Learn About Short-Term Rentals
Thinking about investing in STR Real Estate? We at AirDeed have you covered. While it used to be a small niche investment, has now become a competitive industry that will only continue to grow over the next decade. Airbnb, VRBO, Vacasa are a few of the bigger names in the industry that created a marketplace for short-term rentals to be booked by guests. These have started to overtake hotels as the preferred lodging option for tourists, business travel, and month-long stays.
While even just a few years ago, starting an Airbnb business was essentially a license to print money; this has changed immensely with the increase in competition and the increase in real estate prices. While bland STR properties were once commonplace, over the next 5-10 years owning a generic Airbnb will result in a negative investment.
Below are the necessary actions to take to make sure you are prepared for owning profitable STR real estate.
- Identifying your objectives
- Do You Need A Realtor?
- Research Local Laws and Sentiment
- New or Existing STR Property?
- Understand the Capital Cost
- Get the Data
- Run the Numbers
- Time to Buy
- Get a Mentor