3 Hidden Benefits of Owning an Airbnb Property

Owning an Airbnb is a great way to earn passive income. But did you know there are also additional hidden benefits of owning an Airbnb property in Scottsdale AZ?

1. Your Family Can Enjoy It, Too

Owning an Airbnb property means that you and your family always have a place to stay when you go on vacation or just want a weekend away from home. You save on hotel charges or resort fees and have the luxury of 100% availability on your schedule (depending on whether you have guests, of course). Furthermore, you don’t need to check out at any certain time and can literally make yourself at home. All you need to do is manually block out the time you want to use it on the Airbnb app. The only caveat that the government makes on rental properties is that you can’t use it personally for more than 14 days per year.

2. You Get Tax Deductions

Owning an Airbnb property entitles you to certain tax deductions on your federal income tax return. You can deduct the costs of improvement like security systems, HVAC systems, roofs, fire alarms, etc. You can also depreciate the cost of big-ticket items like furniture, refrigerators, ovens, carpeting, and more. If you have a mortgage on your Airbnb, you’re allowed to deduct the interest you pay on your mortgage each month. You can even deduct the interest paid on your credit cards if you use credit cards to pay for Airbnb expenses. Property taxes, property insurance, and Airbnb fees are also deductible. Consult with your CPA for details about all the tax deductions on Airbnb properties.

3. Friends Can Stay

If your Airbnb is located near your home, your friends have an option to use it when they come in town to visit. This makes it nice for them to have their own independent space so they don’t infringe on your family’s space. Depending upon your preferences you could either let them stay for free or charge them a small fee for cleaning and utilities during their stay.

When you consider the passive income combined with these three hidden benefits, it’s certainly worth it to own an Airbnb property. For more information about making your Airbnb a truly passive experience, please contact us today.