VRBO/AirBNB in metro area?

[Grant Keaton]

Hello all, 

I'm considering buying some property in the Salt Lake City metro area and renting it at least part time as a VRBO/AirBNB. Salt Lake has some seasonal vacation demand for skiing, Sundance Film Festival, various conferences downtown.

Has anyone had success in holding property for this purpose? Is it generally better/worse than holding it as a straight rental?

Any insight is appreciated!

Grant

[Douglas Larson]

Hi@Grant Keaton

AirBNB and VRBO are still going through some growing pains in the Salt Lake area. It's a lot like the trouble with Uber and there's been some push back from neighborhood groups and cities clamping down. Nightly rentals (anything less that 30 days) requires special transiency licenses and taxes in most areas of the country. Many people rent out rooms, apartments or homes nightly without going through proper channels but I wouldn't do it without having a good plan-B, in case your neighbors are not really cool with it. 

That said, If you have a home with some privacy and off-street parking, I think it could really work. The closer you can get to the ski resorts, the better, or in the heart of downtown.

Have fun!