Realtor Needed in DC Area

7 Replies

Hello,

I am interested in purchasing or renting a 1 bedroom 1 bath in he DC area for an airbnb investment. If there are any realtors with experience with this and would like to work with me please reach out. Thank you.

-Mike

Nearly all condos in the DC metro area have restrictions on Air BnB/short term rentals.

Russel,

Thanks. So how are so many people making money if what you're saying is true?

-Mike

Michael,

Russell is correct....as usual. An extremely high percentage of Condo Associations require at least 6 month leases and most of the nicer ones are at a 12 month minimum (all 3 I have reviewed for clients this month mandated 12 month minimum leases). There are still a lot of units with these restrictions on Air BnB because people are either unaware of those restrictions, are just ignoring them, or happen to be in an unrestricted COA. Additionally, there is an Air BnB bill being gererated by DC that is currently being debated (articles link below) that could further regulate the business in D.C. I honestly do not know much about the D.C.  Air BnB scene as I help with long term rentals, but I would be happy to learn more about it with you if you want to reach out.

https://www.google.com/amp/s/www.washingtonpost.com/amphtml/news/where-we-live/wp/2017/09/18/money-and-liability-are-among-issues-driving-the-d-c-airbnb-bill/

Russel and Aaron. Thank you very much for pointing this out. I did some additional reading and you are both on point. Much appreciated.

Originally posted by @Michael R. :

Russel,

Thanks. So how are so many people making money if what you're saying is true?

-Mike

 Ive actually sold 4 condos in the last 2 years from owners who were doing air bnb, who got hige fines from their condo assosciation because of it. Id say each had about $5k in fines when we sold.

@Michael R.  A Rowhome or small multi-family would work, but the investment would be considerably larger.

Originally posted by @Dan Bernstein :

@Michael R. A Rowhome or small multi-family would work, but the investment would be considerably larger.

 Hi Dan. The main appeal of AirBnB to me is the lower cost to invest vs buying a property.

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