Letting out rooms with Airbnb

tiamaria

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Hi Airbnb has just come to my attention as it may be the answer I've been looking for - but I'm aware that nothing in life is ever plain sailing!

I have a very small spare room at the moment, I also have a very small spare double room occupied by family atm, however they will be vacating this in a month or 2 so of course I Won't be receiving their rent.

I was thinking of renting 1 or 2 of these rooms, I like the idea of Airbnb as I won't be obliged to serve breakfast although I will provide plenty of which they can help themselves. I also like the idea as it means I wouldn't get lumbered with a long term difficult tenant which is a possibility.

I'd like some views of Airbnb especially from anyone who's rented their family home with this company or similar.

I do have a few doubts - as a single woman I'm concerned for my safety, I Love meeting new ppl but they are strangers, so i know i need to be careful.
Not everyone is trustworthy, I suppose there's always the risk something could be taken - and door keys - I'm out a lot, is it risky giving my spare key to all these ppl?

Also tax? Insurance?

I'm sure I'll have more questions but for now would love tips and advice from anyone who has done this,thanks.

PlutoinCapricorn

There are many aspects to consider; personal safety is important for someone in your position of course.

Are you the freeholder? Are you near an airport?

This article looks worth reading:

http://www.landlordzone.co.uk/news/airbnb-landlords-are-taking-big-risks

tiamaria

Thanks, that's interesting, I have no mortgage, but I imagine I ought to inform my house insurers though.

I'm not near an airport, but I am in Cornwall, not a touristy town but it's an easy drive to pretty much anywhere in the county, the nearest beach is about 3 miles.

Guest101

A lodger would be better I think.


You wouldn't be lumbered with them, as you agree a weeks notice period and rent paid weekly. You would meet them first and if things went wrong you would only need to give a week.


Less risk then a different stranger every week.

PlutoinCapricorn

In your position, I would do as much research as possible before starting anything.

I believe that the scheme started with the idea that people with early flights would stay in a room close to their airport for one night only. This sounds like a good plan. Using the scheme for a short break or a holiday is another matter.

http://www.telegraph.co.uk/goodlife/11381038/What-no-one-tells-you-about-Airbnb.html

G_M

I'd buy a replacement lock (your 'airbnb lock'). Each time you have a tenant/lodger, put the airbnb lock on the door. Each time they leave, replace your usual lock.

Consider your mortgage rules.
Consider your insurance.
Consider HMRC tax rules on income.
Consider any restrictions in your lease.
Consider your public liability.
Consider H&S & gas safety etc.
Consider all tenancy laws (if creating a tenancy).

The impression I get is that airbnb and similar arrangements are new, and are seen as an easy-to-set-up way to earn some informal income. It's kind of like doing a bit of work 'on the side' (eg you're good at carpentry so you install someone's kitchen at week-ends for cash in hand).

Fine as long as nothing goes wrong and HMRC don't find out. But if you drill through the water mains and flood the house, or a cabinet falls off the wall and kills a small child, the house-owner may sue you, and you'll have no professional insurance.......

Fen1

Have you used Airbnb at all? I would very strongly recommend doing at least half a dozen stays in accommodation similar to yours in different price brackets to see what you get for your money, how to be a good ( or bad ) host, learn tips from the trade, etc.
Being a good host demands immaculate cleanliness, quality bedding and towels, being friendly and hospitable ( including going the extra mile).
Being a successful host takes as much work as running a B&B. It is not an 'easy' option. It is not like having a friend crash for a few nights. You are entering a professional arrangement with guests who are paying you good money.

I think it is possible to stipulate female guests only or at least a mixed couple. Locks on bedroom/private doors are practical. Hosts can review guests before accepting them, so if you don't like the look of them there is no need to accept their booking.

mas2000

I've been renting my spare room in Aberdeen for the last couple of years just passed the £6k in revenue mark. This last year has been a little quieter due to the industry downturn.

As the other posters say there are significant risks. However I have had only a positive experience thus far hosting some interesting people.

Best of luck.

[Deleted User]

G_M wrote: »

I'd buy a replacement lock (your 'airbnb lock'). Each time you have a tenant/lodger, put the airbnb lock on the door. Each time they leave, replace your usual lock.

A keypad lock would work well for this. Each time a guest leaves, change the code.