5 ms·

Why not just comply with the laws? I have a friend who did this, but in tourist-y cities this was turning into situations where a person would rent out 10 apart

Why not just comply with the laws? I have a friend who did this, but in tourist-y cities this was turning into situations where a person would rent out 10 apartments at $2k/mo and rent them on at $300 a night. A great business, but if you live in a block with constant travellers then I guess it can get super annoying fast.

pavel_lishin 8y ago
Also pretty annoying when you can't find a place to rent, because the apartments start getting taken over by "enterpreneurs" such as your friend.
- tunap 8y ago
  That, and the price inflation sucks. I am going to look at a former AB&B property to rent today. The ludicrous price will be discussed, if they are unwilling to negotiate, the place will likely stay empty for the summer months(AZ, in a tourist oriented corner of the valley).
  - charlesdm 8y ago
    Isn't that just always the case with a common tourist destination? If I can rent out 12 months at $1,000 (= $12k), vs 150 / 200 days at $150 (= $22.5-30k) then as a property owner you have a decision to make. Short term lets are more work, but more profitable. They'll likely not care it stays empty, because it's to be expected that on some dates and months it will not be rented out.
    - tunap 8y ago
      It is true. The beauty offer I have is I only want/need a place for June-Sept. Could be a win-win... if off-season rate can be agreed upon. Otherwise, when the boss doesn't have me staying in Hyatts & Hiltons, I am rambling when it's <100°F.
- charlesdm 8y ago
  You say "entrepreneur", but I don't see anything wrong with the approach -- as long as you follow the laws. Often the solution the the problem is that you start buying the properties rather than renting them, which means profits per unit will be (much) higher (but you will also need additional capital to support that). Or you buy an entire block with 5 or 10 apartments; then there should be no complaints.
  - scrumption 8y ago
    Because it's literally rent-seeking and leeches wealth from the economy, jacking up prices while contributing nothing?
    - icebraining 8y ago
      Of course they do - they manage a place that visitors can stay in. Which is why people pay them. And you're clearly not a landlord if you think it involves no effort. Sure, if a society thinks they cause more harm than good, by all means, ban them, but that's a different argument.
      - charlesdm 8y ago
        And a short term let business requires even more effort to run. It's a lot of work, and part of the reason why (even though I think it's a great business to be in), it's not one I really want to run.
      - throwawayjava 8y ago
        >>> a person would rent out 10 apartments at $2k/mo and rent them on at $300 a night. > And you're clearly not a landlord if you think it involves no effort. The person described in the original post isn't a landlord.
        icebraining 8y ago
        Tomato, tomato. They still have to manage renters, take care of regular maintenance (cleaning), etc. If anything they have more work than the actual landlord.

pavel_lishin 8y ago

Also pretty annoying when you can't find a place to rent, because the apartments start getting taken over by "enterpreneurs" such as your friend.

tunap 8y ago
That, and the price inflation sucks. I am going to look at a former AB&B property to rent today. The ludicrous price will be discussed, if they are unwilling to negotiate, the place will likely stay empty for the summer months(AZ, in a tourist oriented corner of the valley).
- charlesdm 8y ago
  Isn't that just always the case with a common tourist destination? If I can rent out 12 months at $1,000 (= $12k), vs 150 / 200 days at $150 (= $22.5-30k) then as a property owner you have a decision to make. Short term lets are more work, but more profitable. They'll likely not care it stays empty, because it's to be expected that on some dates and months it will not be rented out.
  - tunap 8y ago
    It is true. The beauty offer I have is I only want/need a place for June-Sept. Could be a win-win... if off-season rate can be agreed upon. Otherwise, when the boss doesn't have me staying in Hyatts & Hiltons, I am rambling when it's <100°F.
charlesdm 8y ago
You say "entrepreneur", but I don't see anything wrong with the approach -- as long as you follow the laws. Often the solution the the problem is that you start buying the properties rather than renting them, which means profits per unit will be (much) higher (but you will also need additional capital to support that). Or you buy an entire block with 5 or 10 apartments; then there should be no complaints.
- scrumption 8y ago
  Because it's literally rent-seeking and leeches wealth from the economy, jacking up prices while contributing nothing?
  - icebraining 8y ago
    Of course they do - they manage a place that visitors can stay in. Which is why people pay them. And you're clearly not a landlord if you think it involves no effort. Sure, if a society thinks they cause more harm than good, by all means, ban them, but that's a different argument.
    - charlesdm 8y ago
      And a short term let business requires even more effort to run. It's a lot of work, and part of the reason why (even though I think it's a great business to be in), it's not one I really want to run.
    - throwawayjava 8y ago
      >>> a person would rent out 10 apartments at $2k/mo and rent them on at $300 a night. > And you're clearly not a landlord if you think it involves no effort. The person described in the original post isn't a landlord.
      - icebraining 8y ago
        Tomato, tomato. They still have to manage renters, take care of regular maintenance (cleaning), etc. If anything they have more work than the actual landlord.