What's the catch with the AirBnB gold rush? Is it as lucrative as everyone makes it out to be?!

/ 3BNB/

I rent out and run a business that helps customers optimize their Airbnb listings to help them generate maximum ROI on their properties

Airbnb can be quite lucrative, but can also be difficult to manage and operate, and can cause operational headaches. This is why you need a short term property management company to help you achieve maximum ROI

I won't get into the profitability or how to achieve the highest ROI possible using Airbnb as that is for another post, but the “danger” is this: (please note this mainly pertains to condo buildings, or when you rent out Airbnb to compete against hotels). This is why we understand management of AirBnB

Airbnb is still in the grey area of regulation, for both municipalities, cities, condo building boards, and insurance companies (that cover the buildings themselves)

Depending what condo building you are in, and what city, you are basically rolling the dice on operating it. At any given time, you can be shut down and forced to cease operations by condo board. If you don't comply, they will force you to sell the unit. Even if the condo board approves the operations, nothing prevents a new election and subsequent board from changing their minds on it. Isn’t co hosting AirBnB hard?

So picture yourself buying a unit, operating it as a Airbnb and getting a higher ROI, just to have this happen

1.      Building Catches on and make you stop

2.      City regulations change, and you have to stop

3.      Condo board changed their bylaws

You are forced to convert the unit into a regular long term rental then, (and the economics may make no sense as an investment anymore) or you need to sell it, losing on realtor, and closing fees. Do not let this happen. As the best AirBnB management company around, we know the short term rental landscape, and regulation

To learn more about short term rentals and to get your property listed on AirBnB, and turn your rental property into a top performer, check get in contact with us, and see the steps we take yo ensure you are running a compliant, cash flow positive, stress free AirBnB