EP190: This Week in the World of Airbnb
Summary
This episode of Get Paid for Your Pad discusses several Airbnb-related topics. These include a new startup called Loftium, which helps aspiring homeowners with down payments in exchange for Airbnb hosting, the upcoming mandatory host registration in Paris, and a host's experience falling in love with a guest. Hosts should stay informed about regulatory changes and consider the financial implications of hosting, such as tax deductions and cleaning services.
Key Insights
- •The mandatory registration for Airbnb hosts in Paris opens on October 2nd, aimed at curbing the city's housing shortage. Rules limit homeowners to rentals of 120 days/year. Similar policies are in place in San Francisco.
- •Loftium is a Seattle-based startup providing up to $50K for a down payment in exchange for hosting a spare room on Airbnb for 12-36 months, with strict guidelines (only eight ‘freebie’ days/year).
Action Items
- ✓Consider hiring a cleaning service to maximize bookings and revenue.Effort: mediumImpact: medium
- ✓Hosts should contact their CPA for accurate information regarding Airbnb deductions.Effort: lowImpact: medium
Tools & Resources
- →Shared Economy CPA: Shared Economy CPA specializes in Airbnb.
- →Loftium: The article mentions Loftium.
Common Mistakes
- ⚠Hosts in Paris need to register to comply with regulations, or they may face penalties.
More from Regulations & Compliance
Carson City, Nevada, is refining its short-term rental regulations. City supervisors are currently reviewing and modifying the local ordinance during a retreat. This review aims to address operational aspects, potentially impacting local hosts through new or revised rules, emphasizing compliance.
A 21-unit vacation rental in Dunedin, Florida, has been approved, signaling potential growth in the local short-term rental market. This approval could lead to increased accommodation options for tourists visiting the area. This news could also influence local regulations.
St. Louis aldermen have approved a short-term rental fee, though a legal battle over existing rules continues. This indicates a focus on regulating the STR market within the city. Hosts in St. Louis should be aware of these new fees, which may impact their profitability. Find out how this affects your STR business.
Curated by Learn STR by GoStudioM