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Taken from Airbnb group on Facebook posted by the Author. I hope he doesnt mind as it will push his book higher on the charts.
Don't need a house just a couple of sheds in the / a backyard
Indeed a tent in the garden will get listed!
Also junk vans in abandoned industrial parks,
you name it there is NO safety checks!
If you're serious about this business you can sign 12mth leases then sublet through Airbnb. Of course you need to get permission from the owner, pay/rent for furnishings etc and take comprehensive entry photos with agreement you will return the property back to the owner in the condition you initially rented it. Scale this up and you have a business. I know a guy with 9 apartments he rents then subleases for short term accommodation. Hit me up if anyone is interested in doing this as a business model in the most touristic sand/sun/surf location in Australia
Step 1: unceremoniously kick your tenant of many years out on their arse during the worst housing crisis of the last century
Step 2: make a tiktok about how you're not running a charity and if anyone complains they're just jealous of your success.
Step 3: Profit….
Step 4: watch the regional town where your airbnb is located slowly die off as the locals can’t afford to live there anymore.
100%. Airbnb is a cancer on society.
Step 5. Retire and buy a Jayco and Landcruiser and talk about how hard it is for self funded retirees.
Save it for your tiktok videos.
You must be very unlucky because everyone knows property investing is 100% risk free.
It kinda is 100% risk free. If property were to fall significantly then the federal govt would borrow more money (i.e. indebting all of us) to inject stimulus into the sector.
@shegeloaf: I 100% agree.
Still doesn't alter the fact that it would be politically unpalatable to allow the housing market to correct significantly. So much of Australia's GDP and wealth is tied up in property that any government that let it crash would be annihilated.
Wow with interest rates so low, if you were a landlord I am assuming you would have passed on those rental decreases then.
What a stupid argument for tenants to pay for your interest rate rises. You are the one that gets an asset at the end of the day and the tenants get nothing.
Landlord is taking on the risk of providing the security for the capital so there must be an incentive to do so, I.e a return on investment. The cost of rent must be comparable to other rentals, else you can always go somewhere else.
We stopped voting for governments which cared al long time ago🫥
@angryasian: Most (not saying all) do not want to take a risk with the current tenancy laws and low returns (as in comparison to capital) in uncertain housing market.
I feel for those in need, but I have to pay own bills.
A number of people I know of actually, don't want any headaches with the laws specially.
Government should do something I suppose otherwise may be hope for a socialist setup. I suppose it is a choice.
Landlords did to that, not by choice but because the options are meet the market or remain vacant.
Landlords are charging the highest price they can get. They were before & they are now. Higher interest rates just means the landlords leveraged to hell have to put up their prices or sell which means the bottom of the market lifts.
at the end of the day and the tenants get nothing
Well they get somewhere to live obviously. Or did you conveniently forget that part because it didn't suit your argument?
@1st-Amendment: Yes. It’s odd that anyone would refer to shelter as ‘nothing’. It’s like saying homeless life is tops. I mean each to their own and all but that has to be a minority viewpoint.
Shelter is one of Maslows 5 needs in the hierarchy of needs. It should have never become a capitalist lottery.
@sunnyc: It's circumstance that drive many, many people to homelessness, it's never a choice made easy, and often a choice made to face a lesser of two evils.
Your attitude is horrid, and I hope you never see that loss of freedom, but it can happen to anyone with any amount of job and financial security.
You should probably feel ashamed, but I'm sure you won't.
It's circumstance that drive many, many people to homelessness
'Circumstance' isn't a reason, because every possible situation is a circumstance. It'd be like saying 'reasons are the reason things happen'.
And if you feel so bad about it why don't YOU offer a place in your home for a homeless person?
But hey why do that when you can virtue signal how bad everyone else is…
@1st-Amendment: Live in gold coast, spend 3 days a fortnight helping homeless through 2 different organisations.
I've been homeless before, living out of my car for few months. Circumstances meant I lost my job, health and emergency funds at the same time. Lost my housing 2 months later.
Why should tenants pay it?
Step 0: Own a house first.
Damn, I failed already.
Did you not read the book?! That is step 1 of the very simple plan to "Outearn Your Competition with Skyrocketing Rental Income".
