Extra retirement income
Hi Terry I am 1-1/2 years from retiring and for extra money in northern wisconsin I have a new cottage that I was thinking of renting on Airbnb . I feel it’s in a great area for all outdoor activities plus it would keep me busy while I also live in Chicago area close to grandkids. What is your opinion on Airbnb and doing this in retirement? I want to do it but also very cautious in starting. I am anxious to hear your thoughts. Thank you.
Terry Says
It works for many people. You get to set restrictions on the rental –ie number of children, whether pets are allowed. You’ll also need someone to clean after every renter leaves. And you’ll need to secure any personal items. Perhaps you can lock off your own bedroom if there are enough others to make the place attractive. And leave instructions re the bbq, boat, or other things you want to include.
A few years back my brother got married at a neat destination. We rented an airbnb house — and it was wonderful. The offered use of their boat, etc — but we were so busy with wedding festivities that we never did get to use it. They asked that I leave a copy of my book for them, which I was glad to do!!
I think the secret of doing it right it pricing it high enough and demanding info on the guests, so you’re not hosting a drunken bachelor party! Check guest references.
