It takes several months, during which the tenants know they are being evicted and generally do tens of thousands of dollars worth of damage to the property on top of the court costs and fees for the eviction itself. Where I live, if long term tenants (not AirBnb renters) damage a property, move a bunch of extra people in, or stop paying rent, the process to evict them is lengthy and expensive.
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Sometimes a good long-term hassle free tenant is preferrable to short term bookings in whole houses with off-site hosts, where you can actually have nightmare guest scenarios, as you can read about extensively on this forum. I know this original vision has changed, but personally I wish it hadn't. Or be able to generate income from their own home while they themselves were away on vacation. The original airbnb model was geared towards hosts who had extra space in the homes where they live, were interested in interacting with guests from all over the world, and generally have a new experience in their lives, which was also financially rewarding. While of course most people want to have the opportunity to make as much $ as possible, I sometimes wonder if anyone has a social conscience anymore (Kelly, I am NOT directing this at you, it is a general observation).Ī lot of cities are trying to either ban airbnbs or severely limit them, as locals, who live and work and are trying to support their families, are finding it harder and harder to find a place to rent since all these whole house, or whole apartment airbnbs have popped up. I am more then happy to answer any questions or give some recommendations if you want to reach out! Hope this helps. Now nothing good comes easy, it is definitely a very high level of hospitality, customer service, strong communication, and most important passion to make this venture work. I maintain roughly an 89% occupancy on average for my properties and think we are more then just a "seasonal" hit. As previously mentioned, you can take advantage of the peak spring season as well as maintain an over 80% occupancy during slower months ( June-Sep) with the right strategy. Scottsdale has 8 months of perfect weather, and this definitely works to our advantage. However, the return is definitely there ( I average 22-40% annual cash on cash returns). For the single family four bedroom homes, it can be north of 10k to furnish it right. Some key questions I have are how many bedrooms? Does the house have a private pool? What are the upgrades like? What is your budget for furnishing? I use my wholesalers and design team and turn my 2 bed condos and townhouses into beautiful turn key AIRBNB properties for roughly 5k. I specialize in turning properties into successful short term rental properties. Old Town is a gem, and my units do very well in this market. I can tell you this, you are strategically located in one of the most attractive areas of Scottsdale. I am a Superhost and currently have 13 active listings in the Scottsdale market.
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