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Updated almost 8 years ago,

User Stats

65
Posts
11
Votes
Charlie Gruber
  • Rental Property Investor
  • Golden, Co
11
Votes |
65
Posts

Short term rental in Minneapolis (Linden Hills neighborhood)

Charlie Gruber
  • Rental Property Investor
  • Golden, Co
Posted

Looking to purchase house in Minneapolis (Linden Hills neighborhood) for short term rental(VRBO/AirB&B).  Does anyone have experience with this? Here are a few questions I'm struggling with:

  1. Do I need any type of rental license.From this link it sounds like you should but curious how hard and fast this rule is? https://www.airbnb.com/help/article/948/minneapolis--mn
  2. I've accounted for expenses such as insurance, taxes, Cap Ex, maintenance,utilities, cable, internet, lawn/snow removal, 3% of rent back to AirB&B.Any expense I'm missing?
  3. While running numbers I'm estimating having unit rented on average 15 days per month. Does this sound reasonable?I'm assuming summer months higher traffic than winter.
  4. Any suggestions on handyman or cleaning service?
  5. Any other ideas/suggestions?

Thanks for help all!

-Charlie

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