Airbnb approx annual income

superd1978

Hi folks,

I have an empty apartment in Smithfield market Dublin 7, tenants have just moved out. I'm curious on whether I should look at airbnb, rather then getting tenants in again.

The apartment is a very spacious 2 bed, and extremely modern. Also has a parking space. My rent per month would be about 17-1800 per month.

Would anyone have any idea of what I would expect to make annually if I was to take the airbnb route, approx figures?

Any other recommendations around the airbnb business model vs full time tenants much appreciated also 😊

D

Grumpypants

Look up Airbnb and see what other similar apartments cost per night/week. Then work it out at being occupied around 60-70% of the year.

That is roughly what you would earn.

You need to consider that you are changing the type use from residential to commercial so you need planning permission and it is very likely your management company will block it.

superd1978

Grumpypants wrote: »

Look up Airbnb and see what other similar apartments cost per night/week. Then work it out at being occupied around 60-70% of the year.

That is roughly what you would earn.

You need to consider that you are changing the type use from residential to commercial so you need planning permission and it is very likely your management company will block it.

Thanks for feedback.

L1011

As well as needing to cover vacancies on the calculation from other rentals costs, you need to cover cleaning and key exchange as well as vastly higher wear and tear than a long term rental. The figures for short term rental look good but often aren't when real costs come in. Plus the issue that you may need planning permission and often its against your lease with the management company. And more and more management companies are enforcing it now.

jamesthepeach

I let mine via Airbnb with an agency. Its further out from the city center than yours. I did my research as I have many friends and acquaintances doing it who were full of advice.
Not long after it went on Airbnb a company took it at the Airbnb daily rate for the rest of the year and have offered to take it for all of the following years for a one month discount which I am probably going to do.

The cleaning fee is added to let the rental so that's not a problem.
But you do need an agent to take care of it it as you would go mad doing all the meet and greets and cleaning yourself. Lots of.agemts are providing that service now. Ring around.

Mine makes over double what it would have on rental. Yours would probably do better.

Don't worry about the management company or planning. Nothing will happen. If they send you a letter investigate your options then, but you have no reason to worry. But it's unlikely they will even know, that they will even act on it, or that they have any power over you should they decide to somehow punish you. Ignore them, they can't touch you.

Well worth going Airbnb for several reasons.

Far higher rent.
People look after it better because they have a credit card attached to the rental.
No RTB involvement. You maintain control of your property at all timesand can take it back when you want.
No risk of not getting rent or overholding.
Place is clean all the time.
Rent paid immediately.
Hardly any wear and tear when compared to a normal rental. People respect them a lot more than renters do.

The worst part is the amount of work that you have to put in with cleaning and meeting but if you outsource that to an agent and put the agents fee into the cleaning charge too then it's perfect. You don't have to lift a finger then.

Double or more the money and no rent control or RTB involvement that basically takes your property from.you and gives it to the tenant. What's not to like. Try it for a year and see how you go. The beauty of it is that unlike normal renting you can stop straight away if it's not working out for you.

uck51js9zml2yt

I'm staying in an airbag at the moment up north.he has 4 rooms , so 8 people max. He also lives here and his landlord lives next door.
He tells me its non stop, the worst being single nighters as it's a bed change every day.
The plus is a grandstand view of the portrait golf club

superd1978

jamesthepeach wrote: »

I let mine via Airbnb with an agency. Its further out from the city center than yours. I did my research as I have many friends and acquaintances doing it who were full of advice.
Not long after it went on Airbnb a company took it at the Airbnb daily rate for the rest of the year and have offered to take it for all of the following years for a one month discount which I am probably going to do.

The cleaning fee is added to let the rental so that's not a problem.
But you do need an agent to take care of it it as you would go mad doing all the meet and greets and cleaning yourself. Lots of.agemts are providing that service now. Ring around.

Mine makes over double what it would have on rental. Yours would probably do better.

Don't worry about the management company or planning. Nothing will happen. If they send you a letter investigate your options then, but you have no reason to worry. But it's unlikely they will even know, that they will even act on it, or that they have any power over you should they decide to somehow punish you. Ignore them, they can't touch you.

Well worth going Airbnb for several reasons.

Far higher rent.
People look after it better because they have a credit card attached to the rental.
No RTB involvement. You maintain control of your property at all timesand can take it back when you want.
No risk of not getting rent or overholding.
Place is clean all the time.
Rent paid immediately.
Hardly any wear and tear when compared to a normal rental. People respect them a lot more than renters do.

The worst part is the amount of work that you have to put in with cleaning and meeting but if you outsource that to an agent and put the agents fee into the cleaning charge too then it's perfect. You don't have to lift a finger then.

