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Hey , don't listen to @Gerald Pitts. It appears to be a joke.
I see zero rentals in Trump Tower on VRBO. It is hard to tell on AirBNB, but the average nightly rate in the area is under $100 a night. The lowest priced condo in Trump Tower is just over $500,000 so I don't see how that would pencil out as profitable. HOA fees alone on that condo are more than my mortgage on our lake house.
Hey @Michael Baum
Thank you for your response! So the reason there aren't any units listed on Airbnb or VRBO is because most of the rentals are being rented out as a part of the hotel rental program. Initially what caught my attention about this place is that units are actually starting at about $120,000, one unit just sold for $150,000. Along with this, these rooms go for $300+ a night. I was able to get ahold of the financials for one particular unit, and even though it was renting out at a high rate, almost all the revenue was being wiped away by HOA and fees.
What I’m curious about is that you are able to not be apart of the hotel rental program and rent out units on your own which will remove a majority of the fees. However, you must keep the rates the same as the hotel…so I have a hard time believing people are going to book a $300+ night listing on airbnb when they could go directly to the hotel website. Would love to hear your thoughts on this. Thanks again!
