STR in Hunter or Windham, NY

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STR in Hunter or Windham, NY

Sanderson Mittnacht
Investor · Chatham, NJ · Member since 2021 · 36 posts · 21 votes

I'm looking to connect with any investors who own a STR in the Hunter/Jewett/Windham area who would be open to a conversation about the Airdna numbers in the area and building a team (contractors/cleaners/pm).

If anyone has experience up there,  please let me know.

Also very open to any partnerships if that’s of interest as well!

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Sean Bramble
Investor · United States · Member since 2020 · 202 posts · 284 votes
4y

There are a few other forum posts on this topic you should search. I was looking in these areas over the last few months and can confirm that they are very STR friendly and locals in the markets expect them to remain so (lots of second home owners renting their places when they're not around … there have been a few city council meetings where STR owners took a stand to ensure it would remain legal). Hunter, Windham, Jewett are safe, Lexington has some limitations that may or may not be flexible (capped currently, but there is word they will increase the # of allowable permits soon), and Prattsville hasn't weighed in yet. But Hunter, Windham, Jewett are the sweet spots for demand anyway.

That said, revenues seem to be declining since the highs of the pandemic, so be sure to consider that in your underwriting. Specifically, shoulder season this year (Mar-May) seems be lower than 2021 … so it will be interesting to see how summer performs vs the pandemic years. For now, I would recommend being very conservative in your underwriting - assume 2019 was a “normal” year, and keep an eye on this summer to see if you can adjust expectations upward. Airdna shows historical going back multiple years, but Pricelabs has better granularity for looking at the market today (and is cheap as hell - just draw your own radius and pay $10-20 p/month).

Beyond that, property taxes are generally high in NYS vs other states. This really infcreases your PITI and decreases cashflow, but as they say - if a deal works it works regardless of any one variable

PS- there is a forum called “Short Term Rentals” on BP - if you post on there you will probably get a lot more responses than this one

feel free to reach out to me directly if you have any other questions - happy to help! There are a few agents I can recommend, but beyond that this is the info I have. Good luck! 

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  • Sean Bramble
    Investor · United States · Member since 2020 · 202 posts · 284 votes
    4y

    There are a few other forum posts on this topic you should search. I was looking in these areas over the last few months and can confirm that they are very STR friendly and locals in the markets expect them to remain so (lots of second home owners renting their places when they're not around … there have been a few city council meetings where STR owners took a stand to ensure it would remain legal). Hunter, Windham, Jewett are safe, Lexington has some limitations that may or may not be flexible (capped currently, but there is word they will increase the # of allowable permits soon), and Prattsville hasn't weighed in yet. But Hunter, Windham, Jewett are the sweet spots for demand anyway.

    That said, revenues seem to be declining since the highs of the pandemic, so be sure to consider that in your underwriting. Specifically, shoulder season this year (Mar-May) seems be lower than 2021 … so it will be interesting to see how summer performs vs the pandemic years. For now, I would recommend being very conservative in your underwriting - assume 2019 was a “normal” year, and keep an eye on this summer to see if you can adjust expectations upward. Airdna shows historical going back multiple years, but Pricelabs has better granularity for looking at the market today (and is cheap as hell - just draw your own radius and pay $10-20 p/month).

    Beyond that, property taxes are generally high in NYS vs other states. This really infcreases your PITI and decreases cashflow, but as they say - if a deal works it works regardless of any one variable

    PS- there is a forum called “Short Term Rentals” on BP - if you post on there you will probably get a lot more responses than this one

    feel free to reach out to me directly if you have any other questions - happy to help! There are a few agents I can recommend, but beyond that this is the info I have. Good luck! 

    4Reply
  • Jean Pierre Beltran
    Rental Property Investor · New York, NY · Member since 2022 · 12 posts · 3 votes
    3y

    @Sanderson Mittnacht did you end up acquiring an STR in the Windham area? I'm looking to acquire in a nearby town and would love to connect with hosts to knowledge share

    1Reply
  • Sanderson Mittnacht
    OP
    Investor · Chatham, NJ · Member since 2021 · 36 posts · 21 votes
    3y
    Quote from @Jean Pierre Beltran:

    @Sanderson Mittnacht did you end up acquiring an STR in the Windham area? I'm looking to acquire in a nearby town and would love to connect with hosts to knowledge share


     I did. Happy to connect. Shoot me a dm and we can schedule some time.

    0Reply
  • Sanderson Mittnacht
    OP
    Investor · Chatham, NJ · Member since 2021 · 36 posts · 21 votes
    3y
    Quote from @Sean Bramble:

    There are a few other forum posts on this topic you should search. I was looking in these areas over the last few months and can confirm that they are very STR friendly and locals in the markets expect them to remain so (lots of second home owners renting their places when they're not around … there have been a few city council meetings where STR owners took a stand to ensure it would remain legal). Hunter, Windham, Jewett are safe, Lexington has some limitations that may or may not be flexible (capped currently, but there is word they will increase the # of allowable permits soon), and Prattsville hasn't weighed in yet. But Hunter, Windham, Jewett are the sweet spots for demand anyway.

    That said, revenues seem to be declining since the highs of the pandemic, so be sure to consider that in your underwriting. Specifically, shoulder season this year (Mar-May) seems be lower than 2021 … so it will be interesting to see how summer performs vs the pandemic years. For now, I would recommend being very conservative in your underwriting - assume 2019 was a “normal” year, and keep an eye on this summer to see if you can adjust expectations upward. Airdna shows historical going back multiple years, but Pricelabs has better granularity for looking at the market today (and is cheap as hell - just draw your own radius and pay $10-20 p/month).

    Beyond that, property taxes are generally high in NYS vs other states. This really infcreases your PITI and decreases cashflow, but as they say - if a deal works it works regardless of any one variable

    PS- there is a forum called “Short Term Rentals” on BP - if you post on there you will probably get a lot more responses than this one

    feel free to reach out to me directly if you have any other questions - happy to help! There are a few agents I can recommend, but beyond that this is the info I have. Good luck! 


     I'd love to see some data on this year's rental in that market if you have it. My experience, March was dead with zero rentals but I'm quite filled all of April & May. Not sure if the weather/bad snow season this year impacted rentals or not but that was my experience.

    0Reply
  • Marc Bacayon
    Member since 2023 · 1 post · 0 votes
    3y

    Hi Sanderson. I am looking into purchasing a home in the Windham area and started searching for STR information. Was it difficult to obtain an STR permit? Is there still a limit of # of STR permits issued?

    0Reply
  • Sanjay Aiyar
    Member since 2019 · 22 posts · 2 votes
    2y

    Hi guys, came across Windham. I see in the 2020 regulations they capped STR permits to 150. Any info if this was lifted or are folks just operating/hoping the cap hasn't been hit when they buy? Thanks.

    0Reply
  • Sanderson Mittnacht
    OP
    Investor · Chatham, NJ · Member since 2021 · 36 posts · 21 votes
    2y

    @Marc Bacayon I ended up purchasing in Jewett so I'm not sure about the Windham area.

    @Sanjay Aiyar I do know Windham mountain put some regulations on their ski passes this year with 2-day minimum lift tickets and are looking to make the mountain super exclusive with a $200k membership https://www.nytimes.com/2023/12/17/nyregion/windham-mountain... I would assume the township would follow with tightening up regulations on STRs. Both Windham and Hunter are quickly becoming 'VC-backed' establishments so I'd be on the lookout for changes in the near future if they haven't happened already.

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