BuildYourBnb - Resources, Tools and Insights For Short-Term Rental Investors

Property Summary

This property was a newly built townhouse with 4-bedrooms and 4 ensuite bathrooms.

The property is located in a special commercial zoning that permits it to run non-owner occupied short-term rentals. This did come at a premium in terms of price.

The property is custom-designed to be a high-end short-term rental for larger groups. However, the design of it also makes it easy to rent out by the room on longer-term stays when necessary (as every room has its own bathroom).

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Launch Costs

Category Expenses

Closing Costs $10,623
Furnishing $21,211
Pre-Launch Costs $5,675

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Work performed

This property was brand-new, so it allowed us to get started without investing anything into renovations. On the other hand, since it was higher end than the other ones we’ve done, furnishing needed to reflect that so we spent a bit more than usual to design and furnish the unit.

Timeline

Since the property was brand new, the process of setting it up and furnishing it was quite quick. The main delay was caused by the time it would take to get the short-term rental permit. Due to the long waiting list, we spent a good month just waiting for it. That said, closing to launch was about 1.5 months

Get involved

If you’re looking to launch your own short-term rental properties or want to be involved in larger syndications that we organize, reach out and let’s set up a chat.

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