Is Airbnb a Good Platform for Real Estate Investors?

Chicago Real Estate Podcast with Vergis Eiland

What is happening with the interest rates? You can find out today because we have the mid-spring real estate update for the Chicago area.

Looking to buy a Chicago home? Get a Full Home Search

Selling your Chicago home? Get a Free Home Price Evaluation

As a real estate professional, it’s important for me to always stay on top of the latest news from our industry, and one of the hot topics I keep hearing about lately is a company called Airbnb.

Airbnb is an online platform that allows those who own property to rent it out to travelers. With all the ongoing discussion surrounding this platform, there are obviously positive and negative points being brought up. Let’s start by looking at a few of the positives.

First of all, the platform allows you to supplement your income.

I’ve personally got one client who has used it to pay off his mortgage, and another who also makes a large sum of money each month through the platform. Additionally, local businesses also receive an infusion of cash when people stay at short-term rental properties through Airbnb. Beyond serving as a source of income, Airbnb also allows investors to meet new people from all over the country—even the world.

“

And beyond serving as a source of income, Airbnb also allows investors to meet new people from all over the country—even the world.

”

Of course, there are arguments against Airbnb. One of the negative aspects people point out is the claim that it hurts a pricing housing market. People also claim that short-term rental platforms like Airbnb take business away from long-term rental inventory.

So if you’re thinking of running an investment property through Airbnb, be sure to keep all of these pros and cons in mind. Also, make sure you consider the tax implications.

Running an Airbnb could help you supplement your income, but it’s certainly not a decision to take lightly. You must be comfortable sharing your home with strangers, handling the check-in and check-out process, and taking care of other managerial duties.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.