So I stopped my Airbnb in Paris after 2 years. Here is the story.
I am the lucky owner of an apartment in Paris. While I am in a very specific situation – travelling a lot for work – that allows me to rent it on Airbnb. I have been doing this for 2 years, always trying to improve the guests experience and my scores (cf tips to improve your airbnb). Here is my takeaway (spoiler – I am stopping this type of renting in 2 months)
Here is the link to it ! https://www.airbnb.com.au/rooms/23053489?guests=1&adults=1&s=67&unique_share_id=0251f4c8-2bd7-4db7-9e99-7d6e8faba15d
Disclaimer – I am by all means no professional, and I strongly suggest to seek advice from a professional before applying anything of below
1 – Value of renting it on Airbnb versus a normal renter
I believe we need to take into account 2 important things when renting on Airbnb :
– Airbnb is taking quite the commission
– It is a busy market, and you might have no guests for a long period
While I had a maximum of 4 months of renting with Airbnb in Paris (cf your local laws), I did the maths. Having a normal rent would have made more money and it would have also been more stable from a finance perspective. (I have a mortgage to pay back)
2 – The local law and taxes are complicated
While there are specific structures to manage rental properties in France (LMNP for instance), the Airbnb rents come in a different situation.
It is sometimes hard to understand what you can or can not do in Paris.
But also, at the end of the fiscal year, it is confusing where that money should be declared
3 – Who is going to clean ? What concierge options do I have ?
While trying to automate most of management – self check in, communication, cleaning thanks to some appliances – the cleaning and the laundry came to be very challenging. Which company to trust ? Is it cost-effective ? (Some companies would provide the service for the cost of 1 night …)
I ended up counting on my parents to manage the details I couldn’t take care myself. Which has been quite the frustration as a remote worker.
4 – The stress of having no guest for a full month is real
Hello December, Hello January – Who would want to be in Paris during those cold and horrible weeks ? My apartment was empty for most of those 2 months, and I still had to pay back the mortgage. Tough months from a cashflow perspective !
5 – Superhost yes but it is still a rough market
While trying to improve the experience of the guests, I did manage to become a superhost. Yet, because I priced the night on the high end, I did not feel a bump in bookings…
6 – The olympic games and the unexpected
I thought I was going to hit the jackpot with the Olympic games in Paris, but some unexpected restrictions appeared.
Conclusion
While I have learnt a lot in managing a property, I am certainly more aware of the limits and challenges of the Airbnb approach.
I rented my apartment in Paris for 2 years on Airbnb, Now you know why I stopped.
What is your experience of it ? Reach out, I would hear to hear from you !
