Short term rental in New Haven, CT

Member since 2021 · 6 posts · 3 votes

Hello,
Does anyone have any experience in short term rental in New Haven in Connecticut? I am looking at a purchase in the Amity area in New haven. Yale University should have a lot of seasonal programs (commencements, games, etc) which could mean parents of students visit from outside and need a single family home to stay. This might make this a good opportunity. I am wondering if anyone has explored this thesis before me and what their experience has been?

Would also be happy to hear from investors who are renting out in New Haven.
Thanks!

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Rick BassettBusiness Member

Property Manager · Greater New Haven, CT · Member since 2010 · 377 posts · 434 votes

Have run about 6 STR's in Greater New Haven since 2017, as you mention, there are times when the demand is strong (usually in May @ graduation time and July, or August). Some Cities like West Haven do have restrictions on STR's and others handle the restrictions in a different way; such as 3 or 4 maximum number of unrelated people in a home. Read those zoning rules...don't rely on agents.

475-900-3100

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Michael BaumPro Member
Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
3y
Hey @Shrideep Murthy, have you called the city to make sure the area you have chosen is OK for STRs? I know that CT has been talking about regulating STRs via zoning so you need to check.
Also, call Yale and see what they say about the need for short term housing for visiting professors and for parents during all the events.
I am sure there will be a need. Ask if they have a list of places they maintain for both parents and traveling educators. Get on it!
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Shrideep Murthy
OP
Member since 2021 · 6 posts · 3 votes
3y
Thanks, @Michael Baum for pointing this out. Is there a good place to check out what the regulations are for a particular city? I saw multiple options listed on Airbnb, so I was thinking STR's would be okay.
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Michael BaumPro Member
Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
3y
Usually their website or call the zoning department to start. You have to do the leg work most of the time.
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Zach Edelman
Lender · New York, NY · Member since 2022 · 1k+ posts · 1k+ votes
3y
Shrideep, I know that Air DNA just ranked New Haven, CT as the 7th best place to invest in STRs heading into 2023, so seems like you're investing in a strong market.
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Shrideep Murthy
OP
Member since 2021 · 6 posts · 3 votes
3y
@Zach Edelman - Thanks for that info. Makes me feel much better!
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Shrideep Murthy
OP
Member since 2021 · 6 posts · 3 votes
3y
@Michael Baum - spoke to a few agents in the area and all of them said they have not heard anything on the lines of STR not being allowed. Nothing on the city or county website too. Wrote an email to someone in the housing department and have not heard back.
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Michael BaumPro Member
Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
3y
Ok @Shrideep Murthy, just be sure before you move forward.
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Rick BassettBusiness Member
Property Manager · Greater New Haven, CT · Member since 2010 · 377 posts · 434 votes
3y
Have run about 6 STR's in Greater New Haven since 2017, as you mention, there are times when the demand is strong (usually in May @ graduation time and July, or August). Some Cities like West Haven do have restrictions on STR's and others handle the restrictions in a different way; such as 3 or 4 maximum number of unrelated people in a home. Read those zoning rules...don't rely on agents.
475-900-3100
Bassett Property Management5107 Reviews
Website View Page
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