I wrote an article about moving my Petone, Lower Hutt 3 bedroom property from a long term rental to a holiday rental on Airbnb a few weeks ago.
I took the house from being rented at $700 per week ($36,400 pa) to getting $5,500 per mont from airbnb and booking.com ($66,000).
Some what astounding figures when you think about it but you need to consider the reality too that I’ve been paying $1,100 per month in cleaning fees, toilet paper, power and maintenance that’s over a above the previous arrangements.
I’d say in all reality my profitability is probably up by $800 per month or $9,600 pa, which really just makes it boarder line as to being worth doing or not.
What you need to consider is the cost of furnishings, the time it takes to...