Short-term rentals

[dm97]

Please share your thoughts on completing an appraisal with short-term rentals. If you do complete these, do you get your data from vrbo.com or airbnb.com? Is there a different form that can be used other than the 1007?

 

[BRCJR]

Please share your thoughts on completing an appraisal with short-term rentals. If you do complete these, do you get your data from vrbo.com or airbnb.com? Is there a different form that can be used other than the 1007?

 

[Bobby Bucks]

There is a good thread on that topic here. https://appraisersforum.com/forums/threads/1007-and-short-term-rental.239326/

 

[Terrel L. Shields]

STRs are meaningless to value a property.

 

[Fernando]

STR is like running a hotel business. Too much management issues for me and unpredictability in stable rent.

 

[Tom D]

I would think you would need a minimum of 12 months data to average out the seasonal, highs and lows, etc.

Better have a sweet work file.

 

[alebrewer]

STRs are meaningless to value a property.

Except as a going concern - a type of valuation very few residential appraisers are familiar with.

 

[dm97]

Thank you all for your input. I really appreciate it.

 

[BRCJR]

Except as a going concern - a type of valuation very few residential appraisers are familiar with.

....and a value disallowed for a regulated lender to use for the real property lending decision.
If using the Going Concern valuation it becomes a business loan.

 

[Bobby Bucks]

Except as a going concern - a type of valuation very few residential appraisers are familiar with.

Yes, those residential guys are the bottom of the industry barrel.