There is no doubt that Airbnb has changed the travel industry for good, as many choose this way of staying.
By becoming an Airbnb host, you can diversify your income without having to be a real estate expert.
The rise in popularity of Airbnb has increased the demand for real estate investment.
If you are looking for passive income, a real estate investment can be a good option.
Especially for Lemnos where there is an increase in tourist demand for a short period without at the same time there are many beds in hotels and rooms for rent, AirBnb is a very good investment.
But what is the difference between a traditional investment property and an Airbnb?
A property is considered an Airbnb investment when part or all of the property is rented out to Airbnb after purchase.
These rentals are usually short-term, which allows you to host many guests throughout the year, where traditional investment properties are usually rented to long-term tenants.
Running an Airbnb involves many unique costs to consider, including:
Furnishing and decoration of the property
Investing in a short-term rental: Pros and cons
These rising standards can also lead to some significant advantages and disadvantages:
-Potentially higher profits
-Less dependence on long-term tenants
-Advertising on Airbnb means less effort to find renters
-High upfront costs due to furniture and decoration
-Potentially higher operating costs
-Less security than long term tenants
-Managing an Airbnb is essentially a second job