If you study real estate investment trends you already know that short-term rentals are predicted to continue their upward swing in popularity and demand.
The prevalent tool connecting travelers to unique short-term lodging is, at present, Airbnb.
These two pieces of information have been provoking real estate investors to hone their efforts more toward property purchase with short-term lodging in mind, and less toward the traditional rental situation (with tenants who are more likely to damage property and not pay rent).
Of course, you could still run into issues like these with an Airbnb property, but the very software of AirBnB inherently diminishes this risk. This is due to AirBnB's ratings and review system; for anyone with a profile on Airbnb --property owners and travelers alike-- they are rated and reviewed on every stay. This ease of access to an individual's reputation helps mitigate risks to property, income, and other headaches in general.
If you're reading this article, you're probably already convinced that Airbnb is a wise investment decision, so let's move onto the next step: Where will your Airbnb investment property be?
THE BEST CITIES FOR AIRBNB INVESTMENT IN 2018
One of the hottest housing markets in the US right now, Nashville doesn't just qualify as one of the overall best cities for Airbnb investment, but also one of the most profitable.
Unlike many cities, Nashville already has a legal framework in place for the short-term rental market.
Despite the city's industrial growth, housing prices have remained affordable.
The area attracts millions of tourists each year for its cultural downtown scene, rich in musical history and events, and the bucolic surroundings that are just a short drive outside the city. Nashville is a place where worlds collide: young and old, urban and rural, traditional and modern, promoting a feeling of everyone is welcome.
Extra perks include no personal incomes taxes, low unemployment rate, and low cost of living.
Airbnb is so popular in Austin that hotel revenues actually saw a 10% decrease in 2015.
With its hip culture and plethora of attractions and events - Austin has been and will continue to be a tourism powerhouse. An added benefit - most tourists to the area are millennials, and millennials love Airbnb and unique experiences!
Proof: during SXSW, an annual festival held in Austin which attracts over 130,000 attendees, Airbnb property owners have reported collecting over $1,000 each night.
PALM SPRINGS, CA
AirDNA, a real estate analysis tool, gives an A grade to Palm Springs. Several factors go into this, notably: the consistent sunny climate, some of the largest festivals in the world, and the variety of activities to enjoy.
Because of this unique blend of attractions, Palm Springs is always hopping with visitors and isn't just event dependent.
Airbnb property owners in Palm Springs average $400 per day in short-term rental income.
Make sure to research laws and regulations before settling on this area (or any area, obviously). As with most California cities - regulations are rapidly evolving and sometimes very different from what residents in other states might be accustomed to.
From rainforests, volcanoes, mountains, hot springs and picturesque coastline to a bustling downtown full of museums, restaurants, and unique shopping - Seattle is a tourist hot spot, especially for cultured, eco-minded millennials.
A 2015 study showed that Seattle tourism has reached record-breaking levels, outdoing neighboring Portland, Oregon.
Average Airbnb revenue totals over $2,500 each month!
These are just a few great locations across America for Airbnb investors to look into.
An important factor to keep in mind, no matter which city you decide to put your Airbnb property, is the type of property. Unique properties will always perform better than your standard house.
Interesting structures like yurts, cabins, geodesic domes, treehouses, hobbit holes, shipping container homes, and ultra-modern prefab homes are among some of the most popular listings on Airbnb.
For this reason, we designed the HAVEN Nest sub-option specifically for Airbnb - a great way to make your HAVEN pay for itself.