I would suggest renting out an apartment is a better option as compared to hosting your apartment on Airbnb. I feel it is one time work when it comes to renting an apartment and you run a legal check before renting out so that you don’t have to worry about the damage to the property. On the other hand, Airbnb also has its own perks. The major benefit of Airbnb is that you get a much higher rent for a short period of time. However, there are a few disadvantages of letting your property out on Airbnb. Here are a few disadvantages:
Tax - You will have to pay tax on each booking. GST charges are applied and you have to pay it as it comes under the hospitality sector
Risk of Damage to the Property - Unlike the tenants, you will receive guests from all across the world and you never know the background of the guests. The chances of property damage are less but it can not be ignored.
No Steady Income - Although you might get a much higher rent on every booking, there might be a time when you don’t get a single booking for the entire month.
Time-Consuming - Managing an Airbnb property is very time-consuming. From accepting the booking, welcoming the guests to monitoring everything is in the right place is really a task. Plus, maintenance needs to be done after every guest checks out.
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As a homeowner in India, what works better - letting out the apartment on Airbnb or renting it out?
asok
1374 Views
1
5 Year
2020-08-25T14:52:02+00:00 2020-11-11T17:10:53+00:00Comment
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