How we're using AirBnB to fund our vacation property by Melissa Verspeeten

Posted by Finally Home Team on Wednesday, December 5th, 2018 at 11:11am.

When my husband and I purchased our cottage in 2017 we did so with the intention of spending as much time as possible there, making memories with our kids. I spent every summer of my childhood up north with my family; boating, swimming, spending time with friends, and when Colin and I first got together I introduced him to that lifestyle. Now he’s just as hooked as me! That being said, neither of us is able to be there 100% of the time so we decided in an attempt to cover some of the costs of carrying the property we would rent it out during the times we aren’t able to use it ourselves.

Although we’ve owned plenty of real estate over the years this wasn’t an area either of us had experience with, so I turned to friends and colleagues to get their input on what was working (and wasn’t) with regards to the vacation rental market. There are several platforms but the overwhelming great feedback I got about AirBnB made it a clear choice.

And so it began, we created our listing and had bookings and inquiries within hours. We wanted to be able to use the cottage as much as possible ourselves so we were quite selective about the amount of time we allocated for rentals, but with the response we received we were confident that we would have no trouble renting it for the entire summer!

Everyone we've had the pleasure of hosting has been very respectful of our property and belongings. We’ve thoroughly enjoyed meeting some amazing new people through this adventure!

In the spring our plan is to have it fully winterized which will allow us to rent it during some of the school year and winter months. We’re located a couple of hundred yards from the Sequin snowmobile trail so that should help fill up our winter bookings :)

Here’s a link to our little piece of paradise https://bit.ly/2E1vtO3

AirBnB is a great platform to earn extra income on space you aren’t using. And remember, it doesn’t need to be an entire home, you’re able to rent spare rooms in your home or an unused granny flat. Get creative, AirBnB just might allow you to fund your next family vacation! Or save a downpayment for your next investment property ;)

Always be sure to check your local bylaws before starting anything. If you have any questions please reach out, I’m happy to pass along my experiences or help in anyway you need.

 

 

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