Avoid unpleasant surprises at tax time by understanding the tax implications. A 1031 exchange might be available if the vacation rental property has been used solely for investment purposes. If the vacation property was used exclusively as an investment, it may not be eligible.
A property listed on Airbnb will fetch you much more than its property value if it is placed in the right market. Selling an established business is a good idea.
It doesn't have to be done by you alone. You can get the help and experience of professionals who are familiar with how to transact property in your area. Hiring a professional will help you save time, money and reduce stress.
You might not want to sell your property, even if you've achieved Superhost status. You can keep your Airbnb URL, reviews, and status. Only need to change your bank account information.
You need to be familiar with the tax implications of vacation rental sales in order to avoid unexpected surprises when tax season comes. A 1031 exchange may be possible if the vacation property was used as an investment. It may not qualify if the vacation home was used as a primary residence.
Photographs of professional quality are not only an effective way to increase listings on Airbnb, but they also help you increase your earnings. Your photos should be high quality and stand out so that potential buyers are more likely to inquire about your Airbnb property. Although hiring a professional photographer is always the best option, it's possible to also shoot images with your mobile device.
Consider including pricing spreadsheets and any other information you may have to run your vacation rental business in the sale. Perhaps you created a detailed house guide with great tips and information about the local area. A detailed list is a good idea for housekeepers and cleaners to use when cleaning up.