AIRBNB Asbury Park Minimum Stays

[William Kwong]

Hey BP Fam, 

Came across a multifam in Asbury Park. I plan to owner occ it and do a mix of STR/LTR /live there. Anyone have experience in airbnbs in the surrounding area and what people do in terms of pricing strategy in off-season? Looking on pricelabs and others, seems the consensus with top 10% do 30-60K gross yearly. I'd be doing full-blown reno on the place as well.

Trying to assess the best strategy on what people are typically doing whether its 2-4 night min stays during off-peak with lower occ or is it typically MTR / 28+ day stays until summer? Trying to get a general sense of the shore towns and how they structure their airbnbs & if its profitable. Thanks all!

[Michael Baum]

Hey @William Kwong, so you didn't say how big the place is but there are some restrictions on STRs in multifamily there.

For example - 

Not more than two separate units in any multifamily residential dwelling, where
one other unit in the same dwelling is occupied by the owner and identified by the
owner as his or her principal residence, as that term is defined herein;

So it appears, if it is more than a 3 plex, you can only STR 2 of the units in total. There are other regs as well. Here is the PDF.

https://www.cityofasburypark.com/DocumentCenter/View/5831/Sh...