Anonymous wrote:OP here. We have an existing AirBNB in Arlington that does quite well, actually (rented 200+ days a year). But I don't really think I can AirBNB this so that's not my main question.

My questions were:
1) Are people renting whole houses in Arlington as AirBNBs just lying about living there half-time or is there something I am missing? I think the answer is they are lying.

2) If we want to do furnished 30+ day rentals any good suggestions for how to find people? I got one suggestion above, thank you. And I've found a few companies that do this but prefer not to have to give them a 25% cut. Would love other suggestions. It's under a mile to the foreign service language institute, so I was thinking that was a good market, but maybe not from what you all are saying.

3) Should I create a different entity or just do it under our names?

4) Any suggestions in general for new landlords, as we've not done this before?

Thanks

So you are lying about living there half the year then too? Why is this so confusing for you?

Anonymous wrote:

Anonymous wrote:If anyone tries to tell you how much they made off airbnb, ask them if the numbers they're telling you were from 2020, 2021, or early 2022. There was an enormous pandemic induced demand that will not be replicated in the coming years.

Airbnb owners are having lots of difficulties right now in most areas. Airbnb might be reporting increased revenues, but that's just because they have more rentals than ever on their site -- on average owners are making less than they were during the pandemic.

Same PP that owns STRs - agreed 100% with you but I've done the math even in a good "market" Arlington would be the least profitable STR market. Unless you do something less traditional like rent out your basement or accessory dwelling.

My STRs are still booked but I picked veru unique properties and yet still had to cut rates and both markets are only around 20% occupancy rate. Which means the average STR needs to make a profit with only 6 nights booked.

OP you can see some of this data on Pricelabs.com and AirDNA

Many of the Air BnBs I see in Arlington are ADs. This is how they get away with "living there" more than half the year .

OP here. We have an existing AirBNB in Arlington that does quite well, actually (rented 200+ days a year). But I don't really think I can AirBNB this so that's not my main question.

My questions were:
1) Are people renting whole houses in Arlington as AirBNBs just lying about living there half-time or is there something I am missing? I think the answer is they are lying.

2) If we want to do furnished 30+ day rentals any good suggestions for how to find people? I got one suggestion above, thank you. And I've found a few companies that do this but prefer not to have to give them a 25% cut. Would love other suggestions. It's under a mile to the foreign service language institute, so I was thinking that was a good market, but maybe not from what you all are saying.

3) Should I create a different entity or just do it under our names?

4) Any suggestions in general for new landlords, as we've not done this before?

Thanks

Anonymous wrote:If anyone tries to tell you how much they made off airbnb, ask them if the numbers they're telling you were from 2020, 2021, or early 2022. There was an enormous pandemic induced demand that will not be replicated in the coming years.

Airbnb owners are having lots of difficulties right now in most areas. Airbnb might be reporting increased revenues, but that's just because they have more rentals than ever on their site -- on average owners are making less than they were during the pandemic.

Same PP that owns STRs - agreed 100% with you but I've done the math even in a good "market" Arlington would be the least profitable STR market. Unless you do something less traditional like rent out your basement or accessory dwelling.

My STRs are still booked but I picked veru unique properties and yet still had to cut rates and both markets are only around 20% occupancy rate. Which means the average STR needs to make a profit with only 6 nights booked.

OP you can see some of this data on Pricelabs.com and AirDNA

If anyone tries to tell you how much they made off airbnb, ask them if the numbers they're telling you were from 2020, 2021, or early 2022. There was an enormous pandemic induced demand that will not be replicated in the coming years.

Airbnb owners are having lots of difficulties right now in most areas. Airbnb might be reporting increased revenues, but that's just because they have more rentals than ever on their site -- on average owners are making less than they were during the pandemic.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. Yes, we know it will lose money for a while. We bought it knowing that.

So you are saying people who AirBNB and don't live there basically are lying? Like I said, we won't do that. I just want to make sure there is not something we are missing that is legal.

Travel nurses are one option, but I think military or state department is a better fit given the location. I am just not sure how to find those people. And, I don't know if we should create an LLC or something or just do it under our names.

I'm a milspouse and in general Arlington isn't for the military community. They are used to large homes and garages. Also my husband's BAH as a Lt Col is $4200 so likely most military want to stay well under what you need to rent it for. Same with state.

Thanks. But are there people on short-term orders who have a higher allowance? The kind of people who want furnished housing, that's what I was thinking of. Agree that we would like to get more than $4200 ideally.

Military can't use AirBNB for travel reimbursement so there is no market for that with them.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. Yes, we know it will lose money for a while. We bought it knowing that.

So you are saying people who AirBNB and don't live there basically are lying? Like I said, we won't do that. I just want to make sure there is not something we are missing that is legal.

Travel nurses are one option, but I think military or state department is a better fit given the location. I am just not sure how to find those people. And, I don't know if we should create an LLC or something or just do it under our names.

I'm a milspouse and in general Arlington isn't for the military community. They are used to large homes and garages. Also my husband's BAH as a Lt Col is $4200 so likely most military want to stay well under what you need to rent it for. Same with state.

Thanks. But are there people on short-term orders who have a higher allowance? The kind of people who want furnished housing, that's what I was thinking of. Agree that we would like to get more than $4200 ideally.

