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I own a ‘dome house’ Airbnb in Joshua Tree for extra income – Business Insider

Stephanie Monroe owns a “dome house” Airbnb with her husband in Joshua Tree, California. 
They bought the house in 2020 as an additional income stream to supplement their full-tim…….

  • Stephanie Monroe owns a “dome house” Airbnb with her husband in Joshua Tree, California. 
  • They bought the house in 2020 as an additional income stream to supplement their full-time jobs. 
  • It takes 10 work hours a week from each of them, and they say it’s far from passive.

This as-told-to essay is based on a conversation with Stephanie Monroe, an Airbnb owner in Joshua Tree, California. Insider has verified her Airbnb’s revenue with documentation. The following has been edited for length and clarity. 

I have a background in law, and my husband has an engineering and construction background. But in 2020, we decided to branch into Airbnb ownership and bought our “Serenity Dome House,” as we call it, in Joshua Tree, California, right before the pandemic as a deferred retirement job. 

In 2020, our revenue was up approximately 60% from the previous owner’s 2019 earnings. In 2021, our revenue was up 87% from 2019. Today, we’re trending about 55% higher than 2019 for 2022.

We live in San Diego and wanted to be within two hours’ driving distance of the property. We searched surrounding SoCal areas, and we found that Joshua Tree was a good location to look into because it seemed to not have as many rentals and hotels at the time. I really wanted a dome house because I liked the architecture of them.

There were only a handful of dome houses on the market during our search, but what really drew us to this particular one is that it doesn’t have a second story or loft. When you go in there, it’s a 1,000-square-foot circle with a tall ceiling. It feels like it has a bigger capacity.

Joshua Tree also had a lower buy-in compared to other places in Southern California

At the time, the area had a much lower supply of rentals, so you could get a higher nightly rate because of the demand. That’s quickly changing.

It was hard on the host front, especially because I had to learn how to be a host and have guests during COVID-19.

During the pandemic, everyone was running to the rural areas, so the demand was extremely high. Investors started to come in, scrambling to buy every property and piece of land for  development. Because of this, the supply has really gotten saturated.

Now, people are starting to do international and big-city travel. The demand here has dropped, and it’s really changed the competition. There’s also a lack of long-term rentals in Joshua Tree, so there’s a labor shortage. People are moving away because they can’t afford the area anymore.

Now you can’t get house or pool cleaners, and everyone’s fighting for …….

Source: https://www.businessinsider.com/i-own-airbnb-extra-income-desert-dome-house-joshua-tree-2022-8

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