AirBnb in Cleveland OH

7 Replies

Hi Everyone,

Trying to gauge the demand for short term rentals in Cleveland OH.  I would need to gross $1200 per month on a 2 bedroom condo in Detroit Shoreway to break even ( due to the high taxes in Cleveland and $150 per month condo fees). 

Anyone doing AirBnb in Cleveland with success?  Which site do you recommend using for Cleveland vacation rentals?  

Is it legal?? 

Is the HOA STR friendly?

Is the building warrantable or non warrantable? 

Why 1200? It’s got to make a decent amount for it to be worth dealing with guests 

Are you planning to self manage? If not don’t bother 

In my market Airbnb and VRBO are king 

Feel free to reach out I’m always available for free help on the phone 

I would look at Vrbo/Airbnb properties in your area and see how full their calendars are and what rates they are asking for.

  • I would look on Craigslist and see how many other people are trying to promote their STRs, and how much they charge. Also see what they have to offer.  You should offer more and charge the same.
  • That's what I do with my STRs vs local motels.  I charge the same as they do but offer more.  All the people I rent to are on a budget dictated by their per diem.
Originally posted by @Donald Miller :

Hi Everyone,

Trying to gauge the demand for short term rentals in Cleveland OH.  I would need to gross $1200 per month on a 2 bedroom condo in Detroit Shoreway to break even ( due to the high taxes in Cleveland and $150 per month condo fees). 

Anyone doing AirBnb in Cleveland with success?  Which site do you recommend using for Cleveland vacation rentals?  

 Many of the suburbs in the Cleveland area are either outlawing them or putting major regulations and restrictions on them. The short term rental industry never interested me so I never looked at it too hard so I don't know if Cleveland itself is outlawing them but I'd imagine if a lot of the burbs are Cleveland will eventually do the same.

I have some friends that do Airbnb in Cleveland, and they are having success. The Short Term Rental market is growing so fast, it is hard to imagine that you would not be profitable. I read an article yesterday that said Airbnb bookings have increased 97% (year over year) from 2018 - 2019 in 100+ cities in America. So it is growing everywhere, not just in big cities.

Look at AirDNA.com for your area, and see how many listings there are, and what they are making. 

If you are still unsure, than just do a 3 - 6 month trial. Instead of buying furniture, Rent a package of furniture, and see If you can make enough to make it worth it. After a few months (when you are making $3,500/month), then decide to invest in buying a furniture package, and return the rental stuff. 

Don't bother returning the rental furniture and buying new.  Just buy the rental furniture where it sits.