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Thread: Airbnb as opposed to BTL

  1. #1
    Master
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    Airbnb as opposed to BTL

    I know weve a few BTLers on here, so heres a question.

    Bit of background first. A month or two ago I had been out to view a cottage in my local area that popped up for sale.

    Nothing special two bedroom, very small, needed modernising and had a few signs of damp (old stone construction) but a perfectly good project and very convenient to town, literally a 2 minute walk. I bid 77k or thereabouts but was knocked out of the bidding at that point.

    Thought no more of it, but fast forward to the weekend and I was out with the same agent and asked her about the previous house. She looked it up on her phone and said it went for 94k, with two Airbnb people slogging it out to purchase it. I was able to glean that these guys have a portfolio of these, all on Airbnb.

    Now, we live in an unremarkable town in middle of Northern Ireland, no tourism really to speak of, though I suppose if you were doing a tour of Ireland you may pass through at some point.

    This has naturally perked my interest and Im wondering if Im missing something, so my question anyone here Airbnb-ing a property rather than just renting it out?

  2. #2
    We have a 2 bed flat that we rent out to students at a local university, 1,000 a month, Ive just found out a few are up for 100 a night Airbnb, we have a lot of foreign students here so I guess its there family when they come over.

  3. #3
    Master
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    I can see some merit in that, youd have to weigh up the difference in revenue and see which was best of course but youd have some confidence of getting it rented out.

    As much as I love where I live I cant imagine why anyone would want to come and stay here for a few days, as a tourist or a traveller.

  4. #4
    Master
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    Funnily enough I read this article today https://www.wired.co.uk/article/airbnb-scam-london

  5. #5
    Journeyman
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    Its strange whenever I advertise a property for rent, I'm always approached by people wanting to rent it at higher than I've asked for,when I question this they always reply that they want to air bnb it and am I ok with that?
    Obviously it sounds to good to be true and that's why I've never gone for it but maybe there is money to be made?
    Although the way the rental market is going we may need all the help we can get

    Sent from my SM-G960F using TZ-UK mobile app

  6. #6
    Airbnb is gathering momentum with landlords as is rent to rent:

    https://www.progressiveproperty.co.u...ent-explained/

  7. #7
    Quote Originally Posted by reecie View Post
    Funnily enough I read this article today https://www.wired.co.uk/article/airbnb-scam-london
    Quite a long read but very interesting. Wonder what will be done of it. That planning officer should be in a disciplinary immediately.

  8. #8
    Master
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    Quote Originally Posted by reecie View Post
    Funnily enough I read this article today https://www.wired.co.uk/article/airbnb-scam-london
    I read that too. I suppose where there is opportunity there will always be chancers

  9. #9
    Master
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    By coincidence I have just had a house in a nice village in NI come to the end of a residential lease and was considering trying it as an air b and b. Would be interested to hear any advice from TZ'ers.
    Btw @ demon, yours is a very central spot for Donegal and Sligo as well as NI ( I used to date a local gal ) so could be a good location for a FHL.

    Sent from my SM-G920F using Tapatalk

  10. #10
    Master
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    Im attracted by the option but need to look at building insurance issues and find an agency to deal with keys and turn round. Linen and cleaning.

  11. #11
    Master
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    Quote Originally Posted by Montello View Post
    Im attracted by the option but need to look at building insurance issues and find an agency to deal with keys and turn round. Linen and cleaning.
    Luckily I live half mile from the property and only work one week in 3 so should not be too onerous to clean and do linen etc. Must look into the insurance thing esp PLI aspect.

    Sent from my SM-G920F using Tapatalk

  12. #12
    Master
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    Edinburgh is on the verge of passing a lot of legislation over AirBnBs.

    Have to say I'm not surprised. We changed our flat in Edinburgh from rental to AirBnB a few years ago. It made almost 1000 p.a. more than as a rental, with almost none of the legislative downside of a sitting tenant plus we could let friends/relatives stay there at any time by refusing a booking.

    We sold it a while ago now, but if these kind of figures can still be replicated in areas with high tourist trade then it's a no brainer.

  13. #13
    Master
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    Quote Originally Posted by Scepticalist View Post
    Edinburgh is on the verge of passing a lot of legislation over AirBnBs.

    Have to say I'm not surprised. We changed our flat in Edinburgh from rental to AirBnB a few years ago. It made almost 1000 p.a. more than as a rental, with almost none of the legislative downside of a sitting tenant plus we could let friends/relatives stay there at any time by refusing a booking.

    We sold it a while ago now, but if these kind of figures can still be replicated in areas with high tourist trade then it's a no brainer.
    1000pa or pm?

    I have to say all the faff of tenants AirBnB seems attractive but I suspect legislators will soon catch up and spoil the party.

  14. #14
    Master
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    Quote Originally Posted by Montello View Post
    1000pa or pm?

    I have to say all the faff of tenants AirBnB seems attractive but I suspect legislators will soon catch up and spoil the party.
    P.A. One bedroom flat which closes the market down quite a bit - we could have put a sofa bed in but never got around to that. Zero extra advertising outside AirBnB. Occupancy was reasonable, but as expected most money is during the Hogmanay and Festival periods. Good flats in city centre locations can make as much as double what a normal rental would achieve.

    I don't think it'll be too long before most local councils in affected areas pass a raft of laws - some areas in Edinburgh are very dense with AirBnB affecting the neighbours badly.

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