Quote:
Originally Posted by temple5
You have the possibility of making alot more money with AirBnb assuming you can capture the downtown Calgary traffic. With condo fees and management fees you likely wont be revenue neutral with monthly rental income.
AirBnb isnt that much work although I dont know the logistics of a condo rental with door access. We rent a SFH where we have a code lock connected to wifi that we can reset the code after each guest leaves.
With July and August 80% booked and June 30% through Airbnb we are able to cover all the yearly costs with out vacation home. We have blocked off the rest of the dates for our own use. We arent looking to make a profit (just be revenue neutral) as that would affect our tax situation.
The great thing about AirBnb is that it has drastically reduced the number of leaches wanting to use our property for free. Now we simply say its booked via AirBnb even if it isnt  |
We know that we can't make a killing having this place an Airbnb. It's more like to hopefully break even and to have the unit for us if not occupied.
We always wanted a place right downtown in a bigger city. Guess we have to wait and try it out for a year and decide if we carry on after.
Seems like you doing alright, that's great!!