This Michigan City Named One Of Worst Places To Own A Vacation Rental
Everyone in the midwest wants to visit Michigan, especially during our beautiful summer months. With picturesque locations like pictured rocks, the shore of Lake Michigan, and even some of our incredible dunes, we have some of the most beautiful places in our back yard.
According to Michigan.org, the mitten state sees millions of visitors annually. In fact according to experts, in 2018 we saw around124.8 million people in the state who spent around $25 billion dollars while they were checking out all of the pure Michigan we have to offer.
So it may seem like a smart move to cash in on the tourists who are visiting by opening your own air b&b or rental house, but there are a few spots that aren't ideal to develop for strangers.
According to Lawnstarter.com, some of the worst cities in the country to own a vacation rental are right here in Michigan. They combed the numbers of how much money is possible to be made as well as the saturation of rentals in the area, amongst other factors to find these answers.
What city is the worst in Michigan to own a vacation rental?
If you're thinking about starting a vacation rental or Air b&b in Warren, you may want to think again. Sitting at 143 of 180 cities they analyzed, Warren sits at the bottom of the list due to it's lack of nearby entertainment options and how high the operating expenses are to the owner of the property.
If you're thinking the lower property values with lots of entertainment options of Detroit might be a good choice, you'd want to think again too. Guest safety causes them to rank lower, as well as the legality of having an air b&b makes it not worth the effort, which makes it sit at number 140 in the country.
The best city that made the list was Grand Rapids, which still didn't make the top 50. This West Michigan city is ranked 57th in the country for opening a vacation rental. While there is a lot of potential revenue to be made, operating expenses and a lack of nearby entertainment options caused Grand Rapids to fall short of being one of the best in the country.
You may want to stick to smaller towns by the Lake Michigan coast if you want an easy rental to own. Good luck, god speed, and here's hoping you can outrun the air b&bust that is currently happening across the country.
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Gallery Credit: Big Joe Pesh