Despite how the pandemic has adversely affected the economy, Airbnb investing is still proving itself as a lucrative strategy. According to recent data, hosts have earned in excess of $110 billion with these investments. As a property investor, Airbnb properties aren’t the only real estate investment strategy out there. There are other traditional real estate investment options to choose from as well. However, there are 6 advantages of this investment strategy worth noting:
6 Advantages of Airbnb Investing in California
- Airbnb investing enables you to avoid normal tenant laws –Once a tenant is in your home for over 30 days, there are a slew of tenant protections laws that become protected by that can make it difficult to get them to leave. This is avoided with short term rentals.
- Airbnb investing enables you to use your vacation home as you see fit – although you don’t want your personal agenda to fuel your property investing efforts, having the ability to use your investment property as your vacation home is an attractive option. All you need to do is block out the dates on your rental calendar.
- Airbnb investing gives you more control over your property compared to more traditional renting – while your expenses may be higher and it requires more work on a regular basis, managing the preventative maintenance is often easier. Since you’ll be welcoming new guests more frequently, you’ll know about any maintenance issues or problems sooner. This gives you more control over your rental property.
- Airbnb investing is a good passive income source – along with other vacation rental platforms, Airbnb has become an extremely popular source of passive income for many real estate investors. Although it involves hard work and preventative maintenance, it is still one of the better investment strategies where short-term rentals are concerned. If you are looking to invest in a property for rental income, check out this option.
- Airbnb investing is more lucrative than other types of real estate investments – you can generate more profit than you can with traditional real estate investments because you can charge guests more per night. In fact, when you compare Airbnb properties to long-term, unfurnished real estate rentals, you can generate up to 2 or 3 times the income.
- Airbnb investing offers more choices when it comes to attracting certain types of guests – as an Airbnb host, you can be more selective about the types of tenants you want to attract. As a landlord of a rental property, you don’t have this option and have to market your property to the general population.
Contact Granite West Funding today!
For additional information regarding Airbnb investing call Granite West Funding today at (559) 540-2275. Our experts are available to discuss more about lending and mortgage information and can help you invest right. Call us today!