Airbnb in Rhode Island

[David Ledoux]

I working on purchasing a place Rhode Island at the shore and would like to connect with anyone who has experience with Airbnb in Rhode Island. I am hoping to find a month renter over the off season and start my STR business next May. I would appreciate any insight, suggestions, tips & tricks, and/or things to avoid.

Thanks,

David

[Anthony Thompson]

@David Ledoux I haven't done this but can connect you with someone who has (who's not on BP).

Also, I don't know if @Colleen F. has done AirBnB but I know she's active in Narragansett which sounds like the kind of area you're talking about.

The best advice I can give you is, do not buy on assumed AirBnB rental rates. Make sure that you're only paying as much as you could afford to, if you had to rent out the property on a long-term rental (LTR) basis.

AirBnB is an evolving area that the state and towns are dealing with (e.g., Providence), so there could be changes, not to mention it's obviously an interesting time getting started with it during the Coronavirus pandemic. You will be much safer if your AirBnB income is extra, rather than needed, income.

Even Narragansett has special registration for rentals, though that's been more aimed at students of course. It still definitely pays to give the building department a call though, in whatever town you're thinking of buying an AirBnB.