"If the owner hired a local property manager instead of trying to make money as an absentee landlord she would have known the risks of 30+ day rentals and wouldn't have rented the condo so casually through a place like AirBNB."
In "small business" you sometimes end up having to cut corners. The reason is there simply isn't enough profit unless you wing it yourself and learn as you go along. Taking chances.
On a larger scale of course it pays to have a property manager. Otoh if you depend on a property manager to take care of repairs (and unless they have their own dedicated crew) you will end up paying money for things that really you don't need a professional for. (Say a stopped up toilet in a commercial condo). Of course you could also save if the people they use are fair and vetted. All depends, right?
Now of course at scale all of this changes.
Anyway the people on Airbnb are mostly (with some exceptions) looking to make a buck off their homes, condos, whatever.
That said it's simply not something that I would ever get involved in personally but I can see why people do use it (both as landlords and renters).
Here's a funny story you might appreciate. I rented a vacation property that I owned (through a realtor btw - was yearly rental) and the tenant was told to deposit the rental check directly into a bank account that had been setup for this purpose. (Instead of mailing) He sent a text with this question "is it ok to deposit cash or does it have to be a check"? Now of course maybe there might be a reason why he would want to use a check but to me I didn't care as long as the money was deposited. I got a laugh out of that. Sure cash is always good.
In "small business" you sometimes end up having to cut corners. The reason is there simply isn't enough profit unless you wing it yourself and learn as you go along. Taking chances.
The owner says she bought a property in Palm Springs because she couldn't afford one in the bay area. Her biggerpockets profile says "Newbie investor, current focus on vacation rental condo in Palm Springs."
Some of her leasing activity probably violated her HOA's CCRs and she didn't research the laws. This isn't cutting a few corners to maximize profit. This is choosing to be 100% ignorant.
The owner is an entirely unsympathetic character. I've been in real estate 20 years. People like this who think they can make money as absentee landlords and are too lazy to understand the business and laws lose their shirts 99.9999% of the time.
In "small business" you sometimes end up having to cut corners. The reason is there simply isn't enough profit unless you wing it yourself and learn as you go along. Taking chances.
On a larger scale of course it pays to have a property manager. Otoh if you depend on a property manager to take care of repairs (and unless they have their own dedicated crew) you will end up paying money for things that really you don't need a professional for. (Say a stopped up toilet in a commercial condo). Of course you could also save if the people they use are fair and vetted. All depends, right?
Now of course at scale all of this changes.
Anyway the people on Airbnb are mostly (with some exceptions) looking to make a buck off their homes, condos, whatever.
That said it's simply not something that I would ever get involved in personally but I can see why people do use it (both as landlords and renters).
Here's a funny story you might appreciate. I rented a vacation property that I owned (through a realtor btw - was yearly rental) and the tenant was told to deposit the rental check directly into a bank account that had been setup for this purpose. (Instead of mailing) He sent a text with this question "is it ok to deposit cash or does it have to be a check"? Now of course maybe there might be a reason why he would want to use a check but to me I didn't care as long as the money was deposited. I got a laugh out of that. Sure cash is always good.