Adding a rental to distant hunting property

G

gjs4

5 year old buck +
In our my forever worlds-wildest property saga ..... we had another unforeseen turn of events and ended up getting the neighbors building lot under contract. So this gives us two building lots just outside of a college city with limited lodging. I have done some research, both by seat of the pants being unable to find lodging and apps like AirDNA/etc, to know there is a market where we should be in the hunt of it being +or- 10% of paying for itself. Being the hunting podcast nerd....I have heard multiple mentions but no in-depth discussions on how to add an AirBnb type rental just positive experiences doing so .

Does anyone on here have any experience with short term rentals?
 
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Theres more and more by me in the catskills. To make it work, you got to find a reason for people to be their outside of hunting season. Being there during hunting season don't sound like a good idea, unless the building lot is a bit down the road. I do know most airbnb folks do have tresspassing / poaching issues in my area.

To mak it work well, you need a property manager / realty company who is pretty good.

What you looking to do collect a little cash, or make it a for profit thing. Somehwat lowballing make more people show up.

If the area lacks ammenities, like a water park for example. Then you must have ammeneties there, like hottub nice fire pit.

Got anything like ATV trails in the area, good fishing? How far away are you from a large lucrative city? Even stuff like parents visit summer camps, church retreats nearby, wedding venues helps out alot.
 
The location is pretty great- 1/2mi from the college but its a single lane dead end road. Lots desired hiking, ATVing, MTN biking, breweries, hippy dippy stuff,......that portion is the easy reason to do it. No water parks but I can leave out of a plastic tarp and a hose.... lol

Tenant trespass would not be a good thing. I wouldn't allow dogs either.

There are multiple AirBnB management companies in the area.
 
I'd be more inclined to build a couple of duplexes, looking to get year long renters, rather than short term rentals turning over on a weekly basis. A better opportunity to vet your renters and get ones who follow your boundaries.
 
So you're wondering about building 1 or 2 small homes on these lots that adjoin your hunting property? And doing short term rentals? Just trying to be clear. Sounds like a nice vacationy area.
 
So move in and graduation you'd be booked. What about the rest of the year?
 
I wouldn't do it right on my hunting property,There are probably as many nightmares stories out there as good ones.I had a triplex for years and it was on the combined note for farm and paid for 3/4 of it but it was in town. I have a rental farm house on my but he is a good renter and never leaves the yard area.Also he watches for things that aren't supposed to be going on. I would plant trees there to move or NWSG,You may want to re zone them as it would cheapen taxes
 
I would be more inclined to rent to students. It's pretty straightforward. It would depend a bit on the type of college.

If I were going to invest that much money, I would definitely do some due diligence. What percent of student rentals are occupied? What percent of the year are short-term rentals occupied? What are the going rates? What is the market lacking in terms of number of bedrooms? Is there a reputable property manager?

You definitely want to provide what the market wants. Don't just offer what you want to offer and hope it succeeds.

Also, put each house in its own LLC. It won't protect you 100%, but it will help.
 
I would price what it will cost to build a new house there also
 
Mortenson said:
So you're wondering about building 1 or 2 small homes on these lots that adjoin your hunting property? And doing short term rentals? Just trying to be clear. Sounds like a nice vacationy area.
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Yes- ish. Build a place to be there for us....but try and have the rental revenue pay for it.
 
Electrodigical said:
So move in and graduation you'd be booked. What about the rest of the year?
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A failed miss on my behalf- places are typically booked due to something around the college (moms wknd, dads, homecoming, big games, etc). Summer time had the touristy stuff where what is being offered matters more than just a random room
 
Buckdeer 1- This is where I am likely being niave and am glad to have asked. I figured it was that random outlier that was a PIA for for a short term rental...not a frequent enough portion to be a concern. Love your idea with screening too!


Telemark- I never thought of of long term renting and had gravitate toward the short term to get the most funds coming in but keep the place for myself for my few property ventures offseason and hunting trips in the fall. While our thoughts and budgets were more along the lines of something prefab and "tiny home like" (as this region, Hocking Hills Ohio, is know for that...and not far from Amish country) for both expediency and cost. This is a "cheaper" area to build but too far from home to GC or do things ourselves and good help is not easy to find unless theyre pilaging an out of towners finances...and even then, the list is short for something less than a couple hundred grand.
 
gjs4 said:
Yes- ish. Build a place to be there for us....but try and have the rental revenue pay for it.
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IRS rules are pretty specific about using an AirBnB type property for your personal use, you'll want to look into that.
 
What if you pay when you're there? :)
 
My next thread will be "what aliases ...." 😉
 
this summer my extended family got together. We rented an air bnb on 30 acres that included a small amount of lake front with access to a dock. The lot had 3 structures. One was a very nice house (maybe 4 bedroom), then a 2 bedroom cabin, and a pool house with some sleeping space. We had 19 there. I believe it was $1,300 to $1,600 per night, but divided among that many people it seemed quite cheap for what it was. We brought a pwc and an atv. We had kids fishing & boating & kayaking all week.

Its owned by a lawyer who lives in a nearby city. It is their getaway / vacation spot. They have a local person who handles checkin/out and cleaning. They block out days they want for themselves, and over the winter they don't really want to deal with the hassle of people, so currently the price is about double. When spring comes and they want business again, they'll lower the price again.

It seems to work well for them, but I don't know if they're looking at it as partially offsetting cost, or fully funding it.
 
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