According to iPropertyManagement.com, as of April 2019, there are over 150 million Airbnb users worldwide, and the other facts + figures you’ll find on the site are just as astounding. This recent Vox article dives into US consumer lodging sales, and their data shows that in just this past year, Airbnb has experienced 30% growth.
People want to travel, and those with an extra room (or entire home) to spare are taking advantage of the platform to make some extra cash as hosts. But many Airbnb hosts are looking at the whole short-term rental venture in a much more purposeful way—owning and running and Airbnb has become a popular real estate investment strategy.
If you’re curious about buying a property with Airbnb potential, here are 4 things you should be looking for:
- Central location + access to mass transit: The more options you have for your Airbnb guests to get downtown and to popular events, the better your chances are of being booked more often. Plus, a central location can mean more demand, meaning you can charge more.
- Townhomes + single-family homes > condos: Many condo buildings flatout don’t allow short-term rentals like Airbnbs, and if you break the rules you can face some unpleasant consequences. Townhomes are the way to go, especially since many of them are built with ground floor bedrooms and sometimes even separate entrances and living areas that are perfect for converting into Airbnbs.
- Parking: Guests will frequently need parking, and being able to offer a reserved parking spot is very appealing for guests.
- Architecturally interesting: If you’re in a city with a lot of competition, then you’ll want your home to really stand out in the crowd when people are scanning featured photos of listings on Airbnb. The more special and eye-catching your home is, the more people will choose it over others (even for a higher price).
We’re excited to show off our latest townhouse listing! Located right on 12th in the heart of Capitol Hill, this gem is in a prime location that Airbnb guests would LOVE. Click here for all photos + info.