Listeners Q&A for 8-22-22 – Epi-3150 — 5 Comments

  1. Short term rentals- My husband and I built a garage apartment in central Austin on our property. It was a great experience. Good investment and fun. However, we were mostly retired. I’m not sure someone with yours and your wife’s workload could manage the bookings and cleanings if it’s busy like ours was. We investigated a service and they wanted 17% to manage it. It would not have been profitable in that case. Definitely recommend only renting to couples (no children or pets) and one bedroom. Otherwise way too much laundry and destruction. We had it 9 years and only had 2 less than perfect guests and all 5 star reviews except two 4 star in all that time. Managing and cleaning it ourselves was probably why we were so succeeded. We used Airbnb and VRBO but I would also recommend eventually having your own website. Those services became more and more of a rip-off to our guests as the years progressed. Once you have a good history your repeat guests could come to your own website and save on the ridiculous fees. Good luck with yours should you decide to do it! Carol

  2. I would never rent a room in a large multi room house. Probably a shared bathroom situation too. Very noisy also. Some people like to party. Plus, you have people checking in and out at different times and cleaning services roaming around. I own my home which I currently live in. I rent out a room and private bath so I’m at one end of the house while guest are at the other end. I am not a resort destination either. I get guest who come for work related visits, weddings, family reunions, concerts, football games (Michigan), visiting friends. It’s a small part time hustle for me and I never even have to leave the house. I tell my guests I’m a motel clerk of a one bedroom motel. It’s not for everyone but it works for me.

  3. Oh heck Jack, I don’t know. Even if you didn’t have a lake and just had some tiny houses, people would still come for various other reasons.

  4. Regarding your tiny home concept, I had two ideas.
    1. What about having someone come and give a workshop on how to build a (for example) foamcrete tiny home? Once one was built, then every 6 months, have another workshop to add another. And so on, until there were as many as you wanted.

    2. This idea is more out there. But what about making a sculpture garden to make your property a sort of special destination. Do a search for famous sculpture gardens to get an idea of what this could be.

    Just some ideas for what they are worth.