AirBNB in Suburbs (Mauldin) of Greenville, SC

[Stephen K.]

Hey All!

Been missing in action here for some time - I've been doing a lot of work on our house we bought 2 years ago. We have gotten to the point where we are "busting at the seams" and looking to move into a larger house next year as our family has grown. Originally I was thinking about selling, however, lately I've been thinking about keeping and renting and really leaning towards making it an AirBNB if its a viable option in this area. Mauldin City Center appears to be in the final stages of finalizing and I'd really hate to sell the house just before our area appreciates significantly due to this new development happening nearby. We have pumped at least 20K in renovations into this house, a lot of money going into things like new water supply lines, a lot of crawlspace work, new insulation, etc. that should help a lot with keeping the CapEx cost down. A lot of the furniture, appliances, kitchenware, etc. we could leave here and buy all new on the next house as we'd be looking to get new furniture anyway, so that would mean really just buying some bedroom furniture and mattresses.

The estimated numbers I get from AirDNA and AirBNB look good, but my question really is are they even close to accurate?  In an area like Mauldin being a suburb 15 minutes from DT Greenville, is an AirBNB a viable option?  Also, are there any other expenses I should take into consideration for instance replacing the chain link fence with a privacy fence in the back yard?

[Patricia Taveras]

@Stephen K.

Hi Stephen.

First check for local regulations on Airbnb in your area and neighborhood- make sure it is allowed.

From what I have seen in my business and some colleagues- the suburbs are doing well with Airbnb right now.

You can get a good idea of earnings to expect by looking at similar properties in your area and viewing their calendars to gauge occupancy rates.

Additional expenses to consider: cable, internet, utilities, lawn care, slightly higher insurance, linens and toiletries, cleanings (can be mostly charged to guests)

You can probably get away with keeping the chain link fence. We have two properties with privacy fencing and one with chain link. They all make the same amount of money. People are just happy to be able to let their dogs out.

Hope this helps. Good luck!