Airbnb Horror Stories - Is It Even Worth It?

Here are my worst Airbnb Horror stories as a host!

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Learn how to find the perfect market, location and type of property for your short term rental (Airbnb). This is where I always start - it's the best source of Airbnb data out there that gives you the insights you need to make informed decisions.
Airdna:
https://lddy.no/tld7

This is the software I use to manage our Airbnb/VRBO listings and also communicate with our cleaners. This saves SO much time and enables us to self manage and save thousands of dollars by NOT paying a property management company. It allows us to automate almost everything!
YourPorter:
https://yourporter.com/?r=michaelelef...

Make more money by pricing your Airbnb rentals appropriately. This will intuitively change pricing for you based on demand in the area! This is also a big time saver! Link below will save you $10!
Pricelabs:
https://pricelabs.co/users/sign_up?re...

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Other videos you may have interest in:
How To Find the Perfect Airbnb Property To Invest In:    • How to find the PERFECT INVESTMENT PR...  
How Much It Actually Costs To Operate An Airbnb:    • How Much It COSTS To Operate An Airbn...  
Passive Income: How We Became Financially Free At 27 Years Old:    • Passive Income - How We Became Financ...  
How To Invest In Real Estate With No Money:    • How To Invest In Real Estate With No ...  

I often talk about the positives and upside of owning and operating short term vacation rentals and listing on sites such as Airbnb and VRBO.

But it's not all butterflies and rainbows.. In this video I talk about some of the worst guest experiences we have had, how we dealt with them and discuss if it is really worth all the stress to invest in short term rental properties.

Most guests treat our properties with great respect, but every so often, we have some terrible guests. Anything from stained towel and sheets, trash left everywhere, and so on. But there have been a few select groups that take the cake....

Our first ever guest took all of our incidentals before checking out. They took over 900 cups worth of coffee, dish detergent, laundry detergent, soap, shampoo, conditioner, and so on. Fortunately, if guests book through the Airbnb platform, you have the ability to not only charge a security deposit, but also request money for any damage or stolen items. Even if the guest does not pay, Airbnb will likely pay you out on their behalf as part of the Airbnb Host Guarantee. In this situation, the guest paid us out - thankfully!

We have had a group of guest throw a party once, and they broke a $800 coffee table and also thought it was okay to smoke cigarettes inside the house... They were fined over $1,000 in damages and cleaning fees. They DID NOT pay us out, but fortunately, Airbnb paid us through the host guarantee! It is critically that you document every item that is damaged, and provide evidence of how much that item cost or what the replacement item costs.

One of the worst stories I have was actually a self inflicted issue... We had a backed up kitchen sink, so I thought it would be okay to use a plunger to unclog it. WRONG. I plunged the sink and it broke off the granite countertop and fell through the counter, into the cabinet... $580 later it was fixed and we were up and running like new...

I provide a few more examples in the video, but I don't want this to scare you off, if you are considering investing in short term rentals! The cash flow potential far outweighs any horror story I have experienced.