Posts with tag 'Tourism rentals'
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Should You Throw Your Hat into the Airbnb Ring?
Creating an Airbnb rental can be a fabulous income-generating opportunity, but it's not a fit for everyone. Airbnb rentals can vary greatly in your return on investment. Here's what you need to know when considering creating a nightly or weekly rental in and around Excelsior, MN.
Location, Location, Location
What kind of draw does your property have? Are you near any tourist hotspots in the area, such as a cabin near the waters of Lake Minnetonka? How close is your location to local public transport and can guests get a Lyft or Uber easily? Consider if you have parking or whether you're close to local grocery stores and restaurants. The location of your rental matters, as it can greatly affect both demands for lodging and the price that you can ask. Additionally, consider the privacy of the listing, whether it's a room in your existing home or a separate dwelling.
The best cities for Airbnbs typically have a cost of around $100 per night and are occupied over 50% of the time.