Always long term rentals but thinking of starting Airbnb

[David P.]

This topic has probably been talked about alot but what do most of landlords who always done long term rentals but took the dive into short term rentals and Airbnb? 

What was your experience like and is it really that much more work? I would just be hosting one single family home. My other long term rentals are very passive and rarely take up much of my time. The property is located in Los Angeles area in a city currently not requiring a permit. I was thinking I can try it out and worst case if it doesn't pan out I can just turn it into a long term rental.

[Nathan Gesner]

Quote from @David P.:

This topic has probably been talked about alot but what do most of landlords who always done long term rentals but took the dive into short term rentals and Airbnb? 

What was your experience like and is it really that much more work? I would just be hosting one single family home. My other long term rentals are very passive and rarely take up much of my time. The property is located in Los Angeles area in a city currently not requiring a permit. I was thinking I can try it out and worst case if it doesn't pan out I can just turn it into a long term rental.

It does take time. Some will tell you it only takes five minutes a week, but they're not honest. You'll answer calls and emails from people asking about the rental, payment processes, check-in times, amenities, local attractions, etc. You have to watch reservations and track payments. Arrange for cleaners. Handle calls from a guest that checked in at 10:30pm and now they can't figure out the TV remote or the A/C. You'll still have your ordinary maintenance calls for clogged toilets, lack of hot water, and maybe even some unusual ones like a crock pot that didn't properly heat and cook their casserole.

Short-term makes more money but takes more time, period. If you're not ready to accept that, stick with long-term. I own one short-term that is just 30 minutes from my house, but I still hired a manager to take care of it. My time is more important than a little more money.