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Updated 11 months ago, 02/21/2024

User Stats

17
Posts
4
Votes
Ravi Ramu
  • Investor
  • New Jersey
4
Votes |
17
Posts

Locust Lake Village, Pocono Lake - Newbie Needs Short-Term Rental Advice!

Ravi Ramu
  • Investor
  • New Jersey
Posted

Hi everyone! 

I'm about to buy a 3-bedroom, 2-bathroom in Locust Lake Village for short-term rentals (Airbnb). While I have experience with long-term rentals, this is my first time into STR!

I'm using the "second home" strategy, My lender approved, but... they want me to stick to 14-day rule of personal use. 

I'm seeking advice from seasoned short-term rental pros, especially those familiar with Locust Lake Village.

Here are my burning questions:

  1. Property Management: I'm considering Evolve (10% fee) to help me out as a newbie. Are there better options, or should I self-manage despite the learning curve?  I know self-managing can save money, but I'm willing to consider the trade-off for peace of mind (especially at first)
  2. STR Permit Worries: My property is in Tobyhanna Township, where whispers of an STR permit freeze loom. The township meeting is on February 20th. Should I be concerned? How's the long-term/mid-term rental market in the area if STRs get restricted?
  3. Hot Tub Dreams: The place is move-in ready, but I'm thinking a hot tub could be a major selling point. Any recommendations for reliable general contractors in the area?

Any insights, tips, or cautionary tales would be greatly appreciated! Feel free to share your own experiences with short-term rentals in Locust Lake Village. 

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