ABOUT
Alex and Liz Hall were considering buying a home in 2023, but as a young couple, they found it impossible due to high housing costs and interest rates. However, they stumbled upon a perfect starter home with a basement apartment that would help with their monthly mortgage payments. They are now living Modern American Dream, with strangers paying for their mortgage each month while they dabble in real estate investing.
Our Case Study
Transforming a Long-Term Rental into a Profitable Short-Term Stay
01
Transitioning to a Short-Term Rental
We transitioned our basement from a long-term rental to a short-term Airbnb to target outdoorsy couples visiting North Ogden, Utah. This allowed us to attract a niche market seeking a cozy, well-located retreat.
02
Aesthetic Upgrades and Market Appeal
After spending $2,482.51 on aesthetic upgrades, we revamped the space with nature-themed decor and practical amenities. These changes made the rental visually appealing and helped it stand out on Airbnb.
03
Increased Income and Occupancy Rates
The short-term rental now generates an average of $1500 per month with 50%-70% occupancy, surpassing the $1150 earned from long-term tenants. This increased income, along with greater flexibility in using the space, made it a more attractive option.
04
The Benefits of Short-Term Rentals
Short-term rentals provided a more flexible, less stressful alternative to being full-time landlords. We now enjoy a balance between hosting guests, earning more, and using the space for personal needs.