HOA Claims Airbnb Hurts Property Values
Attention Data lovers! I need some help...
I'd like to convert a long-term lease condo in San Diego CA to an Airbnb. The part of the county the condo is in doesn't require permits, however, the HOA is posing a problem. Though not currently effective, the HOA is considering an amendment to its bylaws that would prohibit Airbnb's in the complex. Their opinion and primary argument against is that Airbnb's negatively impact property values.
Fortunately the HOA Board is going to meet with me and hear my petition. Moreover, it's a small complex of 12 units so I am hopeful that they can be persuaded. I need a strong pitch to win them over though!
If anyone can point me to any real data on how Airbnb's affect property values (either for my case or against) or has any advice on how to go about this conversation, then I'd be forever grateful.
please help!
Most Popular Reply
Unfortunately, since most STRs are residential assets, and thus, aren't traded on cap rate, but rather comps using the sales comparison approach, getting this data might be difficult.