Airbnb, are they most likely sub leasing? Also is sub leasing difficult to do I mean find properties that can lease to lease, cause seems to be profitable at some point.
Sub Leasing with Airbnb
DEvok on 13/10/2023 - 09:40
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What does the lease say?
I think the "host" is an agent that charges a fee to to the owners for doing all the work.
They're not normally subletting, they're agents for someone else.
I was wondering how so many hosts have so many properties and years with Airbnb, are they most likely sub leasing?
I speak to random people around the apartment building I live in in the CBD and quite a few have said that they're renting the apartments in the regular way (through an agent) but subleasing it out to make more money via AirBnB.
I've never actually asked whether they tell the real estate agent that they'll be sub-letting because, well.. it's none of my business.
It works. Until pandemic and quite a few of these sub letters went bust.
Problem with Airbnb is you're held by the balls by Airbnb for short term lets and you got long term 6 month - 12 month contracts with letting agents. Basically you're doing small scale WeWork.
Good when going is good.
AirBNB is responsible for ruining entire housing economies and should be abolished.
Their original idea (AirBNB = Air Bed and Breakfast) is no more and it's just a money grab that destroys communities.
It's like Uber. Try not to use it.
Sub letting is also a pretty risky business. You have a fixed cost/contract but no certainty of revenue.
Welcome to how the rich get richer.
Step 1: Buy up all the properties.
Step 2: Lease property back to people who would usually buy said property.
Step 3: Play the victim when interest rates go up and people stop letting at exorbitant prices.
A relative AirBNB’d their rented apartment on the weeks they weren’t using it. Worked for a while then they got evicted.
maybe, maybe not