Rent or Airbnb
Looking for some advice. Should I rent or consider Airbnb. I just finished construction of my one bedroom basement and I am torn between renting it out at $1200 (inclusive of utilities except power, basement has it own meter) or putting it up for short term rental on Airbnb. A neighbor running Airbnb beside me says she nets about $2k monthly after paying off the power bill. My Dilemma is this are as follows 1. I do not want and can’t take on the headache of cleaning after the guests, meaning I will have to contract the cleaning out. 2. I am a single mum with a busy life between my job and kid. 3. My effective tax rate is 47.5%, so am I really better off paying more in taxes even though I stand to make a bit more through Airbnb. 4. I am based in Regina, would this kind of income from Airbnb be consistent year round? (Will appreciate anyone with Airbnb chiming in on this )