We used airbnb for the first time during a recent trip. For the most part it was great. But, there can be some snags by the renter. We made reservations several months before our trip, and all seemed well. However, our host, in one city, backed out a few weeks before our intended arrival. He apologized and said he “accidently” double booked. The only alternatives left that we could find, were cheap hotels outside of the city, or very very expensive hotels closer to the city. All airbnb’s were taken that would accommodate our family.
We were renting for a short period, and sure enough, when I looked at his website (after our cancellation), the apartment was booked for a much longer period. I’m rather confident he received a better (longer) offer and we were in the wrong slot for it to happen. I can understand last minute emergencies but given the circumstances it seemed unlikely to be an emergency. I called airbnb, and they explained that hosts are penalized when this happens, but there is no way to post such on a review, because you are only allowed to review places you actually used.
All in all it was a great trip, and all the other airbnb experiences were fantastic. Be careful, however, if you are staying in areas that may be in high demand. Best bet is to make a back-up plan that can be cancelled. Two weeks was still do-able for us. I’ve read of many others who have the same thing happen in high-demand areas or events, with much much shorter notice.
We are the beneficiaries of what I consider to be an extremely high rental rate of $3,000 for two nights. We’ve only rented once, but our renter just left a favorable review, and that is the one factor that promotes additional rentals more than anything else. The reason for this high rate is that our house will just hold a lot of people, 12 easily, but 14 to 16 using some twin mattresses that the kids have under their beds. When we bought our house we split the “bonus” room upstairs to create a 600 sq. ft. bedroom for my son. It has a very sturdy full-over-full bunk, big screed Tn, and sitting area with an $8,000 sofa and coffee table set. (They cost $8,000 back in 1989 when my eldest brother bought them! But they still look and sit really nice, even though I doubt we could get $750 for them today.)
The high rent is because a hotel room on a football weekend can cost $400-500 a night. So for six couples, that’s $1,500 per night with four to a room, and not very comfortable at that. So paying a high rent for a large house makes sense under those circumstances. I don’t think we would be willing to move out for two nights for say $750 a night. Too much work and not enough reward!
I have been a guest through Airbnb several times, both in the US and out of the country. Most of those times were renting the entire apartment. All were positive experiences.
I have been a host through Airbnb on a regular basis as well, renting out a room in my own place, while I am typically also there. I haven’t had any significant problems and have hosted people from all over the world and all ages. Most people are very nice and respectful of my home. I get to pre-approve them and we do communicate in advance of their stay. As well, on Airbnb, you can read reviews of both hosts and of guests.
PS…@bookworm I inferred from your post that you visit Cambridge and prefer to stay via Airbnb? Let me know if you ever want to stay here!
I think we would want to do longer terms (at least a week, preferably a month). We live in a big snow bird area, close to the beach, Boca Resort, Mizner Park. We have a heated pool. Our house is remodeled and nice, but not so nice that I’d be afraid to have renters. We raised two boys here so our house is pretty sturdy (knock on wood).
I would want to be able to lock off a storage shed, or something, with our personal effects, personal sheets, dishes, etc. I’d probably permanently strip my house of tchocke and clutter (well, that’s the fantasy anyway).
We thought of doing this and going around the country in an RV for a couple of years. We have done vacation rentals from VRBO and Homeaway, and generally had good luck (being the renters, not the LLs).
I’d have to be very comfortable with the liability side of it. Also, I’d have to research the homestead laws in FL and make sure we don’t jeopardize that. And then whatever city/county ordinance, taxes, etc. apply. Sheesh this already sounds like too much work.
We were looking at Paris apts to rent and were having loads of fun oohing & aahing over some of the stylish digs and wincing over their commensurately “stylish” rental fees.
Some patterns were emerging:
single men live like they never left school
women have nice homes
couples have even nicer homes
You could probably write a anthropology doctoral dissertation on the analysis of ABnB home photos.
A few years back I stayed in the Airbnb apartments of two 30 something men. One, in Vancouver, was to die for aesthetically. The one in Tacoma, was austere, if bright and on the water. The commonality was the refrigerators, which had a few odd ingredients, maraschino cherries and selzer water, or olives and tomato juice. Nothing to keep body and soul intact nutritionally.
When I got married I already had a small house, a very nice little antebellum cottage for which I had paid $48,000. In the olden days DirectTV did not set up your dish for you. I had one in a box sitting in the corner of my den. It had been there for six months, after I bought it from Sam’s Club. After two weeks of marriage and fretting over the satellite dish she finally got a friend to come install it (I had a lot of VCR tapes, so we really did not need it).
She kept going on and on about needing a “bed.” I had a bed. It turns out that she did not consider a mattress and box springs on a bed frame a bed. In her world a bed had to have a headboard and footboard.
Today I live in a much larger home. We have DirecTV with 500 channels. All of our beds have headboards and footboards. This seems to make my wife happy, or happier, anyway.
My S has a much nicer rental than D and much nicer than the rental H and I had as young marrieds. I expect when he decides to buy, it will similarly be very nice. He has discerning tastes and a budget to match. D has taste but no $$$. His place is masculine but very neat and clean.
where is this in the tax code? I am aware of the rule that you can use a rental property for personal use for 14 days a year or 10% of the time the property is rented and the property will still be treated as rental and you don’t have to account for the costs for the personal use (utilities, depreciation, taxes), but I don’t know of any tax provisions that would exclude what is clearly income from taxes, especially with no limit. What if Donald Trump rented out his home for $40-50k per night for 14 nights a year? Are you saying that would all be excluded from income?
Also, is this federal taxes? My friends rent their condo and must pay city and county taxes per occupancy. No exceptions for only 14 days per year.
Do any single older women rent out a room? After hearing about perfume being pinched, I think about my valuables throughout the rest of house. My house is 5 miles from the ocean, so I don’t think I,could get much $.
My sis rented out two different rooms that had separate entrances on her property. It helped them build up enough $$$ so that she could eventually tear down all the structures on her place and build a new lovely large house. She has a H & 3 sons, so she wasn’t a single older woman.
My SisIL rented out the bottom of her townhouse for awhile, to a cousin and his male partner. She eventually asked them to find another place to live, but the remained good friends. She never rented again, prefering to have her entire place for herself. Having the entire downstairs was very handy for us when we visited. That area was designated our guest suite, complete with one bathroom.
