Airbnb Basics in Boulder
Whether you want to market your home as a potential Airbnb or rental home or are looking to buy a suitable rental in Boulder for your bed-and-breakfast, consider a few key factors.
1. You must live in it: it must be the owner’s principal residence which means that you should live in it for more than half of the year.
According to an article by dailycamera.com, Airbnb use soared in the Boulder County area with a payout for hosts of about $14 million. Many ordinary people realize it’s a good time to invest in Boulder real estate. Experts point out bookings increased by 90 percent in the last year for stays in Longmont, Lafayette, Erie, Nederland, Louisville and Superior. Boulder is the second most active city for Airbnb in Colorado. When buying a home to turn into an Airbnb, look for ones that include private entrances, in-law suites or the “home within a home” concept. Talk to a contractor about key home improvements and renovations to make the home more appealing to guests.
Adding extra storage
When you run an Airbnb, you often need extra storage space that guests can’t access. One home improvement to make is an organizational closet system, garage storage or a bedroom conversion. Hosts often store bathroom tissue, snacks, towels, refreshments, shampoo and other items. When house hunting in the Boulder County area, work with a real estate agent who can show you homes with several bedrooms and a split floor plan. Plan to keep at least one bedroom locked off for storage.
Making the kitchen pop
Most guests appreciate a well-appointed kitchen. Making home improvements to the kitchen appeals to guests staying for a week or longer. In addition to a kitchen island for guests to gather around, consider updating the lighting fixtures, flooring and paint.
Providing outdoor living space
Another key home improvement to help with an Airbnb business includes landscaping, outdoor patio and improved curb appeal. When listing an Airbnb, it’s just as important to have good photographs as it is for people selling a home.
When filing taxes, most Airbnb hosts use a Schedule C to list business expenses. If you decide to use your investment property as a traditional rental instead, use a Schedule E. Talk to a tax accountant for specific advice, but keep good record of home improvement expenses. At Laura Guerra Real Estate, we help real estate investors find rental homes. For more tips on how to find ideal homes in Boulder County for your bed and breakfast dreams, please contact us.