I was going to suggest looking for geo-baching officers (basically military members who travel solo to an assignment leaving their families at the last post), but they wont want to pay that sort of rate.

Check out https://www.militarybyowner.com and see what other people are charging for furnished rentals.

Anonymous wrote:OP here. Yes, we know it will lose money for a while. We bought it knowing that.

So you are saying people who AirBNB and don't live there basically are lying? Like I said, we won't do that. I just want to make sure there is not something we are missing that is legal.

Travel nurses are one option, but I think military or state department is a better fit given the location. I am just not sure how to find those people. And, I don't know if we should create an LLC or something or just do it under our names.

I’m not sure what you’re getting at but unless this property is very close to a metro station, you’re not going to get a lot of Airbnb traffic. Additionally, neighbors are going to get pissed if there’s people coming in and out every week/weekend. It’s way worse than having a renter. And Neighbors will notice! I am in 22207 and our community is always taking a walk, out with kids, etc. so there’s no way it could get past us if there was in and out every week with randoms.

Anonymous wrote:

Anonymous wrote:OP here. Yes, we know it will lose money for a while. We bought it knowing that.

So you are saying people who AirBNB and don't live there basically are lying? Like I said, we won't do that. I just want to make sure there is not something we are missing that is legal.

Travel nurses are one option, but I think military or state department is a better fit given the location. I am just not sure how to find those people. And, I don't know if we should create an LLC or something or just do it under our names.

I'm a milspouse and in general Arlington isn't for the military community. They are used to large homes and garages. Also my husband's BAH as a Lt Col is $4200 so likely most military want to stay well under what you need to rent it for. Same with state.

Thanks. But are there people on short-term orders who have a higher allowance? The kind of people who want furnished housing, that's what I was thinking of. Agree that we would like to get more than $4200 ideally.

Anonymous wrote:OP here. Yes, we know it will lose money for a while. We bought it knowing that.

So you are saying people who AirBNB and don't live there basically are lying? Like I said, we won't do that. I just want to make sure there is not something we are missing that is legal.

Travel nurses are one option, but I think military or state department is a better fit given the location. I am just not sure how to find those people. And, I don't know if we should create an LLC or something or just do it under our names.

I'm a milspouse and in general Arlington isn't for the military community. They are used to large homes and garages. Also my husband's BAH as a Lt Col is $4200 so likely most military want to stay well under what you need to rent it for. Same with state.

OP here. Yes, we know it will lose money for a while. We bought it knowing that.

So you are saying people who AirBNB and don't live there basically are lying? Like I said, we won't do that. I just want to make sure there is not something we are missing that is legal.

Travel nurses are one option, but I think military or state department is a better fit given the location. I am just not sure how to find those people. And, I don't know if we should create an LLC or something or just do it under our names.

Anonymous wrote:

Anonymous wrote:Arlington is an impossible market to turn a profit. I own multiple short and long term rentals and would never invest in that area.

That said obviously that advice can't help you now. If you want to try furnished rentals you can try furnishedfinders.com for travel nurses. But, again, I don't see how you'd break even in any scenario.

I’m not sure what you’re talking about, as someone who’s lived in Arlington for 20+ years you can make an unbelievable amount of money on rentals as there are very few especially in the nicer neighborhoods.

OP, if you have an Airbnb in a neighborhood …neighbors are going to be monitoring and reporting to the county.

If you bought today and not 20 years ago? Hello. At least 5 to 10 years to break even. At least.

Anonymous wrote:Arlington is an impossible market to turn a profit. I own multiple short and long term rentals and would never invest in that area.

That said obviously that advice can't help you now. If you want to try furnished rentals you can try furnishedfinders.com for travel nurses. But, again, I don't see how you'd break even in any scenario.

I’m not sure what you’re talking about, as someone who’s lived in Arlington for 20+ years you can make an unbelievable amount of money on rentals as there are very few especially in the nicer neighborhoods.

OP, if you have an Airbnb in a neighborhood …neighbors are going to be monitoring and reporting to the county.

Arlington is an impossible market to turn a profit. I own multiple short and long term rentals and would never invest in that area.

That said obviously that advice can't help you now. If you want to try furnished rentals you can try furnishedfinders.com for travel nurses. But, again, I don't see how you'd break even in any scenario.

We bought an older house in Arlington and intend to fix it up as a rental. We are considering all options -- full-time renter, 30+ day furnished rental, short-term rental. To AirBNB in Arlington the rules say you have to live there half time. Do people ignore that rule? Looking at the number of listings here, I can't believe that's actually the case. Is there a loophole to this I am missing? We won't lie, so if we can't do it, we won't, but I feel like I might be missing something because I feel certain a lot of AirBNBs around here no one lives in half-time.

If we do a 30+ day furnished rental, what is the best way to find renters? I've seen a few companies that do this, but the percentage cut they take is pretty substantial. It's in a good location, so I think there would be demand for it.

It's an older house and will be a little challenging to furnish because some of the corners are tight, also not a ton of closet space, which is why we think it might make the most sense to rent it furnished. Anyhow, we are new at this, so advice appreciated.

Also looking for advice on anything else for a new investor, should we do it ourselves or create an LLC, etc. Should I talk to lawyer?

Thanks