AirBnb vs Long Term Rentals - Which is Better?

AirBnb is one of my favorite ways to invest, but I also have many normal long term rentals as well. How do we go about choosing which is best? What are the pros and cons of both?

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I actually wrote an article for Forbes about why I like Air Bnb and other short term rentals. You can read that article here:

https://www.forbes.com/sites/forbesrealestatecouncil/2019/05/21/why-short-term-rentals-are-real-estate-investings-future/#5438be697a85

Check out my other videos on Air Bnb:

How We Furnished Our AirBnb (Cash Flow Revealed):
https://www.youtube.com/watch?v=UjNG5t0WCKg&t=27s

INSANE LUXURY LOG CABIN (AirBnb)
https://www.youtube.com/watch?v=26Et7OR_cuU&t=35s

As I discussed in that article, there are many pros to going the STR route. You will generate more revenue, be able to use it for yourself, and you have diversified risk. The cons would be the increased management of the home, furnishing the home, and all the government regulations with it.

On the long term rental side, there are many pros. You’ll have less management, no furnishings needed, and the income is more predictable. As far as cons go there are a few things. You have to deal with evictions, the revenue will be less, and you can’t use the home.

Now that you know the pros and cons, you then need to decide what's more important to you. A home on AirBnb is essentially a hotel. You will need to manage it everyday with bookings, coordinate cleanings, and everything you would expect with a hotel.

You also need to see if the ROI on Airbnb is worth it in your market. Some markets are extremely hard to rent short term. Some markets just don’t make that much more once you factor in all the fees. Do your research before you assume Airbnb is better.