I'm an Airbnb multimillionaire. Here's why I'm optimistic about the platform in 2023, and my best advice for renters to weather the economy.
Rental arbitrage, or renting out properties without owning them, is how I got my start as a real-estate investor. You have the potential to make much higher returns than you would buying and then renting, but you do have to make sure you get permission from your landlord to sublease a unit first.During a recession, some of the first expenses people tend to cut are travel and unnecessary luxuries.
Corporations will still need to facilitate travel during a recession. I would also make sure your listings offer business amenities, like a desk, office chair, and printers.Even though we're likely headed into a recession and will see a dip in travelers, I'm still very optimistic about Airbnb in the new year.with Greystar and other big landlords. Now, those management companies can list properties that can also be used for short-term stays, which will ideally bring in more hosts.
Airbnb has revolutionized the travel industry, and in my opinion, the demand for Airbnbs isn't going to go away anytime soon. Many people will always prefer to have more space for the same price as a hotel, especially if they're traveling as a family. Having access to a kitchen is also a big perk for many people. Plus, staying at a hotel often comes with various extra costs — parking, resort fees, etc.
There are always strategies Airbnb hosts can take to pivot in an unstable economy and come out successful on the other end — it's just a matter of investing wisely, knowing your audience, and adapting as you go.Sign up for notifications from Insider! Stay up to date with what you want to know.
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