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Yes; I live in a historic district, too. When I moved in, I had 11 neighbors; we all knew each other and chatted. Now I have two, neither very close to my house. As a woman living alone, I find that disquieting.
I think it's quite ridiculous! As I said, we're not "a tourist destination," so I don't know who they think wants to spend the night here. I suppose they must manage to find people who do, though.
Personally, I prefer hotels...
Not all "tourist destinations" are touristy, if that makes sense. A nearby college, a nearby concert venue, proximity to restaurants or bars, proximity to sporting events, all can cause a draw.
I know of one person that owns one in Greensboro, NC. Nice town, not anywhere you'd visit though. But, he has it as positioned as near the Greensboro Colliseum and Aquatic Complex. Everyone from the ACC on down to the local leagues have their meets at the aquatic center. I counted 6 multi-day meets, some of them college and some of them I assume youth/high school. As an example, I watched a cousin compete there; he and his dad drove down from Washington DC area. It wouldn't surprise me if two or three families rented the place together, and avoided spending money eating out, etc. Then you have the Greensboro Coliseum which has everything from basketball tournaments to gymnastics meets to Garth Brooks concerts.
I've rented one for guests in the Pinehurst/Southern Pines area. Not what you'd consider a tourist destination, but if you golf, it is. And while the towns aren't crawling with tourists or touristy shops (though there are some at the resort) there are people that come in and out. Bachelor parties, corporate gigs, different golf tournaments, Pinehurst Resort alone operates 9 courses.
(I prefer hotels myself. But I've stayed in AirBnB's for group activities.)
Not all "tourist destinations" are touristy, if that makes sense. A nearby college, a nearby concert venue, proximity to restaurants or bars, proximity to sporting events, all can cause a draw.
I know of one person that owns one in Greensboro, NC. Nice town, not anywhere you'd visit though. But, he has it as positioned as near the Greensboro Colliseum and Aquatic Complex. Everyone from the ACC on down to the local leagues have their meets at the aquatic center. I counted 6 multi-day meets, some of them college and some of them I assume youth/high school. As an example, I watched a cousin compete there; he and his dad drove down from Washington DC area. It wouldn't surprise me if two or three families rented the place together, and avoided spending money eating out, etc. Then you have the Greensboro Coliseum which has everything from basketball tournaments to gymnastics meets to Garth Brooks concerts.
I've rented one for guests in the Pinehurst/Southern Pines area. Not what you'd consider a tourist destination, but if you golf, it is. And while the towns aren't crawling with tourists or touristy shops (though there are some at the resort) there are people that come in and out. Bachelor parties, corporate gigs, different golf tournaments, Pinehurst Resort alone operates 9 courses.
(I prefer hotels myself. But I've stayed in AirBnB's for group activities.)
Numerous people in Annapolis make a bunch of money every May during Commissioning Week renting their houses out to parents there to see their son/daughter graduate from the Naval Academy. When I say "a bunch" I'm talking a few thousand dollars. The very first one in the link, Mill Creek, is $1500. Per night.
Numerous people in Annapolis make a bunch of money every May during Commissioning Week renting their houses out to parents there to see their son/daughter graduate from the Naval Academy. When I say "a bunch" I'm talking a few thousand dollars. The very first one in the link, Mill Creek, is $1500. Per night.
I've got a buddy who lives right downtown in Annapolis, like a few steps from the Academy.
He's going to take in over $10k for the time he vacates his place for Commissioning Week this year. He looks at it as a paid vacation - he leaves town, rents his place out, and comes back from a "free" vacation. He had this in mind when he bought the place.
He and his wife also sponsor cadets every year, too, and they're around the house all the time as a result. A nice setup, really.
I've got a buddy who lives right downtown in Annapolis, like a few steps from the Academy.
He's going to take in over $10k for the time he vacates his place for Commissioning Week this year. He looks at it as a paid vacation - he leaves town, rents his place out, and comes back from a "free" vacation. He had this in mind when he bought the place.
He and his wife also sponsor cadets every year, too, and they're around the house all the time as a result. A nice setup, really.
RM
Price-gouging military families. Nice.
