Do you have an Airbnb in southbend Indiana.. have some ?

[Aviva14]

Hi, 

I am thinking of buying a property in southbend. It has a pool and jacuzzi and is about seven mins from Notre Dame. It would be my first rental and I’m looking for some advice, thoughts about the neighborhood, legal part 

anything you can offer. 
looking forward to hearing from you! 
Aviva 

[Sally221]

Dear Aviva, a place with a pool & Jacuzzi might all too easily translate into party house, especially if you are a remote host. Be ultra careful- make sure you have adequate ins.that will cover damages (the million dollar guarantee is a mirage) I would avoid instant book & set the minimum stay at 3 days at first - instant book is the default setting  when you go live. If you are a distant host find a partner in the area to be your front line person.

Be aware that most colleges are not having a steady stream of out of town visitors these days & it may be a while before things can return to anything like normal. Is it feasible to do a traditional rental if airbnb doesn't work out so well? I'd be very careful indeed, there are many variables involved and being a host is not always easy money, best of luck.

[Laura2592]

Yes-- this has "party house" written all over it. Near a university. Pool. Jacuzzi.

I would not recommend that for your first Airbnb. I would want something small and easy to manage that I could get to quickly if I needed to. If you do decide to go ahead, explore your insurance options very carefully.  Pools are a lot of maintenance especially in a climate where you can only swim a few months out of the year. There can be serious liability issues with small children in your space as well. YOu will need adequate fencing.  You will need to make sure it is maintained to the proper PH levels. You need to think carefully about how close the property is to people who will be disturbed by noisy guests. Do not offer single night stays. Expect that you will need to have a pretty significant monetary cushion for damages because Airbnb won't be much help.

Look at local laws and restrictions. Understand that in many places in the US you are a landlord after 30 days and no longer a "host" and that your tenants have rights. Read community message boards and search Airbnb to see if there are other listings near by-- what sorts of issues do they face? Know too that you will not be able to transfer bookings if this place you are looking at is already an Airbnb. You will start from scratch no matter what the other hosts have done.

A lot of hosts got caught without cash reserves during this pandemic. Understand that this is an odd time to start a hospitality business. Real estate prices have not dropped in most areas despite dismal job outlooks. In fact, properties near me are FLYING out the door at inflated prices and multiple offers. I might wait and do a bit more research before I took the plunge.  Maybe try being a co-host to see what is entailed?