Exploring Airbnb Opportunities: Furnishing and Managing a New Property in Akron, OH

[Rereloluwa Fatunmbi]

I am in the process of closing on a 3-bedroom, 2-bathroom, 1600 sq ft single-family home in Akron (zip code 44305). My plan is to furnish it and list it on Airbnb for short-term or medium-term rentals (STR/MTR). The property is conveniently located 1.6 miles from the University of Akron and 2.2 miles from the Children's Hospital. I have allocated a budget of over $5,000 for furnishing the house, and my monthly payments (PITI) amount to $790.

Given that I reside in Austin, TX, I am a bit worried about managing remotely. However, I am familiar with managing short-term rentals, as I currently operate two in Texas (one of which is 3 hours away from my home- so I manage that remotely). Additionally, I already have a long-term rental property in Akron, situated 2 miles from this new acquisition which I also self manage. However, I would like to inquire about local regulations I should be aware of in Akron. Moreover, I am curious if the market for short-term rentals in the area is already saturated. Any insights, ideas, or suggestions would be immensely appreciated.