Hi there. I own a 4-plex and have 4 Airbnbs only in it. I am looking to rent a place and tell the landlord what I will be doing. How do you analyze a new market or city to know whether you can make it work? Do you use Airdna? Does anybody have a spreadsheet out there that they use?
I love the idea of not owning the place but doing Airbnb and making the difference.
Would love to hear any and all experiences about doing market research and subleasing.
thanks for your help!
I am sure you know your biggest barrier will be the vast majority of landlords won’t allow you to do STRs or indeed any sub letting.
You will also know as an experienced Airbnb business, that even if you identify what you think of as a hotspot local government can introduce legislation to restrict STRs.
Anyway you can use AirDNA if they cover your areas of interest. Research local legislation. HOA’s. if you live in the US. Speak to local estate agents.
Research what type of people visit an area through your local/regional tourism people to see if the property you are considering will be of interest to the visitor market and what the visitor accommodation market is like.
Even if you find what you feel is a promising location not restricted by government, you will then need to find a landlord to play ball.
Thanks for input, this is my first comment just testing it out
Your ability to sublease and do Airbnb will vary greatly depending on local laws, the willingness of a landlord to let you do STR and, very importantly, insurance considerations. Your landlord could be totally open to you renting your space out but his/her insurance company may not be so happy. Research these things thoroughly in addition to your market. Unless your area is flooded with AIrbnbs and cheap hotels there is almost always a market for the right audience at the right price point.