All Forum Posts by: Ali Barcin

Yes they definitely help in this business. Always better to have one guest for 30+ days than having 10 different people in 30 days.

Originally posted by @Barry Sanders:

welcome to bp, the furnished apartment space is great especially if you can get contracts with medical institutions or companies that  relocate their employees.  Good luck

Originally posted by @Katie Stewart:

@Ali Barcin Welcome to BP! This is a great resource for REI knowledge and networking. I look forward to reading your future posts.

Congratulations for your new investment!
As being in an urban area (Jersey City) I don't think I am experienced enough to determine the answer of your question. Each city has its own attractions and own dynamics. For me, transit is vital because more than 90% of my guests stay in my apartments because of the easy transportation to Manhattan. They pay the same amount they would have paid for a small hotel room in Manhattan but they get a larger apartment with 2-3 bedrooms and 2-3 bathrooms and they are only 10 minutes away from Manhattan jungle.
I don't know where your property is but I can recommend you to research about your area on airdna.com to see the seasonality and average rates for the comparable properties like yours. I always use this tool and can say that it's pretty solid and consistent. Let me know if you need any help if you decide to get into this deeper! :)

Originally posted by @Shawn Mcenteer:

@Ali Barcin welcome to Bigger Pockets. I recently closed on a property that has a unique 3rd level potentially good for Airbnb or short term lease. What makes for a good short term rental in your opinion?

Originally posted by @George Blower:

@Ali Barcin

Welcome to Bigger Pockets. This is great place to connect with others.

Originally posted by @Odie Ayaga:

Welcome to BP @Ali Barcin! Interesting real estate background with the short term rentals in NJ!

I totally agree with you about the various regulations in various cities and how it may be challenging to invest into a property with this given uncertainity. That's why I do this in Jersey City at this point. However I'm willing to expand my portfolio in cities with less regulations like Philadelphia etc.
I do not own my property yet and I'm managing it for landlords and/or investors. I pay a fixed rent for each unit wheter I can make a profit or not for a given month. This way the landlord knows his income and gets his peace of mind. Yes, there are many short term rentals in Jersey City and most of them are big nationwide companies.
Which cities do you operate your short term rentals? Are you happy with this business? Which platforms do you use in order to advertise your properties? Let me know if you need any help with anything!


Originally posted by @John Errico:

Hi @Ali Barcin welcome! I (and I think a lot of investors in the area) have experimented with Airbnb and similar strategies on properties. I think, at least in my experience, the regulatory environment for Airbnb/Airbnb-like renting is all over the map in New Jersey, ranging from acceptance (like in Jersey City, Newark), to banning (like in neighboring Union City), to neither banning nor permitting it (much of the rest of NJ). There's definitely some hesitation for landlords, in my experience, to operate in a (large scale) manner that might hypothetically be impermissible... and even to buy properties assuming they will be great short/shorter term rentals, but might, ultimately, not make sense as a long-term rental (and then have the regulatory environment change making their property way over-valued). I currently operate a number of short-term/medium-term rentals throughout the northern New Jersey area, primarily my own properties, and, to a lesser extent, for others, and also a bunch of long-term/traditional buy-and-hold type rentals.

Do you manage these properties for landlords/investors, or do you own any properties directly? What arrangement do you have with these owners (like, do you charge a traditional management fee/% of gross rent?). I know Jersey City is quite openly permissive about Airbnb, but I'm not so familiar with short-term management companies per se. Are there many?