AirBnb and Assisted Living are two significant business who brings great profits. Finding a locations to start of these businesses brings some challenges. City of Tucson in last a few years has proven increasingly popular to such investments. More people are choosing AirBnb instead of hotels which will cut down their costs substantially. The income from AirBnb is 2 or 3 times more than rent in general regular rents which is still less expensive to travelers in comparison to hotels. With freedom of having most amenities, the renters have much more freedom, not to mention additional lower cost.
Tucson, has a high retirement rates with more assisted living facilities being built across the cities. Lots of residents are being converted to assisted living with substantially higher income than simply renting out your properties.
For those who are looking for additional income beyond simple yearly lease, Tucson is an excellent location to establish these two investments. I would be happy to share more to those who are interested to learn and explore this market.
Hi Ari, this is the third time this week that I have heard either of these two topics brought up. Maybe its the universe calling me to it haha. I would love to learn more about these opportunities!
That’s interesting, I’ve heard about the air bnb but not as much assisted living. So in the latter you’d provide the facility and hire the staff and? Need permits?
@Kourtni Y. I would be more than happy to share my input. Do you currently have any rental properties in Tucson? @Amie D. On assisted Living, there are two ways to do it: 1-You take charge, Hire employees, provide care, assistant, cooking, Check for proper permit with your state, get professional legal advise.....etc or 2-Provide the property to people who do this professionally and collect rent.
Hi Ari, I would like to learn more about this also. Where can I go?
@Marc Arellano , Marc, do you own any properties? Which practice is more feasible for you? 1-AirBnb 2-Assisted Living , one thing with assisted living, you need to have enough rooms, so more rooms, better it is.
Absolutely interested in what you have to offer!
What are your thoughts in the best areas in Tucson for air bnb? Thinking of dipping my toes in but not sure. My wife and I own several SFR's here in Tucson
I'd say the best areas for AirBnB would be the University area, Mountain corridor and midtown. A cursory look into what AirBnBs are available for rent in Tucson has the highest concentration of listings in these areas. If you understand the market well enough you could also do pretty well in the Foothills and Oro Valley too, as they have higher price points, rental rates and nicer neighborhoods.
I like AirBnB as a quiver in my bow, so to speak, and am sticking with Mountain corridor close to the bike path. I have previously rented out rooms in a home I was house-hacking off Alvernon, and my tenants were generally backpackers in for a couple nights and resident doctors on rotation at one of the hospitals. So in both cases an argument could be made that location isn't as important as it would be for a long-term renter.
Remember: AirBnB is a business that works as well as you can manage the rental and understand their own web/app interface. The physical property just has to appropriately cater to a tenant for a week or so, and repeat business/word of mouth marketing is all about how well kept your property is and how responsive you are to those who inquire about it.
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