![]() There are different rules in different jurisdictions. Properties that are beachfront or in downtown areas have been able to maintain and sometimes grow their nightly rates even as the competition has grown.Īnother thing you have to be really careful about are the local laws and restrictions on short term rentals. 1 thing as with any piece of real estate is location, location, location. There are a lot of people just out there randomly buying properties because they think they’re gonna make a bloody fortune. The demand has grown but nowhere near enough to keep up with the growth of the number of units. In the last two years there’s been an exponential explosion in the number of Airbnb properties available for rent. ![]() How much has the short-term rental industry grown since you first got started? Why don’t we just expand the Airbnb business and manage properties for people who live remotely?’ We started four years ago and we’ve been adding two properties a month ever since. After I retired my wife got a little sick of me being home all the time. I retired in 2019 but I have about 25 years of experience in property management in the multifamily marketplace. So we did and lo and behold, it took off. We built a 1,000-square-foot apartment behind our garage and each of them lived there at one point.Īfter both of them passed away we were sitting with this empty space in our house and wondering, what are we going to do with it? Somebody suggested we put it on Airbnb. My wife Carol and I built an addition to our house so my mother and her mother could have a place close to us to occupy as they got older. What inspired you to start this business?
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