A nine-bedroom home on Dolores Street near 16th Street is for rent for $18,000 a month, possibly as an “Airbnb Cash Cow” or a tech incubator.
The broker, Bill Harkins, said any master tenant who chooses to pursue the rental as an Airbnb short term rental rather than a family home or a home for several roommates would have to follow all city ordinances, which includes getting a business license and registering as a short term rental hotel with the city. He added that he got the idea that someone might like to use the building as such from a former tenant, who told him she made $70,000 a year providing short term rental rooms.
“The only way they can do it is by following every single rule that exists,” Harkins said. “If there’s somebody who wants to have an Airbnb business there is an opportunity there to work within the rules of the city and make a good profit at it.”
Since the owner, whom Harkins represents, would be held responsible by city agencies if they were to enforce on a violation of the city’s short term rental ordinances, Harkins said he would draw up a contract that would specify that the tenant would be in violation of the lease if they broke city rules around short term rentals.
Harkins didn’t speculate on how much the rooms would have to go for for the master tenant to turn a profit, but $18,000 a month, each bedroom already costs some $2,000 a month. The building has been newly renovated and boasts 5.5 remodeled bathrooms, a shared rear yard, and a new kitchen.
This isn’t the first time Bill has marketed a property as a “great tech incubator or Airbnb cash cow!” This one on Dolores is definitely on track to violate that 90 day limit:
I wonder how the neighbors will feel about the new hotel in their midst.