medium term (30+ days) condo airbnb- current state of play?

Question

Hi Denver (metro area) folks!

My friend (who lives in the area now) and I are considering buying a very basic, 1 or 2br1bath condo that we hope to maximize rental income through 30+  days medium-term rentals- since I lived there and even my last visit earlier this year, I actually didn't realize how stringent the str regulations had become, and I still don't know how small-time landlords actually deal with the laws now. At some point it would be cool to find an off-market property and do a more serious project, but for now we thought we'd keep it simple (this is also a great tax deductible excuse to visit :) Any thoughts on the strategy and current state of regulation around Denver/lakewood/Aurora/Centennial? I know know this may be a great question for @James Carlson ...thanks so much!

Ari Bildner · Answer

@Matt M. for sure, thanks for your thoughts. It seems all the condos I've looked into provide $200-$300 of cashflow before any maintenance issues (which I'm not totally sure about for condos) for a yearly rental situation. But I'd want to maximize revenue of course, and with all the STR regulations now, it seems a 30+ day medium-term rental could be the way to go perhaps? Just curious.

Matt M. · Answer

James will chime in, and he's the man to talk to. I'd only offer that it would be unwise to purchase something based on STR numbers. I'd see if it makes sense as a long term place and consider STR the icing.