Any Crashpad landlords out there

[Kevin Paulk]

Hey BP Community,

Just wanted to reach out and get some advice from Landlords who are successfully using the short term crashpad niche as a way of investing. Just looking to hear about the pro's and con's as well as any challenges one  may of faced starting out.

Any feedback would be much appreciated.

~Kevin

[Natalie Schanne]

Kevin Paulk Matt K. - I focus on furnished private room rentals near an airport. I prefer longer term roommates who sign a lease with house rules and pay a security deposit. I charged $595-695/mo utilities included for a private room. When these rooms are empty I charge $29/night through Airbnb and usually they get booked by people flying out of the airport early in the morning or visiting professionals. These are mostly 1 night bookings. My rooms are only for 1 guest.

I personally dislike having to wash and change sheets, blankets and towels every day between tenants. Which is why whenever I get someone to sign a lease, I immediately remove the Airbnb listing which could theoretically make more but with vacancy evens out to about the same but with a LOT more work and no security deposit.

I’ve met some people who have told me about pilots who share bedrooms in a crash pad type house each paying like $200/mo and planning to be there 5-10 nights/mo, sometimes in a bunk bed. Beds/Rooms seemed first come first serve. Not sure how they actually balance this subscriber like approach where you might rent 4 bedrooms to 12-20 people who each don’t plan to be there often.