How do we appraise these AirBNB and VRBO houses?
Recently, I taught my 2nd continuing education class for appraisers in Colorado. The topic was how to appraise AirBNB and VRBO single-family houses, collectively known as Short-Term Rentals (STR’s). We discussed the place that STR’s have in the new sharing economy that we find ourselves in, the need for standardization between appraisers, buyers, sellers, realtors and lenders, and the appropriate method for valuing these unique properties that is also USPAP compliant. We presented two case studies of single-family homes that were both purchased for short-term rental. Interestingly, one property had a value above the real estate value and one did not. If you are interested in continuing education, please visit our website at bellferris.com and contact us.