Airbnb Regulations in Pittsburgh and greater Pittsburgh
Hello, Pittsburgh investors! I just moved here a couple months ago from Chicago. There, I flip small multi family property for the “house-hacker” market and hold a portfolio of a income property. In one of my Chicago buildings, I have an Airbnb unit in operation that is outperforming standard 12 month rental income (on pace to perform beyond 140% of standard rent for 2018).
I love the enhanced Airbnb income, but, there’s regulation / ordinances in the City of Chicago that add risk to scaling an Airbnb portfolio there.
I wish to understand the landscape here in Pittsburgh. What’s the Airbnb regulation climate like currently and outlook for the future?
Please share your personal experiences running Airbnb short term furnished rentals in Pittsburgh. Where are places of high demand and growing demand in Pittsburgh for this?
What risks / pitfalls should a new person to the Pittsburgh market know before jumping in to the Airbnb market here?
Greatly appreciate insights and would welcome getting together on the phone or in person to discuss any of this as well!
Cheers!