AirBnB Arbitrage Cleveland

[David Sladewski]

I am planning to start a rental arbitrage business in Cleveland Ohio and my biggest concern is where to find enough short term renters if Airbnb and Vrbo don't provide me enough people in order to be profitable.  I have a rental I have been analyzing near The Flats and Play House Square on Euclid Ave. My costs are the rent for $840 and the Utility bill for about $200 a month plus the initial upfront costs. I would charge $100 a day on Airbnb. My biggest worry is that I wont get enough clients especially starting this on the slow season. If anyone has advice to mitigate this risk and any other advice to give to someone just started out that would be very helpful.

[Andrew Weiner]

Make sure to check the lease that you are allowed to do it. I have heard stories that people have taken the lease and financial obligation only to find out that the building won't allow it and have to eat the cost of the lease/lease break fee. One suggestion is to start at a super low intro price to get some quick bookings and make sure to get some great reviews, with STR's the reviews are make it or break it.