The 75% rule stopped me from doing Airbnb on this cliff side property

BNB UNIMar 1, 20240m 58s441 viewsScore 75
Regulations & Compliance
intermediate
Local Regulations
HOA
Airbnb
Profitability
M

Summary

AI-generated

The host managed a cliffside penthouse as an Airbnb, despite opposition from other residents. After warnings, the building passed a bylaw requiring 75% of owners to agree to allow short-term rentals. Although eventually forced to stop, they made significant income by delaying the implementation of the bylaw for 18 months, earning more than traditional rental rates.

Key insights

  • Delaying the implementation of restrictive bylaws, even temporarily, can allow hosts to generate significant income from STR before being forced to comply.

Mistakes to avoid

  • Continuing to offer STR in a building that restricts it can lead to legal action and lawsuits from the HOA and residents.

Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial