What to look for a STR

[Moazzem Hussain]

Hi

I'm looking for a short term rental around the Finger lakes region. We have family in the Greater New York Area and the Greater Toronto Area and looking to buy a STR that can also act as a vacation home when not in use for our families.

What areas should we be looking at?

Ideally wherever we buy it would have bookinga year round. So A place with ski or winter activities would be nice. Id also like a place where a restaurants and other activities are available close by. 

Also any thoughts on if this area is saturated? What size house does best in terms of getting listings? What features are worth it and whats not? For our own needs we'd at least want a 4 bedroom house. 

Are there also manamgem companies that people recommen? Wed like it to be as handsoff as possible as we'll be remote owners with occasional use of the peoperty.

Any other pointers, lessons learned, etc. Would be great.

[Michael Baum]

Hey @Moazzem Hussain, first thing I would do is get on AirBNB and VRBO and look in each and every area that you are interested in.

See what is there. What are people charging? What is their occupancy look like? How about amenities?

Plus hit up the county/city zoning sites about STRs and make sure they are allowed. There are pockets of restrictions all over the area.