Running numbers on monthly Airbnb rentals

[Trever C Trader]

Hello,

When trying to run the numbers on deals, I am constantly (educated) guessing on the expected income and demand/occupancy from Airbnb 30+ day stays...

There are many sites (airdna, etc) and resources for analysis of STR but I am trying to focus on MTR and am curious what others are doing to analyze MTR - especially monthly demand/occupancy.

The reason why this question is important, in case anyone is doing neither and are wondering, a lot of markets (like Denver) do not allow Short Term Rentals of properties (with a few exceptions); the only alternative in this case is renting your property for 30+ days at a time. 

Additionally, does anyone have recommendations for analyzing income from furnished (vs unfurnished) traditional rentals?

Thank you!

-trever

[Ben Einspahr]

Hi @Trever C Trader, Those are all great questions! Are you looking to operate a STR (<30days) while living in the property as a primary residence or as an investment property? If this is a primary residence, there are no restrictions to minimum day stays. For Denver, only recommendation I would give is make sure you get a STR license. They are super easy to get. Link can be found here. Yes, believe it our not, there are people checking Airbnb to make sure listings <30 days in Denver have STR license posted on their listing page.

If this will strictly be an investment property, I would look in the Arvada/Wheat Ridge Area. Their STR laws for investment properties are much more favorable than Denver. If you are looking for a lower price point than Arvada, Wheat Ridge, and Denver, check out Aurora! Friends of mine are killing it with their house hacks next to Anschutz Medical Campus.

So, to answer your question, yes, there is definitely a demand for MTR's in Denver Metro Area. My wife and I use platforms such as FurnishedFinder and Kopa to market to Traveling Nurses and young professionals. They make top notch tenants! I have also noticed an increase in demand for 30+ rentals through Airbnb with everyone now having the ability to work remotely.

Hope this helps head you in the right direction!