Residential to airbnb

How come you can't rent it? Posters here are saying there is a housing crisis and its impossible to find anywhere to rent...

Airbnb is super way to let your apartment without the drawbacks of a tenancy, but you have to know what you are letting yourself in for. Read carefully the relevant regulations and consider how they will apply to you. You also have to consider the time taken to clean the property between letting, or the cost if you are paying someone to do it. You can however charge your guests a cleaning fee. In relation to neighbours, I’ve been a host for 5 years now, and know the neighbours, we have never once had a complaint from any of them, so don’t take to much notice of those who will tell you it is a major issue, most guests respect the rules.

All in all, my experience with Airbnb has been very positive, I like the freedom it gives me on that particular property so sell if and when I want, and if the period you can let if for covers your mortgage, that’s the way to go. You probably know this already, Airbnb reports all income on the site to Revenue.

How much you renting it for, i will gladly rent it off you

If you check rent.ie now there are over 5 pages of places to rent only in Dublin 1. That is a lot of rentals available in one spot.

Perhaps this is why you find hard to rent it out.

They said 5 pages. Plus it’s in Dublin 1 so a bit of a dodgy area!

Sorry, I didn’t read your post properly!

If its D1 its city centre so there will always be a major tourist market.

Even if its in a rough part of D1.

How much are you charging in rent and how much is the mortgage per month? I sense you’re probably trying to charge extortionate rent and nobody is willing to pay it.

An indian guy that works with me is looking to move himself and wife from Galway to Dublin.

He was asking me where to rent and I gave him some options with good transport options including Dublin 1.

First thing he said was, what about the riots and violence in the city center? Dublin 1 has been tarnished and that will take a while to wear off.

The market for a rental in Dublin that's longer than two weeks but less than six months is probably fairly small. Your chances of filling the place consistently throughout the year are slim, so odds are you'll get less in the end going that route than you would by just doing a long-term rental at a reasonable market price.

What are you asking for rent? Market rates for a two-bed in D1 would probably range from a couple grand for a place in a seedy location to a few grand for a new build in the Docklands. A lot of new landlords make the mistake of assuming that if the rent isn't at least double their mortgage payment then they're "losing money", which isn't the case; you'll have negative cash flow, but you are still making a profit in the long term via building equity in your property. If you can't afford to sustain that negative cash flow but market rents for a property like yours in that area are not more than double your monthly repayment, then you simply can't afford to be in the landlord business, and you'll need to consider selling instead.

I suspect for many owners who choose Airbnb/short let, exceeding income earned by tenancy is not the only, or possibly even the most important consideration. Not being tied into a tenancy is the main for me as I consider whether to sell.

Why not just hire cleaners that don't require cash so you can write it off? Maybe you are happy to clean it yourself, but I'd rather someone else do it myself.

A few people asked what the rent is?

Are you getting viewings but no takers or no interest at all?

Is it in an ok part of D1 or one that, let's say, could be better?

Basically, if you haven't had any takes in this market, you are asking too much.

Advertised prices are not an indication of people actually paying that for them. Even if they are, 6k for July and nothing for the rest of the year is equivalent to 500 quid a month.