(Heavy sarcasm intended. I know, I know, supply & demand, right?)
(Heavy sarcasm intended. I know, I know, supply & demand, right?)
That occurs for all graduating families everywhere. But you don't have to drive far to avoid it. When ours graduated we stayed about 10 miles out and rooms were the regular rate whereas near campus, rooms were going for $500 - $1000 or more per night.
Same thing happens on typical move in day in August (or R-Day and A-Day or the USNA/USAFA equivalents) and football weekends, esp at top football schools.
(Heavy sarcasm intended. I know, I know, supply & demand, right?)
He said they actually priced their place less than surrounding similar homes because they felt bad. But yes, it's what the market will bear, I presume. That and I know they give back to the Academy by sponsoring recruits, as I've been there and there are almost always one or two hanging around on the weekend. So they're not total mercenaries. <grin>
We're along "The Bourbon Trail," so I suppose that's the idea behind it. It takes about two hours to tour the local distillery, though, so I STILL don't get it!
Not all "tourist destinations" are touristy, if that makes sense. A nearby college, a nearby concert venue, proximity to restaurants or bars, proximity to sporting events, all can cause a draw.
I know of one person that owns one in Greensboro, NC. Nice town, not anywhere you'd visit though. But, he has it as positioned as near the Greensboro Colliseum and Aquatic Complex. Everyone from the ACC on down to the local leagues have their meets at the aquatic center. I counted 6 multi-day meets, some of them college and some of them I assume youth/high school. As an example, I watched a cousin compete there; he and his dad drove down from Washington DC area. It wouldn't surprise me if two or three families rented the place together, and avoided spending money eating out, etc. Then you have the Greensboro Coliseum which has everything from basketball tournaments to gymnastics meets to Garth Brooks concerts.
I've rented one for guests in the Pinehurst/Southern Pines area. Not what you'd consider a tourist destination, but if you golf, it is. And while the towns aren't crawling with tourists or touristy shops (though there are some at the resort) there are people that come in and out. Bachelor parties, corporate gigs, different golf tournaments, Pinehurst Resort alone operates 9 courses.
(I prefer hotels myself. But I've stayed in AirBnB's for group activities.)
That’s exactly what is happening here in Gainesville, FL. A friend of mine sold her home about 5 miles from the university, and all she knew was that the buyer was a man from Miami. Turns out after talking to her now former neighbors, he was an investor, and turned her home into a short-term rental. There was no HOA. Seems he also thought he could make money renting out to people visiting here just due to all the university activities.
My development has about a half-dozen different HOA’s all governed by separate rules. A couple of neighbors who live in an HOA that is different than mine told me just last month, as a matter of fact, that they recently voted to revise their rules to eliminate short term rentals. They did this because two homes were sold to investors. Apparently, they could not make the change retroactively, and those two homes are grandfathered in. It seems there’s always a lot of drama surrounding those homes—people in and out, arguing, etc.
That’s exactly what is happening here in Gainesville, FL. A friend of mine sold her home about 5 miles from the university, and all she knew was that the buyer was a man from Miami. Turns out after talking to her now former neighbors, he was an investor, and turned her home into a short-term rental. There was no HOA. Seems he also thought he could make money renting out to people visiting here just due to all the university activities.
My development has about a half-dozen different HOA’s all governed by separate rules. A couple of neighbors who live in an HOA that is different than mine told me just last month, as a matter of fact, that they recently voted to revise their rules to eliminate short term rentals. They did this because two homes were sold to investors. Apparently, they could not make the change retroactively, and those two homes are grandfathered in. It seems there’s always a lot of drama surrounding those homes—people in and out, arguing, etc.
I was part of a failed effort by an HOA to restrict investor-owned properties. Newer HOAs have incorporated language in their covenants to prevent investor-owned properties.
Typically this is done with a "owner occupancy" covenant, that is, requiring that the owner of the property reside in the property for the first year (or two). Worst case, they leave the place vacant for a year or two, but that conflicts with the business model, meaning they would have to "hold" the property for at least a year before they could use it to generate income.
It works, as I know another community that has this in their covenants and they've been succssful in keeping institutional and private investors out.
RM
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