I've been an Airbnb Host for over a year now as a shared space host. I love the experience but I want more. I've spoken with people who have actually leased apartments/homes and then placed those properties on Airbnb for significant profit. Has anyone else done this in the suburbs of Boston? I know with new regulations, it's nearly impossible/impractical to do IN Boston... But I feel there are areas where this strategy could be profitable.
I'd love to hear your thoughts / success stories on this!
@Andrew Beaver I think the challenges are (as you've already described) are local regulation, plus finding a property in a place where people are looking for STRs.
Almost anywhere on the Cape (Barnstable County) has potential. Anywhere with a beach has potential. Anywhere near a university might too.
I'd suggest running a search for homes that are pond/lake front and within "X" radius of schools. I bet that will turn up opportunities.
Hi @Andrew Beaver ,
My point of view is I wouldn't do it unless there are already regulations in place. For example, in Cambirdge you must live in an adjacent unit and have the space inspected by the city. In this case at least Cambridge has made the "rules of the road" known.
Additionally, furnishing units is not cheap.
I think you really need to think about your time of management, risk of regulation and potential monthly rent when considering short term rentals.
@Dan K. that was pretty insightful about Cambridge... I'm bummed you said that because I was definitely going to look into Cambridge since its not the city of boston. Furniture isn't my concern as I did a pretty great job (in my opinion) furnishing my new place with items from OfferUp / Facebook Marketplace for under 600 bucks. Everything you mentioned below furnishing is spot on for sure... I'd partner with someone equally open to the risk of the opportunity.
@Andrew Beaver My other thought is that you are going to have a very, very hard time finding a landlord that will allow you to Airbnb. Additionally, you are going to need to find some sort of renter's insurance policy that will allow Airbnb.
@Andrew Beaver I tried looking for units myself to deploy this strategy as I have two vacation Airbnb's already. A city that I feel very confidently about would be in Everett where there is not any regulations in place yet but given that the new casino is opening in June 2019, there is a large demand for unit at the moment.
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