Is AirBNB a viable way to invest in a property in BGC, Philippines?
Is AirBNB a viable way to invest in a property in the Philippines?
There have been calls in the office asking for recommendations for Airbnb (particularly in BGC) units, pertaining to properties they can buy so they could rent it out on a daily, weekly, or monthly basis.
Some questions are raised:
Is this the new model when buying a property that you still don’t need?
Is this the new best-buy in the market?
Is this the best judge in valuing a unit?
NOT ALL UNITS ARE EQUAL
While some units may rent for such and such, the same duplicate (in size and building location) unit could fetch for higher price or lower price depending on other factors listed below. The view, the orientation, the smell, and the vibe of the unit all contribute if it will be rentable again and again. Even by the same tenant. Some Airbnb users have been wowed by some units that think of the small things that they need in their short term stay. In Tagalog, they say pinagisipan ng husto. This is a state where the owner most probably a traveler also, would think of the various needs his/her guests would be needing. This brings a smile to the guest/s.
NOT ALL HOSTS ARE EQUAL
There are hosts that they themselves are the ones taking care of their guests, but most of the time, they have an assistant that acts as the concierge of the guest/s. Depending on how these assistants have been briefed, or have the necessary experience in handling the business, will spell the speed of requests are facilitated or not. What I have seen amongst Superhosts is that they themselves manage the unit, and leave nearby (sometimes in the same building) as their property. This makes coordination much simpler, and the process much smoother as accountability is also at its highest. Poor Hosts are those that can’t be reached and have not given anyone authority to fix common trivial matters in renting units.
NOT ALL EXPERIENCES ARE EQUAL
The Airbnb guests start with having an alternative to expensive hotels. The exit experience should be like going to a 5 star hotel but paying just around $40/night. We have superhosts that are well loved by their guests that every time their guests are here, they even have pasalubongs (bring home items)for their hosts! We have known guests to stay 1month to 3 months to these types of units because they feel safer, happier, and a full blown superstar !
Those three items have been the haven of Airbnb users. And when they find one, rest assured that the booking will always be high.
The idea of making money in Airbnb is indeed mouth-watering but can you do the works?
Or maybe you can have your Airbnb managed also? There are companies who can do that in BGC.
There are companies who also sell units that can be used for Airbnb.
Just remember, not all real estate brokers are equal. Find one with a good reputation, and industry knowledge prior to making that partnership.
Do you have a property you’d like to sell? Is your price correct? How much is your property worth today? Call us for a FREE PROPERTY APPRAISAL.
RE/MAX PREMIER REAL ESTATE MANILA INC.