That is the question.
Whether it’s nobler to make a ton of cash or to step away from the maintenance of a rental…? Let’s find out.
Let’s start with the easy-peasy lemon squeezy side- the Pros!
Then we will move on to the…difficult-difficult lemon difficult, I guess.
To sleep! Perchance to dream…of cash money!
#1 reason to Airbnb your home, summer home, boat, apartment over the garage… Whatever!
Averaging $1,000/ month (up to 6 figures, by the way!) it can be an excellent, frugal way to help with a mortgage, own a vacation home, or make some extra spending money!
If you do the research to see what similar properties in your area are renting for, you're practically there.
BUT—and used all caps for a reason—there’s the Cons list.
So let’s rip off the Band-Aid, shall we?
It takes work.
Honestly, that’s the biggie.
Cleaning.
Customer service.
Marketing!
Communicating.
Legality! Is it even legal in your area to list your property?
And then there’s the taxes on the income.
Got an accountant? Sweet!
If not, figure out how to navigate the red tape before you jump in with both feet.
In short, Airbnb and Vrbo hosts are killing it, as I write. Making beaucoup bucks!
Wanna join them?
Do the math, do the work, and Cha-Ching! That cash will start rolling in!
