Airbnb or Long term?

theguzman

I bought a house in 2018, took a few months to get a few minor jobs done, over 6 weeks for the ESB to be reconnected etc. By mid 2019 I had it rented at market value, fast forward 2 years and my tenant has moved out, they were both the best and the worst tenant. He paid his rent perfectly but when departing left the house incredibly dirty, I have spent several days cleaning myself and with a contract cleaner also to bring it up to acceptable levels of hygiene again. No rent in the final month and took a months deposit, so I have nothing hold back from, they also broke around €300 worth of furniture. I blame working from home and a far higher amount of time inside the house than might be expected.

The house is in a touristy area and I was thinking to possibly try airbnb or booking.com for say weekly rentals, with insane hotel prices locally I could let the house at more than double rental prices and still be less than half a hotel price, short term airbnb etc. is far more favourable as it gives me great control to retake the house myself unlike long term tenancy.

As the rental price has almost doubled since 2019 I am also afraid to ask that since I can imagine it just setting me up for arrears and tenants who would stop paying and let me high and dry for months or years. I don't want HAP tenants either since I am told they are troublesome but can't refuse either by law, the house is in a very nice matured estate with upper middle class demographics.

What sort of things would I need for Airbnb? Notify Revenue? presuambly my accountant can do this? I had landlord house insurance, would this need to change for Airbnb?

I can afford to let the house sit empty rather than let it unlike when I bought it, the house has increased over 100% in value also since I bought for a bargain price at a bank auction at the time.

Airbnb automatically inform Revenue of your income earned from bookings on the site.

I have both rented and an Airbnb property, there is no comparison between the two, I highly recommend Airbnb. You will make much more money, you have the freedom to do with your property what you want, when you want. Payment trough Airbnb is easy etc.

But there are a few things you need to know.

• You are supposed to have planning permission if the property is in a RPZ. Most do not, make of that what you will.

• There is a lot of cleaning between stays, some guests are clean, some are filthy fuckers.

• Be prepared for idiots complaining about the slightest, and stupidest things, l had an American complain the house was cold even though it was 25 degrees outside, the heating was on full blast, the house was like a sauna, but they had come from California where it was 40 degrees and they were cold.

• Make sure you set your booking settings to request Host permission before booking, I only let to families, no pets, I don’t let to groups of teenagers. (Look up the guest on Facebook/Instagram).

• You will need holiday home insurance in addition to your standard home insurance, I use Arachas Insurance, they have an Airbnb home insurance.

• Prepare for some abuse on this site from posters saying Airbnb should be banned, you are helping to make a bad renting situation worse, what about your neighbours etc etc, ignore them all. Airbnb is a great way to earn more, without a tenant.

Darc19

Renting for 2 years and having €300 of furniture damage is very good - wear and tear. And yes, a lot of people are dirty and really have no idea of cleaning or pride in a place that they live. Young men in particular are poor in this area. Its not that they do it on purpose, they always had mammy clean up after them.

If its a tourist area, (that doesn't attract hen/stag type parties) then I'd certainly look at airbnb. I have two myself since March this year and so far all guests have been impeccable. In some cases I search for Facebook profiles especially if they don't have reviews. I allow small dogs as they appreciate that they can get a place. And I have good quality furnishings and some extra touches such as a welcome pack, firewood/turf, decent bedding. I have minimum 3 nights and max 7 nights - less chance of it being left dirty. Most guests have left the place impeccably clean. With airbnb you also leave reviews for the guests, so that can help

Planning is not an issue for me as they are holiday homes. And without planning you can rent for 90 nights - I'm sure no-one will bat an eyelid if its 100-120 nights. Many hosts leave a night between guests, which gives time for changeover and little extras like early check-in or late check-out.

If you do it properly and put some effort into it, it can be a good earner.

atahuapla

If the house is not your PPR and is not in an RPZ, is 90 days the max you can rent it out without planning permission?

I’ve an elderly family member with a property in Donegal that has fallen into disrepair and I’ve been thinking about purchasing it from him to renovate myself purely for Airbnb purposes.

I’m a little hesitant due of factors outside my control scuppering that plan though. I.e planning or liability insurance being declined after I put the work in.