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+--- Thread: Thoughts on Detroit (/showthread.php?tid=18)
Thoughts on Detroit - RatherBTraveling - 01-17-2024
I've got a house in the Corktown area of Detroit (up and coming neighborhood) and after a few bad experiences with regular renters I'm considering doing Airbnb. I'm a pretty short walk to a lot of bars and restaurants, a casino, and about a mile from downtown where the major stadiums are. The house was recently renovated. I've heard the market in general is flooded and over-saturated, but my goal is actually to just get between 10 - 25% occupancy throughout the year. AirDNA has occupancy rate data for vacation rentals in the area around 15-30%. Any other locals with thoughts?
RE: Thoughts on Detroit - LMN109 - 01-18-2024
As someone who’s not from Detroit, but just visited recently, Detroit is a very cool city with a lot to offer! The Detroit institute of arts is incredible and easily worth spending an entire day in. The neighborhoods are unique and have a lot to offer. The lions are no longer chumps. Plus, you've got a casino in your downtown area.. how many other major cities have that? If it’s not a big tourism market now, it will be soon.
RE: Thoughts on Detroit - staying4free - 01-18-2024
what do you have to lose?
RE: Thoughts on Detroit - RatherBTraveling - 01-19-2024
(04-29-2024, 01:47 AM)staying4free Wrote: what do you have to lose?
I should have mentioned this is also my primary residence so I'd be having strangers come into my own. But, I mean I had normal renters in the past and it didn't always work out so well either..at least this way I can possibly have more nights with the house to myself.
RE: Thoughts on Detroit - tcook052 - 01-21-2024
just remember, the clientele you get from people that are looking for "just a room" for a short period may be drastically different than when you are renting out an entire house. As long as you are careful in screening guests (TURN OFF INSTANT BOOK AND LAST MINUTE BOOKINGS) and ask guests what they are looking for in your property and look at their prior reviews you should be ok.
RE: Thoughts on Detroit - RatherBTraveling - 01-22-2024
(04-29-2024, 01:51 AM)tcook052 Wrote: just remember, the clientele you get from people that are looking for "just a room" for a short period may be drastically different than when you are renting out an entire house. As long as you are careful in screening guests (TURN OFF INSTANT BOOK AND LAST MINUTE BOOKINGS) and ask guests what they are looking for in your property and look at their prior reviews you should be ok.
Sound advice, thanks.
RE: Thoughts on Detroit - Congarde - 01-02-2025
I live near Corktown and think it’s got a lot of potential, especially with the recent growth and its proximity to downtown, the bars, and stadiums. I’ve considered Airbnb myself in the area, and while there’s definitely a lot of competition, the foot traffic around here helps. If your place is nicely renovated and you can market it well, I think you could hit your target occupancy. Just keep an eye on pricing and adjust to the demand, especially in different seasons. It might take some time to find the right balance, but it’s definitely a good spot for it.