Have you considered renting your home short-term but don’t know if it’s a good idea or not? Curious to know how much you could make doing it? We’ve found this awesome tool to help you do just that. Scroll down for my testimony of renting my own home short term!
Many of you have asked my experience with renting through sites like AirBnB, VRBO and Homeaway – so here it is! I originally bought my Little Brick House (LBH) in October of 2015. It’s a small 2 bed/2bath that needed a lot of TLC. I used a rehab loan to renovate the kitchen and flooring, bring some things up to code and move the washer and dryer out of the kitchen. The next year I used some savings to renovate the bathrooms and update few other minor details. I lived in the LBH for over a year but then wanted to try renting through AirBnB to the Spring Training crowd since the house is a mile from the SF Giants Stadium. My plan was to move out for six weeks to rent through the season, just to try it and see if I got any bites.
And I got bites. So many bites. I got inquiry after inquiry and reservation and reservation. They kept coming for later into the year, all for different reasons. Phoenix Open visitors, Spring Training go-ers, traveling nurses, people doing renovations in their own homes, people visiting others at Mayo Clinic or Phoenix Childrens Hospital, and many, many other life happenings that cause people to need a short term rental.
I never have moved back into the Little Brick House but the beauty of still having a short term rental that you can “turn on and off” is that when I do need it, it’s there for me. For example, we’ll need to move in this summer while waiting for our new renovation to be complete but have sold our other home. And this fall while we have friends and family in town for our wedding, they’ll have a place to stay!
If you have the ability to rent out a home, or a space in your home – but don’t want to commit to a long term rental… click the link above. You would be surprised how much money you’re able to make from doing so. In many cases (mine included), you can make MORE MONEY short term renting rather than renting with one long term renter.
YES. It’s true.
If you’re interested in buying your own version of the Little Brick House in Scottsdale or anywhere in the East Valley – email me at RealEstateInRealLife@gmail.com and we would love to help you through the investment buying process!!
Until then, just love life.