Airnb

[mrsaneperson]

Very good points absoluteproperty.

[flyernzl]

You are buying a job, not an investment.

[Wayne]

As was said above - you are in the hospitality business rather than property.

[propertybuyingNZ]

Airbnb is just a tool in your toolset.

Anything can be automated. We probably spend less time managing 4 airBnB's than other investors self manage 1-2 properties.

You can let out a granny flat, phisically separated but not consented section of your house (downstairs with ensuite?) and make twice as much than if it was a legal unit and let on a normal Tenancy.
You don't need to provide kitchen.

Perfect with H&I where you do not want a permanent tenant bothering you 24/7 but don't mind occasional guests staying for a handful of nights.

Perfect if timing is not right to let long term. Best season to let from January? Run it as airbnb from August till Dec then let it out long term.

It is just a tool, you can hate it or love it, it's personal preference really.

[Wayne]

How do you automate the cleaning and washing?
Do you get someone in for that - like motels do?

[newbie investor]

WHich insurance company covers airbnb? Esp for own home. thanks

[Courham]

Not sure about Air B&B but for my bookabach property I used Inito as my regular insurer wouldn't cover it.

https://rentalpropertyinsurancenz.co.nz/

Craig

[newbie investor]

Not sure about Air B&B but for my bookabach property I used Inito as my regular insurer wouldn't cover it.

https://rentalpropertyinsurancenz.co.nz/

Craig

I had a read of the policy. It doesn't cover theft by tenants/guests. I guess if you are renting out rooms in your own personal property, that is a risk that you would want covered. Therefore has anyone got cover from insurers against such risk? Thanks.

[mick51]

I'd be watching out for Airbnb.
I tried to book a room a few weeks ago and found my account blocked. Managed to sort it out, I thought, within a week. I was informed that the account was ready to go and so I tried to log in only to be presented with a page demanding I scan my driver's license and passport.
Am I stupid? This is how identity fraud happens.
No response from Airbnb about this.
My suggestion is be very very careful of this company. If they get you in and then do this to you what are you going to do.............

[sidinz]

Yeah, they started getting stupid. A while ago, they wouldn't let me change my listing unless I 'verified my identity' by connecting my Facebook account to it. WTF!?

Firstly, no way am I dumb enough to let would-be guests see my social media exchanges with friends and family, or open the door to identity theft or advertising tracking. Secondly, anyone can open a FB account using any name. Just how does aligning an Airbnb profile to a FB page prove anything? I tried pointing this out and got nowhere. Do it or bugger off, was their response.

Then they wanted me to create a video of myself introducing myself. Again, WTF!? No, I am not going to humiliate myself jumping through some stupid hoop by making a hokey, unflattering video with a webcam.

[mick51]

You seem to have the same view as I do. I simply could not believe in this day and age that a company would be asking me to scan my driver's license and Passport. Are these morons serious?
The trouble with Airbnb is that you are dealing with half wits in India who have little concept of identity fraud in the west. The top brass in San Francisco should be keeping an eye on their cheap labour in India but seem not to care. And then when you try to contact the American office you get blocked because you have not completed their verification demands.
I'd love to use Airbnb but no way am I going to divulge identity theft information. They can keep their business and I hope it (eventually) goes broke. That would be a fair outcome for negligence and abject stupidity.

[propertybuyingNZ]

Well, I was debating whether even reply further or just let the airbnb thread go out on a negative tone. Meaning less people try this, resulting less competition for us.

But I could not resist.

So, verification in not compulsory. You can use various forms, email, phone, Facebook or govt ID. You decide what level you pick.
Video no way compulsory. We did not bother with that either.

From the other hand, you share your property with a stranger so I guess you would want to know who is coming and if trouble, you can contact airbnb to provide further info on the guest.
And other way around, you stay at a total strangers house so you might want to see that he has provided more verification than just an email.

We have a unit would make $300 a week as a long term let and makes $119 a night on airbnb. Do your math

[mick51]

You are incorrect when you mention the various forms of verification. I was blocked (out of the blue) and it took a week to be 'unblocked'. The reason Airbnb gave was "you logged on with a different device" which was a load of hog wash. I always log on from the same laptop.
After I was 'unblocked' I tried to log on. Then came the poison: the demand to scan in my driver's license and my passport. Now I have no access to Airbnb because I will not comply with the company's ridiculous demands.
Your suggestions above may work for an initial sign up but wait until they do to you what they did to me. After that it's your choice as to whether or not you want to give away all your private information and risk identity fraud. Good luck if you think that is sensible and if you believe that your information is 'safe'. It isn't.

[BigDreamer]

We have a unit would make $300 a week as a long term let and makes $119 a night on airbnb. Do your math

What is the likelihood of having airbnb book ~3 nights a week over the course of a year or 132 nights to exceed a one year fixed term at $300 a week?

[propertybuyingNZ]

What is the likelihood of having airbnb book ~3 nights a week over the course of a year or 132 nights to exceed a one year fixed term at $300 a week?

We have 85% occupancy rate and growing.