AirBnb Short Term Rentals

[Eldin Kalic]

I've been research and strongly considering investing in a STR in a major market with significant tourist attraction like Miami/South Beach. I've gone through the data on AirDNA, MashVisor, etc. and the data points to the less common markets such as Nashville, UpState New York instead of major markets like South Beach.

I'm looking for insight from all current BP STR investors that are managing these rentals in the major markets. What is your occupancy rate? Do you find your market to be over-saturated with AirBnB rentals? Any and all advice or experiences is welcome!

[Andrew Jacoby]

Hey Eldin,

I own a licensed STR management company here in Nashville. We currently manage 30 properties and keep growing despite Covid.

Id be happy to provide some insight on the occupancy rates in our market.  We have actually been able to keep our occupancy rates fairly normal throughout this Covid 19 experience with the few exceptions back in late march when things first shut down.  Depending on the size(# beds) of the property you should experience anywhere from 40% to 80% occupancy even during Covid 19.

We also saw some market correction where Nashville did have some of the supply transition to more traditional leasing models or sell there STRs for personal financial reasons.  I have a lot of investors buying properties this winter in anticipation of a boom come summer.

Anyways, if you want to talk more detailed numbers, figures, strategy please feel free to reach out.  I'm always happy to share what information and I have.