All Forum Posts by: James Clifford

To add a little to @Bill Brandt, The city of Las Vegas has regulations in place for Airbnb and they are designed to pretty much eliminate commercial operation of STRs. This is the City of Las Vegas which does not include the majority of the Strip.

For unincorporated Clark County, where most of the action and high earning Airbnb's are, Airbnb's are strictly illegal and transient occupancy has been outlawed in residential zones since the 90's. Check out this link for more info: http://www.clarkcountynv.gov/administrative-servic...

Enforcement of these ordinances is spotty from what I have heard and seen. As with most STR's it is usually the nosey neighbor or poor management that leads to the city getting involved. You could likely operate a unit for some time under the radar but there is always the risk of fines and losing your investment.

Hi Jim, the landlords are out there and I would suggest focusing on buildings that are newly built or rehabbed and are in the very early stages of pre-leasing. It is usually best to stay away from big developments that have large property management companies attached, they are almost always a "no" but will give you the runaround for a week or so while they ask their manager. Your direction ongoing for multiple properties is great, this will keep doors open with the smaller, motivated landlords. Best of luck

I would love to hear if someone has more insight on the valuation after the construction of Modular. From what I have researched, and from what the Modular architects/manufacturers/contractors have told me, there is no difference in valuation if it is permitted and receives its CO as a permanent structure. 

@Austin Sheppard @Charlie MacPherson is right, there are new regulations in Boston on the horizon and Airbnb and the City are at odds with one another. In my opinion, Boston is a high-risk market right now for Airbnb/STR due to these looming regulations.

Aside from that, Boston is a great market for STR's and has some of the highest occupancy rates and revenue of any market in the USA. I have run commercial Airbnb's in several US cities for the past 3 years, I'd love to get coffee with you but I am in SoCal. Send me a message if you'd like to talk further. I am more than happy to share my knowledge and learn from you as well. 

Sounds like the property is in a great location and has the unique look to do well with Short-Term guests. I understand the frustration of not being able to pull the trigger! Hopefully the first rental property will be a home run

Hey @Account Closed , STR is short for Short Term Rental. This is the term for a rental property that is being leased out by the day or week rather than a traditional long-term lease. With the explosion of Airbnb over the past few years, STR is becoming more popular for buy/hold investors as a way to generate revenue. Hope this sheds some light on it!

@Will G. thanks for your reply. I have specific knowledge on modular in east Texas, and in that market, your vertical construction costs per sq ft can be about the same as site-built depending on FF&E. 

Since a building built modularly has the same permitting process and certificate of occupancy requirements as a site built project I do not imagine the appraisal value will be different. Modular has struggled to get away from the "manufactured home" label here in the USA but the industry is producing a product that is comparable or better in quality than site-built. If you would like to discuss further I am more than happy to share my knowledge with you. thanks again

Hi Everyone,

I am new to BP and excited to make some connections. I recently formed my own company to assist commercial Short Term Rental (Airbnb) operators find more units and scale. I have personally negotiated and signed leases for 50+ STR units in the last 3 years and I hope to share this experience with interested parties.

In addition to STR, I also have a passion for modular and prefab construction, which I believe is the future of RE development. I have around 10 years experience in construction and property management and recently consulted on a site-build project that I redirected to modular!

I look forward to meeting people and connecting, thanks! 

Hey JP,

Looks like you have a lot of great feedback already so I just want to add my 2 cents: 

Scottsdale is a great a market but the Data shows that it is very seasonal. Keep this in mind if you are getting ready to purchase a property since it will have a heavy impact on the revenue the property generates. 

Ideally, the property would go "live" sometime in December/January so it could gain some reviews and traction heading into peak season in March. Launching after this time may have you struggling to meet your debt requirements while the summer heat is on.

Hi Alessandro,

In Los Angeles, Airbnb automatically collects the Transient Occupancy tax and remits it to the correct authorities for you. Airbnb made this deal with the City a few years ago.

Los Angeles is still struggling to get a handle on Airbnb and as you probably know there has been an ordinance in the works at City Hall for over 2 years. At best I would describe doing Airbnb in Los Angeles as a "Gray Area" since transient occupancy may be non-permitted for the zone you live in, but there is practically no enforcement of this code so there is little to fear if you keep your Airbnb activity under control.