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Updated almost 6 years ago,
AIR BNB in apartment building
HI All,
we purchased a distressed 11 unit apartment building in a small rural, college town in western PA in July. The place was just short of gutted. we have 5 units up and running with 3 rented long term, and 3. more that should be up and running in the next month. the apartments are all 1/1 with small galley kitchens. we are trying to decide if we should try a short term rental with one or more of the apartments until we get more tenants. we figure we don't have much to lose. They are small enough, the street up costs for furniture, tv, etc should be less than 5k. we are already paying for the utilities. this would be our first trial of a short term rental. I have a cleaning crew in place for turnovers and a trusted handy man. I should mention we are about an hour away from the property.
I have been researching the short term rental strategy for some time and plan to try and get a few in the downtown Pittsburgh area at some point, but I thought this may be a good introduction.
advice/suggestions?
thanks