AirBnB in Washington DC greater area (Virginia)

[Vladimir Khorikov]

I'm thinking about buying a 1 or 2 bedroom condo in Alexandria, VA (Landmark, Shirlington, etc). Does anyone have experience with renting such units in these areas on AirBnB? It's not DC per se, but close and I assume they could still be attractive for tourists.

What are the typical vacancy rates? Does it make much difference comparing to long term, traditional leases? Do numbers make sense at all?

I know it's quite a bit of work (not a passive investment). But I figured I could still make it work - my wife doesn't have a day job so she could potentially manage such a property.

Thank you!

[Chris Mylan]

@Vladimir Khorikov

From my experience in owning/operating a few AirBnBs in DC, I would recommend buying/renting a row house or English basement close to the metro for a higher chance of success. Logistically and, as others have noted, legally a condo is difficult to have continued profit as a short term rental.

In my opinion, there are many houses where renting out/living in one unit and using AirBNB in the other (kind of like a built in duplex!) will let you hit the correct numbers to have a nice cash flowing property. As with anything else, there's nuances and ways to increase your chances of success. But, I think this strategy can yield great returns if done right.  

Feel free to PM me if you would like to discuss further.