Airbnb as Part of Your Real Estate Investment Plan
Have you been thinking about purchasing properties and leasing them out using Airbnb? There are a few things you might want to consider before you make this a long range goal.
There are several states where they are trying to legislate Airbnb and regulate it.
Some jurisdictions have regulations as to how many unrelated parties can live in a household.
If the owner is not a resident of the property any short term guests may be required to pay hotel taxes and the owner will be required to submit those to the state. This can also be governed by the length of the guest's stay.
Some neighborhoods, Home Owner Associations, Condo Associations flat out have ruled that Airbnb type guests are not allowed in their buildings or neighborhoods.
If you live in the property, like I do, and your guests are respectful of the rules of the neighborhood - like parking, loud music, profane language etc and you abide by the residency laws of the county/jurisdiction you live in they may not be able to regulate your business. This isn't part of my business plan, what I like is that Airbnb verifies my long term guests and collects the money and passes it on to me like a management company would so the quality of the guest is a little higher than if I used Craigslist or something similar.
These are just a few examples and I encourage you to do your homework and research very well the laws of your area before you think Airbnb is a great way to make money for your long term investing goals.
If you are thinking of buying or selling an home in Maryland give us a call at 410-292-0100 or start your search here and we'll talk about the market conditions and what your home could possibly be worth in today's market place if you are thinking of selling. If you are considering buying a home, there is no better time than now to buy. The tax savings and wealth building alone is worth the plunge into todays market. Remax New Beginnings and I are connected with some of the brightest and best real estate agents in the world and can assist with your move here in Maryland or anywhere in the United States or abroad. Ask me how.
June Piper-Brandon ~ Associate Broker ~ CDPE, CIAS, ePro, MRP
The Traczyk Team
Remax New Beginnings