Are you thinking about buying a condo in downtown Austin that you can rent short term through Airbnb or a similar service? You may be surprised to find out that only a few condos in the downtown Austin area allow home owners to rent their condos as short term rentals.
The Railyard Condos located in downtown are one of the only condos downtown that allows short term rentals. These condos perform quite well as short term rentals due to their location near the Austin Convention Center. The Railyard Condos in downtown Austin were built in 1983 and are located in between Brazos and San Jacinto on E. 4th St. in downtown Austin. This condo that allows short term rentals features condos ranging from one to three bedrooms. The three bedroom condos at the Railyard condo complex in downtown Austin perform the best as short term rentals. Unfortunately, these three bedroom units are unicorns. Only one came on the market this year in Austin and it came with a hefty price tag of $632 K.
Another advantage of the Railyard Condos is that the HOA fees are relatively low for a downtown Austin condo, and they cover a lot. HOA fees at the Railyard Condos cover the usual common area insurance as well as internet, cable, trash, and water. If you can find a condo for sale at the Railyard for a decent price it’s highly likely that you can get a great return operating the condo as a short term rental.
Recently, I have heard rumors that the Brazos Place condos have also started to allow short term rentals. However, the Brazos Place Condos’ HOA dues are about twice as much per month as those for the Railyard Condos. I would like to see a copy of the HOA documents to determine if the Brazos Place condos in downtown Austin really do allow short term rentals.
The only other condo I’m aware of in the downtown Austin area that allows short term rentals is the soon to be completed Fourth & project. The Fourth & condos are expected to be completed at the end of this summer and a percentage of these condos have been allocated to be used as short term rentals. Fourth & is a mixed-use, sustainable, condo development located just east of Austin’s downtown. Click here to learn more about this condo that allows short term rentals.
Are you thinking about buying a condo that allows short term rentals in the downtown Austin area? Contact me today to learn more about the condos that allow short term rentals and the condos that will deliver the best return on your investment. Curious how to manage that condo that allows short term rentals? I can help with that too! You may also be interested in reading this post about short term rentals in Austin.