All Forum Posts by: Erin Spradlin

Have you looked at hiring a service like Guesty or Hosty? Not sure if they do remote areas, but that's probably where I would start. We've run airbnbs in Denver, CO and also just used craigslist help for work. I know that's again, not the same as being remote- but if you post in your local area you might be surprised by who is looking for work. 

Agreed with the above comments... I would just get an air mattress and put it in the closet (make sure to charge more for more guests- even if they are on an air mattress.) I would not bother with the sleeper sofa though as I don't think it's more valuable to you than an air mattress. Good luck! 

My brother has done Airbnb in Colorado Springs and furnished his place with some light renovations for $8000. That was for a 3 bedroom, 1.5 bath home. He did a lot of his shopping on NextDoor and Craigslist... If you go to the right neighborhoods, you'd be surprised at the nice stuff you can get for cheap. Good luck!  

I use AirDNA as a resource but I don't totally count on it. The reason for that is I see a lot of variance month to month for different property types, which makes me think their data set might be a little low. When we're running Airbnb numbers in Denver and in Colorado Springs, we do additional research. 

Airbnb.com actually has a place where you can start listing your property (it's under the Host drop down on the horizontal bar.) You don't have to be totally ready to go with your listing, but you can use it as an estimate for what you can get. Airbnb will run the numbers based on location, type of property and amenities. I think they probably have a stronger feel for this as they have more numbers to work with. 

Added to that, you can look at Airbnbs in your area and see how often they are rented and for how much. That would give you an idea of what to expect and what to ask for when using third party property management. Good luck! 

Hey there- we have a client looking for an accountant for short-term rental properties in the Denver metro area. Does anyone know of someone that can help? They are looking for someone that can help with tax-related requirements. Thanks! 

@Account Closed - we've been doing Airbnb in Denver and have found it to be very profitable. While I agree with those telling you to use AirDNA for a quick check- I'd also advise looking at what Airbnb projects for you. My experience with AirDNA is that sometimes it's data heavy and can also have limited sample sets that can skew the results.

The upfront investment can cost a bit (takes us about $4K to furnish a studio with IKEA), but the money has been really good for us (again though, we're Denver based.) We were clearing about $3K/month after expenses, so the $4K quickly felt like nothing. Good luck! 

Hey @Alex Gera-

You can do your research a couple of ways, but I recommend AIRDNA and also just going on to the Airbnb site and seeing what's booked around you as well as getting their estimates on how your place will do. 

We have been done Airbnb in Denver since 2014, and it's been very good to us- much better than a long-term renter. On one bedroom properties, we were making $3000/month after expenses. My family is also doing Airbnb in Colorado Springs and is making about $1500/month after expenses- so it can be pretty lucrative if done correctly.

BiggerPockets actually has a video series on how to start and manage Airbnb and I recommend it... in part, because I'm one of the hosts of it. :) But we do try to cover topics that are useful to people starting, like pros and cons, how to get set up, how to get the most from your listing, insurance products, etc. I'm listing some of the links below. Good luck!

How to Get Started

Pros and Cons

Horror Stories

Listing your place for success

Navigating your city and HOA laws

@Andrew Wong - I have not used it, but some of our clients have and have been happy. I think 2-5% is pretty decent considering the amount of manual time it'll cut off. 

@Mark Leavitt - Welcome to the BP community! It's an awesome place to get advice on housing, short-term rentals, deal crunching, etc. Definitely has been very useful for me. Good luck!

@Andrew Wong - Guesty has a multi-calendar feature. I know there is also software that you can pay a monthly fee for (around $20) that takes the manual management out of it. I've heard of Lodgify and VR Calendar Sync as well, but have not used them.