Has anyone had success selling a functioning AirBnB?

[Aspen Lenzen]

Hi! Last year, my husband and I purchased an investment property in Salt Lake City that we turned into a short-term rental. Unfortunately, life took us away from SLC, and we're now living on the East Coast. We gave it some time running it from across the country, but are realizing that we'd rather not try to operate it from across the country. I was wondering if anyone had had any success selling a still operating STR and if so if they had any tips.

[Shawn McCormick]

@Aspen Lenzen

I live in Orlando, the 'capital' for STR's. I have helped dozens of people buy and sell functioning homes. I market them as basically a 'turn key small business'. In my market, that is a desirable attribute to have it already up and running. If it is performing well, the buyer pays fair market value for the home and enjoys the benefit of some future income with rentals you already have booked.

Although your reviews won't convey, the buyer can have some peace of mind that with future revenue that the first couple of months mortgage are covered while they make adjustments, build up some reviews and work out any nuances they need to. If you have a website, Instagram or other social page for the house, having those convey as well are always welcome.

Our market is heavily driven by STR near the theme parks, so not sure how the SLC market works, but to me, having it still operating is a must. Side note, The calendar can get tricky to work out inspections, appraisers and closing dates as the home may have guests. Your agents will have to work closely with you to make sure no guests are interupted but the buyer has access to the home and you close on a date with no guests that day and the following few days while they go in and take inventory, set up utilities etc.

Hope this helps, best of luck!