possible to operate in large scale? or no
@Etahn Smith It is possible to operate on a large scale, not in Union City but in other municipalities such as Jersey City and Newark who have legalized short term rentals. The state as an entirety is open to the idea, several markets have placed 30 day restrictions that don’t make it impossible but limit growth. Feel free to reach out to discuss further. I’m working on several projects in the state.
@Etahn Smith - @James Carlson and I research airbnb laws around Denver to find out what's legal and what's not. @Michael Melendez is right to find out the laws before planning any future push. Since we do so much research on airbnb laws in Denver, we've built out a blog post on how and what questions to ask. You can find it here. https://www.biggerpockets.com/renewsblog/airbnb-what-you-need-to-ask/
I have an acquaintance in the LA area who illegally converted a garage into an airbnb. Her house is 2 blocks from the beach so a very desirable location and she kept the place occupied consistently and acquired some great passive income. She got away with the airbnb rentals for about 3 years until a disgruntled neighbor had a friend pretend to be a guest at her airbnb. The friend took pictures and soon the county inspector came knocking at her door. While this was happening, another guest (her last!) ransacked the place and stole her car! Both isolated incidents but her successful airbnb is now a memory. The powers that be want her to demolish the apartment she created and convert it back to a garage.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.