(Topic ID: 273925)

Sell it, Rent it, or AirBnB it?

By mcluvin

3 years ago


Topic Heartbeat

Topic Stats

  • 35 posts
  • 22 Pinsiders participating
  • Latest reply 3 years ago by mcluvin
  • Topic is favorited by 2 Pinsiders

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#23 3 years ago

You never mentioned your moving plans. Are you buying or renting somewhere else?

Quoted from mcluvin:

I don't want to deal with daily BS from renters.

You absolutely need a management company. There are probably dozens in the area you can choose from. Just like a realtor, do your homework before picking one. If it's furnished, find a corporate housing broker, if they still exist.

You may have some success AirBnB, but there may not be a market in your area if there aren't any comps in your town. A house not on the beach or close to a park isn't going to be a big draw for short term rentals considering how many units there are in the state. Also look at the occupancy of the houses in the next town. If they aren't booked 3 out of 4 weeks, you wont make any money on the rentals. I think AirBnB charges 3%, but you will still need a management company to clean, maintain the house, and take care of emergencies.

We have a vacation home 90 miles away and I would have sold it or taken it off the market if I didn't have a management company to deal with stupid renters. And don't plan on ever wanting your furnishings back after it's rented a while.

Too many questions on the capital gains point to make suggestions - like what's your age, marital status, estimated appreciation, next purchase time frame etc. It's unlikely you have 500K in appreciation, so it may not be a big issue anyway. At least not for 3 years . Do your research somewhere that's not a pinball site.

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