Airbnb Shortterm Rentals Are Worth Investing In!
Darryl Palmer3/28/2017 8:00:44 AM 9/21/2020 4:31:29 AM
More and more people started a real estate project or company on the side since the economics of short-term rental sites Airbnb, Roomorama and VRBO also appeal to people who do not live in the house or apartment they rent out. This enables all kinds of people, from newbie property owners as well as professional real estate investors, to make a profit from renting out the home.
A short stay rental home will always generate more revenue than a long-term rental home. The following AIRBNB real estate templates are important tools when you proceed with this short rental business and will definitely give you a head start.
This section is dedicated to those who are now more than ready to start with their own real estate business by investing in AIRBNB rental properties. To those who deep down know they can do much better than that they are doing now, or to those that were told: “you cannot do this by yourself”…
Before to go to our offer, we first like to introduce to you some very important wisdom from the legendary investor Warren Buffet. Warren Buffet had given us all advice how and why to invest in (commercial) property. His famous #1 rule was:
“Only invest in things you have an understanding of”
This is a very true, easy to understand, and implement advice. In order to understand you simply need to do a thorough research and calculations first, before going to invest in it. Warren achieves two major critical objectives with this:
This predictability and control are important to obtain and can be achieved by doing a thorough study, in order to make you understand the market. This particular knowledge you acquire of an investment, gives you the incentive when to wait, when to buy, when to hold, when to partner and when to sell.
With control, he refers to the six important components in a successful company, specifically: asset, debt, income, expenses, management and insurance. In the specific case of renting out your home as a short-stay rental home, we can translate the controls to the following 6:
- Control the income by raising rents
- Control the expense because you decide what to buy or fix
- Control the asset because you can sell it or refinance whenever you want
- Control the debt because you are able to arrange the financing
- Control the management because you hire the property management firm
- Control the insurance by choosing the type and level of insurance desired
In order to get predictability and control over your (future) AIRBNB rental property, we created the following templates for you:
The following real estate investment calculator, who is specifically suitable for small or medium size condo’s that can be easily rented out on AIRBNB. This specific AIRBNB Investment Calculator sums up all the known, and unknown (!), variables that you have to take into account before you actually do the investment. This AIRBNB Property investment calculator obviously helps you a lot into getting predictability and control over you’re: income, expense, which is highly important, especially the first time you do this.
The following AIRBNB real estate templates are applicable when you bought your real estate or started to rent out already, and looking for additional services, registration tools or just some extra protection:
This simple agreement helps you to structure the deal with your AIRBNB tenants, and provides extra security and protection:
The following AIRBNB email messages template provides you with effective answers that you can send to the host in case of a booking or cancellation:
In order to get control over your property management firm, you can use this template to make sure they are actually doing the work you agreed with them, which is, for example, cleaning the home after a tenant left:
We hope you appreciate these templates and our work creating or finding them for you. Share it if you were happy, good luck with your future projects and you are always welcome back to us for more advice regarding short-term property rental or other business templates!