Did you know that 60% of vacationers and travelers prefer Airbnb over comparable hotels? Moreover, over 54% of homeowners consider renting their home through a third-party site, such as Airbnb. That means there’s a high demand for Airbnb, and the competition is relatively high. As such, to be successful, you need to understand what you’re getting into and how to navigate the Airbnb venture.
To help you with that, here’s a simple guide to investing in an Airbnb in San Antonio:
Research the Local Neighborhood
Is your Airbnb in a desirable area? Does it have easy freeway access? Is it within walking distance to nightlife? Identifying these aspects can help you decide where to buy an Airbnb and how much to charge your guests. Moreover, if your Airbnb is in an exciting or central location, close to a significant attraction or stadium, near downtown, or offers in-demand amenities, you have the chance to attract both long- and short-term travelers.
Price Your Airbnb Correctly
Like you’d review comps in other real estate transactions, you should research how much other Airbnb hosts are charging in the neighborhood. Moreover, defining the type of people you want to rent out your property to will help you price and market it. If you want better-paying clients, you should hold your end of the bargain and provide a luxurious experience.
Understand the San Antonio Airbnb Regulations
It’s legal to own an Airbnb in San Antonio, but the city has passed an ordinance that regulates short-term rentals. Some of the key restrictions you should know about Airbnb rentals in San Antonio include:
- You should register with the city for a $100 fee – the license should be renewed every three years for $100.
- You shouldn’t provide your guests with drinks or food.
- Hosting large events in an Airbnb is prohibited.
- You’re responsible for collecting occupancy taxes from your guests in San Antonio.
Invest in an Airbnb in San Antonio!
Investing in an Airbnb is one of the most reliable ways to create passive income. And since it’s a long-term investment strategy, it requires more work and careful planning. For more information on how to invest in an Airbnb in San Antonio, feel free to get in touch with our real estate experts today!