Is a Rent To Own property worth it?

Question

Latisha Major · Answer

Thanks for that valuable information. That’s very helpful! The goal would be to have it written in the contract that I’m allowed to list the house or unit on Airbnb in a neighborhood that doesn’t have regulations against.

Vee K. · Answer

@Latisha Major, one of the hurdles that you will encounter with this model is that the landlord might not like you running an AirBnB business out of your rental. This is not to say that you cannot do it. It's still a good investment if you can come to some agreements with the landlords.

Good luck!

Vee

Good luck!

Vee

Rob B. · Answer

There’s usually a lot of items to consider when renting via Airbnb. I know at my condo, tenants will be evicted if they try to list their rental unit on Airbnb because the HOA specifically outlaws Airbnb listings. Usually it’s an issue of risk/damage to the property that many landlords or HOA’s are looking to avoid by outlawing Airbnb listings. Many markets are moving towards stricter policies forbidding Airbnbs. There’s countless horror stories about Airbnb guests causing significant property damage to owners’ properties. As some others have noted, I would recommend speaking with your landlord about your plans to list the unit on Airbnb before doing so! But best of luck. It can be super lucrative if done right!

Alex Olson · Answer

@Latisha Major I would recommend AirBnBing your first home, then buy another home using FHA owner occupied financing. This way, you own two homes without going down the rent to own route and having to worry about airbnb while using another property. The other option, which I have done, is to put a lease purchase option on a house. PM me for more details and I can run you through my strategy.

Adam Leitman Bailey · Answer

AirBnB is a very touchy subject right now in a lot of states. Especially NYC, most landlords have written clauses in their leases to prevent AirBnB. You should do some research on the HOA in your area and make sure there are no bylaws against AirBnB. I would also advise that you save up some more money before taking on a rent-own. As with any investment you want to be sure your'e making a wise decision always

Tchaka Owen · Answer

A little clarification needed: you currently own a home and will buy one rent-to-own and house hack it. That being the case, you would Airbnb your current home. So what landlord(s) do you need to clear things with? You're the owner.

Latisha Major · Answer

Thank you Vi!

Is a Rent To Own property worth it?

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