This as-told-to essay is based on a conversation with Seth Sutherland, 30, a nurse and Airbnb cohost based in Reykjavík, Iceland. The following has been edited for length and clarity.
We sold the Orlando apartment in December because we were only making around $100 in profit each month. It was going to turn into a liability if we kept it, so we decided to cut our losses and move on.from an investor who was looking for a cohost to help him manage his Airbnbs We had a video chat with him. He really liked me, and we did the digital version of an old-fashioned handshake. We started cohosting three of his apartment units in September. We added a fourth in December and a fifth in February.This includes managing all aspects of the short-term rental, but we can customize our pricing based on the owner's needs. For example, we charge 15% for guest and cleaner communication, pricing strategy, and listing updates.
We also work on pricing strategies, where we set the prices for the nights based on the time of year and what the competition is doing. My wife spends around 15 minutes doing it per week when I'm not available, but I do the bulk. Sometimes I just need to send a quick response to guests, but other times there's an issue and we have to get it resolved.
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