If you read the book I am sure you can magically make it.
/S /S /S
This but unironically.
Also inviting heat from salty poors by posting about it on tictok is only necessary if you have monetised your tictok presence.
Disregard moralising, maximise income.
Step 1, that would be a 'No Grounds' eviction wouldn't it?
That could be an issue, certainly in Queensland anyway.
Soon Australia will be place of Landlords and tenants (aka slaves) just like the Colonial days
I better Sign up for the next Eureka Rebellion
Is that like Extinction Rebellion only they discovered showers and soap? (Eureka!)
Even Victorian Gold Miners knew the importance of showers and Soap!
Is this edition updated for COVID?
Dumb question so apologies in advance.
What if you've got an old house with poor insulation and your tenant just switches on the a/c all day long everyday? How is it going to be profitable?
By charging them the electricity bill?
Aircons are very efficient. If running a heat pump/split system 24 hours a day is making your AirBNB unprofitable then you aren't charging the right amount. Most AirBNBs are a rip off now. Fee to rent the place for a night or maybe minimum of 2 to 3 nights then fee you have a $60 - $120 cleaning fee or even higher. You are doing something wrong if you worry about an aircon bankrupting your AirBNB.
Thanks for the reply. A 15 years old ducted system. Cooling and heating. I think it chews up lots of pawer that's why.
Remove the a/c and call it "rustic", "back to nature" or "authentic". You can possibly even charge more for this unique experience.
Lol- good one
So get a hole saw, stick it in the end of a drill, make a hole between each upright, pump insulation into the walls, plaster the holes closed. Then install an inverter split system and charge a bit more than places without them.
I stayed in an Air BNB in Malta recently (middle of their summer) and the AC had a coin operated meter lol. They gave you 10 euro a day of credit which we didn’t actually go through but that is because we only used the AC at night or for the first few hours of the night.
I imagine a system like that would be expensive to install though! But they exist…
Man those boot-straps of yours must be cutting off circulation.
wrong or right we live in a western capitalist society.
Not wrong, only right. Feel free to name your top 3 socialist Utopias that you would prefer to live in instead if you think free market economics is so bad..
Imagine growing up in the most peaceful and prosperous time in human history thanks to Capitalism, yet thinking this was tyranny. It takes NFI to the next level.
The Government can just get rid of the Capital Gains Tax Rort so the Get Rich Quick Scammer's can go back to work and contribute something ,
instead of living on the back of working families.
Won't change your situation. LMAO
Or better yet cut immigration
Yeah! Won't change much. Havent heard anyone saying they don't want to earn $200,000 +'because they would be paying too much tax. If the market is right, people go for it.
In any event if investors are taxed so that they can't make any money, they won't built or buy houses to rent -This will impact the number of properties available for rent. People would always need rental properties for various reasons, including that some may not qualify and some may choose to live that is way.
Also just because investors are out, it does not mean houses will be free game for all or that everyone will automatically qualify for loans or that everyone would want to buy a house.
The above views are how the market operates and not how I feel.
Personally if it is me I would look to invest elsewhere with more surety and security of the asset than rental market. Each to their own but I don't feel their position is equitable (from legal point). I owned a property - had such a hard time promised myself never again!
So who ever feels more passionate should start withthemself. No room is small enough not to fit others.
Capital Gains Tax Rort
Um I think you mean Negative Gearing. But that's ok, it is entirely expected that people who don't understand basic economics are the same ones who shout loudest against stuff they don't understand…
You got me there .
Not up to date on tax avoidance jargon.
I only have the one house I live in , and don't seek to sell it .
Not up to date on tax avoidance jargon.
It's not tax avoidance if you legally aren't required to pay tax in the first place. Do you know anyone who voluntarily offers to pay more tax than they should? Why would anyone do that?
You are spot on.
The correct term is Negative Gearing Rort
The correct term is Negative Gearing Rort
Only in kookoo Labor lala land is it considered a rort to claim a tax deduction on a loss.
Feel free to explain why you think a person should pay tax on negative income? I'm really curious to hear the logic behind this.
@1st-Amendment: Because in the vast majority of cases it is not a negative income, if you take into account the capital gain that will be realised upon disposal of the asset.
