Thursday, October 17, 2019 / by Gianfranco
Multi-Units typically have on average 20% vacancy rate but how would you landlords like to fill those empty 20% units up with Airbnb. Not only you will generate 2x to 3x the traditional rent but you can now increase the financial statement and value of your building just by filling up the empty units.
Today we're going to talk to you about how you can fill up your multi-unit apartment rentals. Now you are creating cashflow from how to leverage Airbnb to fill up those vacant points. Whether you have five units or you have 400 units, there might be a certain vacancy rate that you have.
If you have anywhere from 10, 30% on average, then you don't have to have those bacon. You can actually feel them up with Airbnb. If for example, you're making $40 a night on all your units and you have about 10 to 30% empty, then why not furnish them? Get some Airbnb guests in there and make $100 a night? Not only you're going to 2.5X the amount you're getting basically from $40 a night.
Traditionally, not only you're getting rid of those empty units, but you're getting more money for it. Now you're able to increase the cash for the financial statement and guess what? You're going to increase the value of the property, not just because you're generating more cashflow. And if you see that it's doing really well for you, then you may want to just turn up like a lot of them into Airbnb.
There's a lot of people that are like Airbnb. The way it's set up that they have a demand in different price ranges. You just want to do some research and find out what our, you know, what's in your neighborhood, in your area, what price points they're going for. There's a really good site that you guys can check out and find out what, what prices are you going in near neighborhoods called air DNA. It's basically the, instead of Airbnb, it's called Air DNA. It basically gives you a little, like a comparable market analysis for short-term rentals in anywhere in the, in the world. And don't think that this is going to be a difficult project to take on.
Now I have to manage, you know, 10 Airbnb units. We know a way to automate the entire system so that it doesn't really take too much of your time. Well if you're a probably got already got property managers, the only differences, these are virtual property managers, they just do it online because guess what? It can hover in moving from into the digital world, right?