Answering the fears of short term rentals!

I can’t tell you how many prospective clients and investors that I run into daily that all seem to have the same 3-4 concerns or fears about investing in an AirBNB. Rightfully so, of course. Short term rentals are returning rates that are unheard of in the real estate world, and this can make people weary of the stability of the market. These are the most common fears I hear:

Fear #1:  “Short Term Rental Homes have a lot of repairs” – We have found that this could not be further from the truth. We have managed both long term and short term properties for over 8 years now, and what we have found, and what many studies show, is that because you have a crew of people like your cleaning crew coming in weekly or even multiple times a week, repairs are dealt with much quicker and therefore cause less damage in the life of the home.

Fear #2:  “Short Term Rentals are a lot of work for the homeowner” – We take care of everything you want us to, so we can literally do everything for you, or we can just help you get more bookings. You can do as little or as much work as you want. If you just want to collect a check every month, we can set you up that way.

Fear #3: “My neighbors will be annoyed if I turn my home into a short term rental” – It is true many residents in Sedona do not like short term rental units as neighbors, but a lot of the reasons are unfounded. What we have learned, as long as the neighbors have the information to contact someone, and the guests are given clear instructions as to how to respect the neighbors, neighbors and short term rentals can live in harmony.

Fear #4: “AirBNBust is upon us, there is no more money in short term rentals” – This is perhaps the craziest thing people say, many homes in Sedona are making well over $100k a year in rental income far surpassing what they would make as a long term rental.