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Thread: AirBnB Hosting - Tips, Tricks and Help

  1. #21
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    Interesting - I'm surprised that there is as much negative in here as there is. We decided to give it a go and our listing went live this week. So far, we've got nearly all of April booked (minus a weekend) and that in itself, totally blew our mind. As it stands, for the rest of April, our take home is $2300 (after cleaning costs) and assuming everything goes smoothly.

    Our place is a one bed, one bath downtown and we made the decision to furnish it from kijiji/fb marketplace in hopes of getting it all done for under 2k. We went over budget by $180 because we wanted a proper smart tv and keypad door locks. So, for the first month it will be a wash to recover those costs, but if next month goes the same, we will make more than what our costs are for the unit by approximately $1000.

    The only thing that i'm still struggling with is a cleaner. We've got two in our pocket, but someone suggested having three in rotation in case someone can't attend.

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    Damn, what building is that in? Am I reading that correctly, that you're to expect +$2,300 net?!

    Realistically, if your place was furnished as it is now but with a long-term renter, what is the differential net income between conventional renting and AirBnB?
    Ultracrepidarian

  3. #23
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    Quote Originally Posted by msommers View Post
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    Damn, what building is that in? Am I reading that correctly, that you're to expect +$2,300 net?!

    Realistically, if your place was furnished as it is now but with a long-term renter, what is the differential net income between conventional renting and AirBnB?
    $2300 is how much we will get paid from AirBnB for the rest of April, after we pay the cleaners. Our actual costs for the unit including condo fees, insurance etc is $1100. So, this month - our retained will be $1200.

    For the area, comparable units are renting for $1100-1200 a month. So, for us - this is worth it. Now - keep in mind, we are only doing this for three months to see if we like doing it or if it's too much of a hassle. After three months, we have a family member moving in. If this keeps up and isn't a total disaster, I could see purchasing another one just for AirBnB.

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    Still excellent numbers. Hope it works out for you!
    Ultracrepidarian

  5. #25
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    I have a condo in the keynote that I rent out to a guy that exclusively uses it for Airbnb.
    No damage so far and the unit still looks great. I do have the rare occurrence where I get fined for someone smoking pot in the unit or something but I forward off to the renter and he pays it the next day

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    Quote Originally Posted by Asian_defender View Post
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    I have a condo in the keynote that I rent out to a guy that exclusively uses it for Airbnb.
    No damage so far and the unit still looks great. I do have the rare occurrence where I get fined for someone smoking pot in the unit or something but I forward off to the renter and he pays it the next day
    Does he ever mention if its profitable in keynote? I know one other guy who Air bnb's his condo in keynote and says he does quite well.

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    Did some R/E photos for a guy who owns 2 or 3(?) AirBnBs now in Vetro. His only wish is he could have more...
    Ultracrepidarian

  8. #28
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    Quote Originally Posted by pf0sh0 View Post
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    Does he ever mention if its profitable in keynote? I know one other guy who Air bnb's his condo in keynote and says he does quite well.
    Its profitable for sure, especially if you already have the superhost status or your on Airbnb plus.
    I would say he makes between $400-$1000/month profit after all his expenses. I don't have the patience for it or I would be doing it
    Bonus for me is that I get the Airbnb protection policy and his damage deposit so it feels like I'm double insured. Never had to use either of them as he takes care of any issues in there. Probably wants to stay on my good side as he's making some good money on it

  9. #29
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    It's been nearly a month of doing AirBnB for us and so far - we are beyond happy with the outcome. All the tenants have been great, left the place in good shape, no complaints from neighbors and we made more than we anticipated.

    The one thing that I feel will make our break your experience as a host, is a great cleaning crew (if you're not doing it yourself). They need to know to refill items, pay attention to damages etc. If this isn't done, it's easy to have an upset guest.

    We are so happy with how this went, we are currently looking at purchasing another condo for this purpose exclusively.

  10. #30
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    Great to hear that it's going well.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

  11. #31
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    That's really great to hear!

    Just did some photos for a couple in Keynote -- they now have two units after doing the first one for almost 4-5 years. That area seems key. They purchased a smaller 1 bedroom for 290K up on the 20-something floor and said that was an amazing deal.

    Thinking I should get my Mom in on this, certainly a good time to buy a condo anyways.
    Ultracrepidarian

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    Have to assume that rental prices will go down as all these new units hit the market.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

  13. #33
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    Hey guys, I had been an airbnb host for 2 years ("superhost" for half of that time).
    Most of the ppl here mentioned the good side, so I won't get into that.
    Disclosure: my place was 2 bedroom basement with kitchen, about 7 min drive from downtown, so it was a family oriented place.

