Real Estate Agent · Chicago, IL · Member since 2017 · 2k+ posts · 2k+ votes
See below photo. August is looking to be our best month. We definitely noticed a slump vs last year earlier in spring and each month since it has been picking back up. This is a 2/1 in Avondale that is nicely rehabbed. Up to July 1 we made $25,541 breaks down to $3648 a month. The unit would normally rent in the $1850 range. The chart does not subtract cleaning fees which run roughly $500 a month on average, still netting +$1300 a month over LTR. Airbnb in Avondale is proving highly profitable option.
Hey @Henry Lazerow - Our Chicago Airbnb in logan square is on the up and up as well this year. I am checking with our internal pm to see what we are at YTD and will share.
I did notice that the city is now requiring bank statement with the actual address not the address you are living in (if you were doing a 2 unit househack) which is new this year. Also no utility bills....has to be bank statements.
This will continue to contract the market boosting still available airbnbs.
Yes, agree that will for sure reduce supply and bring airbnb rents higher. I advised several of my clients they need a bank account could be any free online account with unit number on it now and to get it ready in advance for when the renewal comes up.