I'm looking to develop a system for finding Landlords friendly to Airbnb, ideally in:
Boston, Chicago, Philadelphia, Washington DC, Austin, New Orleans, Miami, Denver, New York, Seattle , Los Angeles, Savannah
Anyone interested in collaborating, feel free to reach out.
What exactly are you looking to do? Are you trying to manage already existing Airbnb properties, or are you looking at subleasing?
I would be interested to hear how your numbers work out on this.
Friendly is not a word commonly associated with airbnb in New Orleans. It would not surprise me one bit to find a burning cross in the front yard of mine. We are the devil and we are tearing the very fabric of the city to shreds. It's pretty intense. Last year the City began regulating here but the haters are still fighting to overturn some of the rules that they feel do not do enough to keep the numbers down. Some people decided it was just too hot in Orleans Parish so they went into the suburbs of Metairie and Kenner. Just yesterday those were squashed by Jefferson Parish, they completely banned str's except in a few commercial areas. Just saying, if you try to play here, best to learn the landscape first.
You can't use the words "AirBNB" and "friendly landlords" in the same sentence, unless the sentence is this: There are no friendly landlords that will let a person sublet out their property for AirBNB use.
It's like borrowing someone car, then using it for Uber 12 hours a day. Then letting your friend use it for Uber another 12 hours and then repeat.
^^^^ What he said. I also wouldn't Airbnb in an inner city. At all.
I don't know how to do it other than a lot of calls or emails to landlords. This is a volume game. The majority will turn you down as @Paul Sandhu and @Lucas Carl said. Some will, as @Kimberly Jones said, probably go apeshit on you for "ruining the city." But you only need a few to say yes.
I know that I have received a few calls from people who come to my Airbnb classes here in Denver who ask if they know anyone willing to rent their place for a bit over market and they would allow the "tenants" to Airbnb/short-term rent the property. So it's not impossible.
What about hiring out an overseas virtual assistant to make calls or send emails to landlords? I'm not sure how you get a list of landlord contact info, but maybe they just scroll Zillow and Craigslist, etc.
If I can help in any way in Denver or Colorado Springs or along the Front Range, let me know.
Given the tough AirBnB laws and extremely strong hotel lobby in New York (NYC specifically), you'll have a tough time finding a suitable unit here. I do know a few people who have been lucky enough to hit what I consider the perfect storm in the NYC AirBnB world: a decent apartment at a below market rent in a desirable area with a landlord who is either absent from day to day operations or simply doesn't care about the potential penalties associated with tenants subleasing.
A landlord would be a fool to rent to someone for airbnb for "a bit over market". If you want to get landlords on line you better dig deep and make it worth their while.
Try full rent plus 50% of airbnb profits.
@Noah M. you can also try reaching out to developers to list unfilled inventory.
@James Carlson Yeah the overseas VA was an idea I had - I just need to develop the funnel and train a couple to begin reaching out. Good idea on the developers.
@Paul Sandhu it's not really like that. Guests don't use appliances nearly as much as someone who lives there full time, so depreciation on appliances is lower. Plus guests are in the game of getting the 5-star rating the same way hosts are, so they behave themselves and take great care of the place. If you screen correctly, guests actually take better care of the apartments than long-term tenants.
Also really depends on how you approach the landlord, but yeah it's not easy to find ones who will allow it.
I put together a couple of docs to convince the property management company at my complex to allow airbnb. One was like a host guarantee for what standards to follow (guests have govt id, damages will be covered by me, etc) and the other was a pros and cons of airbnb and how to mitigate the cons. It didn't totally convince them, but they warmed up to the idea.
I think providing landlords with a structured approach and give them reassurances for some of the common myths of short term rentals (every guest is going to destroy/steal their property) then it could up the number of interested landlords. if you give me your email, i'll send the docs over
Great job in taking initiative. Most people would not even try for fear of failure. I got a landlord in NYC to allow me to AirBNB despite really strict NYC restrictions city wide because of a referral from a broker friend who knows how I operate.
Establishing good connections with brokers can be an excellent way to begin those conversations because the person who is trusted by the landlord vouches for you. You dont even need to sell yourself at that point.
I agree with @Tyler Work
Also it might not be worth using your time to convince landlords to do this vs finding motivated landlords who have vacant units who have a financial commitment coming up.
These other landlords will just hear you out but wont take any action because they are doing fine with the current business. They wont change something thats not broken.
Find motivated landlords
@Syed Lateef - this is an excellent distinction.
Noah - just FYI
City Council plotting Airbnb crackdown
Hey @Noah M.
I have a system for finding landlords that allow Airbnb and I have signed leases for over 50+ units where the landlord specifically allows a sublease for short-term rental. I have found landlords of SFR's and developers of 300+ unit properties. I can tell you from first-hand experience that what you want to do is possible.
The major obstacle is knowing the market that you want to find these properties in. If you aren't completely knowledgeable about the local regulations and atmosphere surrounding STR, the Landlord will most likely be uncomfortable talking to you. Good luck and feel free to send me a message if you want to talk further.
I'd be interested in learning more about the system you're using. I've been looking into a couple different ones, but each comes with a certain cost of entry, so to speak. My wife and I run an AirBnB house in central Oregon, and it's been reasonably successful (bought it last August, had some short-term renters in it through the winter, then jumped right into full-time AirBnB in January). We're discussing doing a rent-back model for our next rental or two, but want to make sure we have most of our ducks in a row for that before we get in too deep. Any advice or recommendations would be greatly appreciated.
The term you are looking for is a “master lease”. Once established it allows subleasing of the property
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