All Forum Posts by: Chi Sonubi

@Chi Sonubi if the property is in an HOA community read the bylaws and covenants diligently. The last thing you want is to close on the property and come to find out that HOA only allows a minimum of a 6-month lease. Which county are you purchasing in?

Here are a few things to add to your due diligence checklist:

1) Home inspection, just like on any other property you buy

2) Additional inspections depending on age of property (like scoping the sewer lines, for example)

3) Study STR regulations in your city to ensure this property is permitted for this use

4) Interview 2-3 STR property managers to understand your income potential on this home

5) Study competitor properties on Airbnb and look for what they are charging per night, how they are finished, how they are furnished, etc

6) Consider your backup plans in the event your city starts cracking down on STRs and impacts the sustainability of this business for you