It is double dipping, because of the ongoing deductions against personal income, and then a 50% CGT discount.
Because in the vast majority of cases it is not a negative income…
Actually it is precisely that. Losing money is actually negative income. Facts/feelings I'm sure you know the drill…
if you take into account the capital gain that will be realised upon disposal of the asset.
Which then incurs tax on any profit, which is how income taxes work. If you have income you pay tax, if you lose income you get deductions. Which part of that doesn't make sense to you and the rest of the Labor party?
@1st-Amendment: How artful of you to split my sentence, so you can apply your own spin.
And then ignore my following related sentence.
Bugger off.
How artful of you to split my sentence, so you can apply your own spin.
It's called logic. You made two points, then a conclusion based on those incorrect assumptions. I addressed them separately to help avoid the obvious confusion that you have between negative gearing and CGT. Which part of that do you disagree with?
and then ignore my following related sentence.
I addressed both points that you made, your last sentence was simply your poorly formed conclusion based on your misunderstanding positive and negative income as viewed by the tax office.
In logic, if your premise in wrong then your the conclusion is also wrong. I thought this was obvious, but here you are…
@1st-Amendment: Given that I have not long ago sold my rental property, and having worked nearly 20 years in the tax division of a Big 4 accountancy firm, I have no confusion.
When I paid tax on the capital gain, it was assessed as income.
There we are…
Can't have your cake and eat it kids
But they don't want to hear that. They demand a house in a major city with all the mod cons and luxuries for exactly what their grandparents paid or this is literally Nazi Germany.
Kids these days are so emotionally fragile :)
As much as I can understand where you are coming from, we should be considerate of others. There are all sorts of people with varying circumstances.
Government should be doing more. These things cannot be done at individual level.
Government should be doing more.
Actually they should be doing less, it is specifically their interference in the market that has suffocated supply causing higher prices.
I would happily build a 25 storey apartment building where my house sits and house 25 more families in whole floor apartments but the government is prevent me from doing it.
These things cannot be done at individual level.
Some things can. Our ancestors fled their government to find a better life elsewhere on the other side of the world, I'm sure there are something you could do to improve your situation.
Life is always a struggle, you can choose to sit around complaining about it or you can try and do something about it. None of us are guaranteed an easy path through life.
None of us are guaranteed an easy path through life.
yeah but the difference in how 'easy' a path is between individuals is staggering.
Yeah, I get your point which is looking after #1 but others look at ways to help equalising the field. Just differences in ways we look at the world
but others look at ways to help equalising the field
Communists have been trying that for 150 years and it ALWAYS ends in disaster. But those who do not learn from history are doomed to repeat it…
Just differences in ways we look at the world
Agreed. Some people prefer data and facts, other prefer feel good slogans and emotion. Again, history already demonstrates which creates the best overall outcomes.
but others look at ways to help equalising the field
probably not worded correctly……I agree, we can't remove inequality in our present mindset, it's more about reducing inequality.
history already demonstrates which creates the best overall outcomes.
This is where the differences in thinking come from. What do you define as the best overall outcomes? That of the country's wealth or that of the peoples overall satisfaction and wellbeing?
This is where the differences in thinking come from.
It's not a difference of thinking, it's difference of opinion, because one side doesn't think they just act on emotion.
What do you define as the best overall outcomes?
The best judge is what people want based on their actual choices rather than any virtue signalling. Once you recognise it, the difference in thinking really boils down to thinking vs not thinking.
That of the country's wealth or that of the peoples overall satisfaction and wellbeing?
Both. No socialist country in history has ever ticked any of those boxes so why would anyone with a brain pursue continue to flog that dead horse? Because they are driven by emotion rather than reason, and that is the key to understanding the differences of opinion.
Don't show this to greedy landlords
Unpopular opinion
I only stay at hotels now that airbnbs are screwing over the little guy and arent actually any cheaper now that they have cleaning fees etc.
Not unpopular, been 12 weeks in a major city now, and have stayed at a hotel the entire time. Airbnb can get absolutely (profanity).
In Asia I only stay in Airbnbs although the variability is high
In Melbourne I spent 6 months in them and it was a good experience
A lot of the Airbnbs in Indonesia, Thailand, Malaysia seemed to be run by hotels & no where near the same accomodation as locals housing or rents.
