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Updated about 1 year ago, 10/31/2023
Short Term Artibrage on New Construction Triplex
I just finished a new build. Its a Triplex consisting of (3) 2 bed 2 bath identical units, with an attached 2 car garage I plan to keep for personal use. We just put the 3 units up for rent and I have been approached by a couple of different people looking to sign a lease with me , and then rent the units out through a 3rd party management company doing short term rentals. I understand the insurance requirements needed by both the lessee, and the 3rd party management company. I am not opposed to the idea, but just wondering what else I should consider before I make a decision about this type of arrangement. Any tips, suggestions, concerns or any other advice would be appreciated. The building is in Lantana, Palm Beach County. Market rents are about $2800-$3000 per unit/month. What do you think would be a fair price to lease all 3 units to one person for an arbitrage scenario?
Thanks