Airbnb in Wisonsin and Milwaukee?

Question

Who on here is actively looking into the short term rental market in Wisconsin? I have been hosting on Airbnb in Madison for the past 4 years and looking into expand into other areas of WI. I am looking to purchase and also cohost for other investors. The Milwaukee market seems to have favorable regulations, but from looking at the Airdna data it seems most lake homes through out central WI can have a lot of potential. I am curious if others are actively buying in this area with the intent of the property being an STR? If so what specific areas are you targeting and how are the regulations?

Brandon Palmer · Answer

Hi Adam -- I've seen a healthy number of requests for shorter-term leases for the SFR properties we own (around Madison) -- mostly due to "we just sold our house and are looking for a new house" (or are building).

Adam Kindwall · Answer

Madison's regulations for STRs are not great unfortunately. This is why I've been looking to expand into other areas of WI. The potential revenue that STRs can bring can double if not quadruple what is possible with a long term lease. It is a bit more hands on for daily operations though. You could certainly offer furnished monthly rentals for a greater rental price. The Madison regulations only apply for stays shorter than 30 days.

Robert McAllister · Answer

I am looking west of the Dells area. The Dells itself is far to strict with detailed reporting monthly of guests to the Lake Delton village, and 11 other pages of requirements. No thanks! State of WI by itself is just enough. :)

Adam Kindwall · Answer

@Brock Mogensen I believe you are correct. From the research I have done with the Airdna data those are pretty solid locations. I would add that extending into the Bayview area would have potential as well.  I am also looking at the Wauwatosa area near Froedert Hospital.

Brock Mogensen · Answer

I have yet to do any short term rentals but Third Ward and Walkers Point area would be good if you decide to target Milwaukee.

Airbnb in Wisonsin and Milwaukee?

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