Not sure it would put pressure on their rents, considering the quality of the Airbnb vs a standard locals rental is probably very different, such as toilets, appliances etc
Heck most had pools & things, not the normal locals home.
Just done 30 days Europe: Company promises breakfast: NONE received!
Company claims to be upfront with house rules: Nothing could be further from the truth!
Many landlords are now asking to bring own towels! Ask for illegal garbage disposal.
Deceptive listing practices: Far worse than Exepedia!! Drop fees being issued later.
Renter can not read landlord's review until one is written. Then support is non- existant!
Airbnb is no longer competitive against legacy accommodation providers.
I reckon Airbnb didn't even make Hotels more competitive, it certainly made rentals uncompetitive.
At one stage airbnb was for the little guys. Now their costs are on part with hotels. Shocking!
The only thing that airBnb has is normally a kitchen. That's all that separates them.
un-rated?
Kind of unrelated but I only saw the rental crisis stories in the tourist/regional area. Rent in the metro did increase but it just equals to pre-covid time (reduced 30-40% during covid then back to the same level). The media blames landlords for converting long term rental to short term as the main reason but I think life style change is the real driver. If work from home is here to stay (forever), weathy people will want to live in tourist/regional area, pushing poor people to somewhere else. Airbnb is just part of the motions.
Is there a market for the povo experience on Airbnb?
Asking for a Hauso mate!
Airbnb is one of the worst things of modern society. A house is no longer a home for many, it's an investment purely to seek profit. YUCK!
"Outearn Your Competition with Skyrocketing Rental Income" - FFS
Nice try, I don't use Airbnb.
Lmao. Nobody cares what you think. I haven't stayed at an airbnb, but again nobody cares about that either.
@sunnyc: Based on the downvotes you keep getting for spurting your terrible opinion. People seem to think you're a POS.
If houses can't be for profit, then who will provide rental accommodation to those who need it?
And don't say "government". We all know that doesn't work.
If houses are all for profit, how come nearly none of the buyers can afford one without extreme debt?
You're not profiting from renters, you're profiting from speculation & cheap debt, someone else buys your debt, making you richer. When the rates go up, & banks stop lending, no one will hold your bags, you lose.
That's why we have a rent crisis, and growing homelessness, the debt is catching up with speculators, in panic they're raising rents.
That collapses. See USA in 2008.
Also WTF does Airbnb, have to do with "provide rental accommodation to those who need it", Airbnb does nothing to help renters.
Actually a large majority of buyers don't have any debt. It takes an average person a few years to pay back a 500k loan. People with 50k salaries would call that extreme.
@sunnyc: https://mozo.com.au/home-loans/articles/it-s-official-home-b…
"It’s official, home buyers took on debt like never before in 2021"
"According to the latest ABS figures, the national average mortgage size (for owner-occupied dwellings) just tipped over the $600,000 mark for the first time - an increase of $92,615 in the past year alone."
You are a full blown moron.
LOL, you seem to be OzBargains most hated commenter: You are the downvoted king!
@checkingthisout: How does more debt have anything to do with extreme debt? A lot of hypocritical namecalling when they don't understand fundamental concepts.
Might as well find a similar article in the year 2003, 2012 and 2015. House prices surged due to demand in 2021, which would correlate to higher debt. Maybe it's extreme for you. Not for normal people. Hence why you're crying here but it's not going to change your position. If the market dropped 30% there is still going to have a housing crisis and you'd still be in the same position as you are now. Plenty of affordable places are available but you don't want them and won't do anything to improve. So you're still here calling people names and saying absurd comments. Investments are to seek profit and to see a return on investment. But hey I'm the "moron", I should be putting money into investments to seek no return and no profit.
Even if owners don't seek profits, they're just going to have multiple holiday homes.
![[eBook] Free: How to Set Up and Run a Successful Airbnb Business by Frank Eberstadt $0 @ Amazon AU](https://files.ozbargain.com.au/n/96/729196.jpg?h=669560cd)
Great. Thanks OP. Now I just need to get a house to start my own business. Easy cheesy ;)