OK – so my “castle” is more like an apartment. Actually the apartment is more like a studio!. But no matter… (that’s for another post..)
Its been a year now since I have been renting out my apartment, whilst I Couch-surfed at a friends place (he has 3 couches!). So far so good, a 5 star Airbnb rating with 15 references to my profile and of course the money comes in handy (School Fees, saving for flights etc). My place is out with Airbnb about 50% of the time at the moment.
Now I come to a cross-roads! So – do I stick with the Airbnb strategy whilst I am away travelling, or put my place out with as a short-term rental?
My thinking:
On short-term rental – I place my apartment in the hands of a local agency. I have to pay for my own insurance, but I do get a bond. The tenants will be working in Melbourne – so will occupy the apartment full-time and cook most meals at home. 100% rental occupancy gives me $350
On Airbnb – I leave my place with one of the largest “hotel chains” in the world. I get public references that builds collateral for my apartment. Airbnb has some $Ms of insurance. The travelers will be just passing thru Melbourne, so will want to go out all the time to experience the local cuisine. 50% rental occupancy gives me $350. Bonus – My daughters can stay there when the apartment is not with Airbnb – and they get to clean it!
So I reckon I stick with the “Sharing Economy” approach – Airbnb!
- How are you preparing for your Digital Nomad lifestyle?
- Are you going to Airbnb or rent out your home?
- Have you been thru this process before? What did you do?
- Are you thinking about a Digital Nomad lifestyle as a form of Retirement?