I've been a furnished Airbnb operator in NYC since 2013 and ever since hanging out with J Martin at BP meetup in NYC, I'm allocating focus on scaling up. For the life of me I'll never know why I never thought of doing 30 day+ rentals which essentially is the loophole which allows operators to run AirBnB properties legally as long the owner is ok with it (if you're the owner, I hope you approve yourself :) ).
Current NYC governance has made it clear countless times they don't want AirBnB in this town however with 30 day+ rentals there isn't much they can do about it even when the entire home/unit is rented. Sure, at this point in many areas guests are entitled to Tenant rights and this is definitely something to think about, however from the experience of many other hosts, the likelihood of someone to squat in the property is very low. It does happen. Ive read on one forum in BP about a landlord renting her unit on AirBnB and some crazy eastern european hackers squatted in her place. But is this risk greater than the risk that comes along with traditional rentals? I don't think so. These are a few points to think about. Overall I think there is a big opportunity in this area, even and ESPECIALLY in NYC.
Let me know who else out there are the investors with nerves of steel playing in the concrete jungle that is NYC and do connect with me!
What are occupancy rates like on AirBnB for 30 day+ , entire unit rentals in NYC area? Analysis software such as Everbooked, AirDna & Mashvisor provide many statistics but do not have an option to sort out properties by "number of days" booked. This makes it very hard to analyze properties for their 30 day+ entire unit feasibility. Anyone have any ideas or insights?
hey, can you clarify? so nyc is cool with 30+ day rentals only and that's what you're doing? i heard about the new rules, but i'm fuzzy on what is allowed exactly.
do you own an apt or a whole building/house?
NYC is cool with the following:
ANY length of rental as long the host is present. (Need owner approval)
30 day+ rentals on ANY kind of property and the entire unit can be rented without the host present. (Scalable)
I don't own, my strategy has been rental arbitrage. What is your experience?
if you're doing rentals and then sub-renting on airbnb, how does the landlord feel about it? and the other tenants? just curious how it can be sustainable.
my only experiences have been staying at friends places who were airbnb-ing the other parts of their apartment, but were in hot water with their landlord and the neighbors for doing it. this was before the new rules.
we own airbnb rentals, but in the country, in Virginia. so things are much different out here.
we spend a bunch of time in NYC though and were wondering how the new rules affected hosts.
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