Since I wanted to be as passive as possible in my rentals, I decided not to pursue it. It seems like a good options if you can be involved. I think there are some companies you can hire to do it for you too, but never tried it.
Airbnb rentals rarely have more than 50% occupancy. We own one in Nevada…Probably make 20% more than a long term rental…But it is a lot more work and a lot more wear and tear…We use airbnb and Vrbo…they are both greedy Bastards, plus we pay huge TOT taxes at 14% to Douglas county…
I have done many loans for people running AirBnB and yes, they are making big money doing so. The problem at first was that lenders would refinance their properties. So the loan you got when you bought the property was the loan you were going to live with. Recently though I am now able to finance them, the rates are a little higher than a non-owner occupied FNMA loan, but at least they are now reasonable. You can advertise a bed and breakfast on AirBnB. AirBnB seems to be a big win as far as I can tell.
While it could be a few months before it’s finalized, the city council on Tuesday directed staff to explore a deal with San Francisco-based Airbnb to automatically collect a 14 percent tax for any stays booked in Milpitas, and pay it to the city, as standard hotels in the city already do.