Double or more the money and no rent control or RTB involvement that basically takes your property from.you and gives it to the tenant. What's not to like. Try it for a year and see how you go. The beauty of it is that unlike normal renting you can stop straight away if it's not working out for you.

Very insightful James. Thanks so much for your time

Can i ask what agency you are using or have any recommendations?

Bandana boy

jamesthepeach wrote: »

I let mine via Airbnb with an agency. Its further out from the city center than yours. I did my research as I have many friends and acquaintances doing it who were full of advice.
Not long after it went on Airbnb a company took it at the Airbnb daily rate for the rest of the year and have offered to take it for all of the following years for a one month discount which I am probably going to do.

The cleaning fee is added to let the rental so that's not a problem.
But you do need an agent to take care of it it as you would go mad doing all the meet and greets and cleaning yourself. Lots of.agemts are providing that service now. Ring around.

Mine makes over double what it would have on rental. Yours would probably do better.

Don't worry about the management company or planning. Nothing will happen. If they send you a letter investigate your options then, but you have no reason to worry. But it's unlikely they will even know, that they will even act on it, or that they have any power over you should they decide to somehow punish you. Ignore them, they can't touch you.

Well worth going Airbnb for several reasons.

Far higher rent.
People look after it better because they have a credit card attached to the rental.
No RTB involvement. You maintain control of your property at all timesand can take it back when you want.
No risk of not getting rent or overholding.
Place is clean all the time.
Rent paid immediately.
Hardly any wear and tear when compared to a normal rental. People respect them a lot more than renters do.

The worst part is the amount of work that you have to put in with cleaning and meeting but if you outsource that to an agent and put the agents fee into the cleaning charge too then it's perfect. You don't have to lift a finger then.

Double or more the money and no rent control or RTB involvement that basically takes your property from.you and gives it to the tenant. What's not to like. Try it for a year and see how you go. The beauty of it is that unlike normal renting you can stop straight away if it's not working out for you.

Would this be the same apartment that 5 months ago you got a 40% haircut from the banks
3 months ago you were giving your tenant notice to leave and he was fighting you tooth and nail and was going to cost you a fortune

2 months ago you were selling and getting record bids

1 month ago you sold !

This apartment should write a book it has more excitement than James Bond

jamesthepeach

Bandana boy wrote: »

Would this be the same apartment that 5 months ago you got a 40% haircut from the banks
3 months ago you were giving your tenant notice to leave and he was fighting you tooth and nail and was going to cost you a fortune

2 months ago you were selling and getting record bids

1 month ago you sold !

This apartment should write a book it has more excitement than James Bond

Yes. You are referring to two properties. If you were doing your stalking to a better standard you would would have copped that.

One is sold now and the other was to be sold or on Airbnb but is now let to a company via Airbnb for the moment. I may sell it yet, but there is good money coming from the company that may continue so I'm letting it ride so to speak.

I'll be sure to let you know so you can update your file on me.

hanna200

jamesthepeach wrote: »

I let mine via Airbnb with an agency. Its further out from the city center than yours. I did my research as I have many friends and acquaintances doing it who were full of advice.
Not long after it went on Airbnb a company took it at the Airbnb daily rate for the rest of the year and have offered to take it for all of the following years for a one month discount which I am probably going to do.

The cleaning fee is added to let the rental so that's not a problem.
But you do need an agent to take care of it it as you would go mad doing all the meet and greets and cleaning yourself. Lots of.agemts are providing that service now. Ring around.

Mine makes over double what it would have on rental. Yours would probably do better.

Don't worry about the management company or planning. Nothing will happen. If they send you a letter investigate your options then, but you have no reason to worry. But it's unlikely they will even know, that they will even act on it, or that they have any power over you should they decide to somehow punish you. Ignore them, they can't touch you.

Well worth going Airbnb for several reasons.

Far higher rent.
People look after it better because they have a credit card attached to the rental.
No RTB involvement. You maintain control of your property at all timesand can take it back when you want.
No risk of not getting rent or overholding.
Place is clean all the time.
Rent paid immediately.
Hardly any wear and tear when compared to a normal rental. People respect them a lot more than renters do.

The worst part is the amount of work that you have to put in with cleaning and meeting but if you outsource that to an agent and put the agents fee into the cleaning charge too then it's perfect. You don't have to lift a finger then.

Double or more the money and no rent control or RTB involvement that basically takes your property from.you and gives it to the tenant. What's not to like. Try it for a year and see how you go. The beauty of it is that unlike normal renting you can stop straight away if it's not working out for you.

can i ask what agency you are using of have any recommendations?