Short Term Rentals/Traveling Nurse Rental

[Javier G.]

Hello all,

So I built an ADU on my property in Socal, my initial idea was to airbnb the unit as I live very close to an international airport and I thought this would be a good approach.

As I went through the process, the city made me register a new deed with the County laying out all the rules for the unit. One of those rules requires that the unit could not be rented for periods shorter than 30 days. In essence blocking my idea of renting it through airbnb. 

I have a few questions and I am looking for anyone knowledable on that subject. Any feedback would be greatly appreciated. 

Like what would happen if  I continued and rented the unit on airbnb against the city’s rules?, are there any loopholes that could be taken advantage in order to still do short term rentals through Airbnb? 

Also, lately I have been hearing about short term rentals for traveling nurses. Does anyone know a good website to learn more about those types of rental? 

Thank you in advance for any feedback. 

[Dan H.]

In San Diego they are placing STR quotas. The quota includes a limit of one. I am interpreting this to be per person and that there is not a marriage penalty. We have 3 San Diego STRs (one has been out of commission for an extended period of time but hopefully will enter the market soon). This implies we will lose one (hopefully only one) STR.

I had a PM do a projection on rents/income for a 30+ day rental at the STR unit that we would transition from STR and his projections showed it would perform better as an LTR than 30+ day rental. We may choose to make it a 30+ day rental and see what happens but if the projections are close to accurate we will have worse cash flow and be providing the furniture, etc. however, we will hav3 a unit for guests, family or us to enjoy.

Get someone with experience to provide you a projection before you proceed with the 30+ day rental.  It could save you from furnishing a unit that would perform better as an LTR.  

Good luck