    Here is some issues I've had:
    - the tourist season is April-October (the majority of guests are National parks' visitors), you make more in those months, but it's very slow after that. I did hope for skiers but Calgary is too far away.
    - you are half legal OR illegal. If you rent out a place short term it's a big deal for insurance. Unless you have it in writing with them, they will reject your claims. The short term is a high risk for them, so connect the dots...
    - insurance from Airbnb is a joke, google it. It's their marketing line "You are covered!", but good luck trying to get anything from them. Or try to get anything if the guests don't want to pay voluntarily.
    - Airbnb favors guests because they get better cut from them, so hosts usually eat the loss.
    - technically you can refuse to accept guests with bad reviews, but your rating will go down, so you pay in the long run. As soon as you clue in, you start accepting everyone.
    - Airbnb is very popular, so "professional guests" do exist already, they will make your life a nightmare ) don't ask me how I know.
    - there is a looot of Airbnb places in big cities like Calgary, so you have to lower your price to stay competitive.
    To sum it up, It was two fun years of meeting new people and learning new thing, but it was exhausting at the same time. When I got my long term tenants again, I realized how much simplier life could be )))

    This is my experince, yours could be much different. Good luck!
    Another thing I got out of it: when I travel, I only use Airbnb now. It's much cheaper than hotels, but my host experience helps me to stay out of trouble as a guest
    Last edited by Russian; 04-28-2019 at 02:54 PM.

  14. #34
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    Perhaps it’s the areas I’m looking or that it’s just 3 of us but I’ve found every time I look at hotels vs Airbnb, airbnb is usually on par or more expensive, but Airbnb charges a cleaning fee and it puts it more expensive

    Places I’ve looked recently are Orlando and various cities in Hawaii

    The Airbnb places that I find which are cheaper look like dumps

    Now turo... easily 2x the cost of a normal car rental
    Last edited by adam c; 04-28-2019 at 03:54 PM.
    Sig nuked by mod.

  15. #35
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    Quote Originally Posted by adam c View Post
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    Perhaps it’s the areas I’m looking or that it’s just 3 of us but I’ve found every time I look at hotels vs Airbnb, airbnb is usually on par or more expensive, but Airbnb charges a cleaning fee and it puts it more expensive
    Again, maybe after my host experience, I know what to look for and little tricks, but my family and I did Airbnb in Whitefish, Yellowstone, Hawaii, Costa Rica, my wife stayed in London UK. If not Airbnb I would not be able to afford most of those places. I always check hotels first, and Airbnb usually comes out about half of that... Hotels do have own advantages, but it comes with a price.
    Traveling with 2 kids, I always get a place with a kitchen, so we can cook and save on dining. Hard to do that with hotels.

    Yes, there is different levels of Airbnb and you can get it dirt cheap, but end up in a swamp. That's why you always read reviews (it's pretty hard to fake reviews on Airbnb). However, let's talk hotels too: if you don't read reviews in Calgary you can end up in NE ghetto, but the room will be cheaper.
    Hey, no offense to people that live in NE (like myself )
    Last edited by Russian; 04-28-2019 at 07:23 PM.

  16. #36
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    In Europe, a lot of places on AirBnB, especially in Paris, were complete shit for the price of much nicer hotel rooms. Definitely can find some gems in smaller towns though!
    Ultracrepidarian

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    We caught up with our friends that were running AirBnB at their place and they are no longer doing it and also went with long term rent as per the points that Russian mentioned.

    We have booked AirBnB for an upcoming trip to Vancouver and what I've noticed is that most of the places that we were interested on are owners actual homes. Seems like they rent their place out and they just end up staying someplace else.

  18. #38
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    Quote Originally Posted by msommers View Post
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    In Europe, a lot of places on AirBnB, especially in Paris, were complete shit for the price of much nicer hotel rooms. Definitely can find some gems in smaller towns though!
    Have not been to Paris myself but had family stay in an AirBnB there recently and they also said the place was by far the worst AirBnB they stayed in on that particular Europe trip. Looked good in the pics and had good reviews, so there is only so much you can do there I guess. For whatever reason, Paris seems to be particularly bad.

    Literally everywhere else I've stayed in AirBnB's in Europe though were unbelievably nice, brand new or newly renovated apartments/homes close to city centers in Budapest, Vienna, Salzburg, Prague, London, all over Scotland and they were all dirt cheap around $100 CAD/nt. Vienna might have been a bit more, $150 or so. I'll never stay in a hotel again if I can help it haha.

  19. #39
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    Just booked 4 AirBnb units for my Euro trip, all super hosts, excited for it.

    We should consider creating a new thread for AirBnB stays and update as we go along? Or too much work
    Originally posted by rage2
    Shit, there's only 49 users here, I doubt we'll even break 100
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  20. #40
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    Quote Originally Posted by max_boost View Post
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    Just booked 4 AirBnb units for my Euro trip, all super hosts, excited for it.

    We should consider creating a new thread for AirBnB stays and update as we go along? Or too much work
    Stayed at this place in Saskatoon. Host lied having 2 bathrooms. Splitted the cost with someone from work, the two bedroom doors you see can see into them, not fun when you need some peace time after work from your coworkers.

    They stayed “tv” but the tv wasn’t connected to anything. No cables etc. So when I asked the host about it. All she said was oh if you have a Netflix account, you can plug it to lay on the tv. (Not a smart tv in the year 2017, so i’d still need the correct converting cables to make it work.)

    This was my actual pillow case too, cause I yielded the master bed for the friend/coworker, while taking the twin size bed kids room. Went back to hoteling, individual rooms after the prepaid few days ran out.






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