Airbnb developing their own vacation rental property in Mexico?

Riviera-Maya News recently posted that Airbnb is building their own luxury apartment complex in the Cancun Hotel Zone, which will compete directly with the hotel sector.

This, they write, came from real estate developer Miguel Ángel Lemus Mateos, who reports that the vacation property platform is in the process of building a 12-apartment real estate project in the Hotel Zone that will cater to luxury vacationers.

Lemus explained that the investment is ready and construction will begin at the end of 2018. The project will have nightly prices reaching as high as $1,000 USD and each apartment will be completely furnished, offer luxury finishes and a minimum of three bedrooms.

This is not Airbnb’s first venture into developing their own real estate projects. There’s already a 324-unit building in the works in Kissimmee, Florida, and Airbnb’s developer partner plans to open at least three more U.S. based projects by the end of 2018.

This seems to be Airbnb’s way to get around tight rental restrictions that effect tenants who want to rent out their units when they aren’t using them. HOA regulations in many U.S. and Canadian city apartment buildings often limit the extent to which this can be done. So rather than trying to convince them otherwise, Airbnb is just building their own rental apartments without the restrictions.

In Airbnb’s Florida project, tenants will have permission to sub-rent their homes on Airbnb for up to 180 days per year, as long as they give their landlord a portion of the revenue they make. The apartments also will be designed to make life easy both for home-sharing hosts and guests — with features such as keyless entry, shared common spaces and a “master host” at each property who can assist with checking guests in and cleaning. The package comes with a new Airbnb-integrated app that tenants can use to manage their short-term rentals.

Written by John Youden – View original article on MLS Vallarta

PVR Property Management