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Meet the host with 71 listings

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Cincinnati — Daniel Henry spends his days staging dozens of condos, apartments, and entire buildings around downtown Cincinnati. All the properties she manages are short-term rental properties.

Henry spent many years in the traditional hospitality business at hotels such as Marriott and Hilton before moving from terraced houses in Germany to luxury apartments in the Queen City. With the advent of her websites such as Airbnb and her Vrbo, she found a better way.

Henry is currently working as a City Operations Manager in a small team. Liberty Hill Rentalsoperates short-term rental properties under a host name Chris & Chris on AirbnbAccording to its website, the company offers “centrally located homes away from home for business and vacation travelers.”

Chris & Chris has 71 listings in Cincinnati. Rates range from $50 to $3,000 per night, and some include multi-family stays where costs can be split.

Chris & Chris started in 2015 in founder Chris Hikel’s spare bedroom. He put it on Airbnb to try and make some extra cash. By the time Liberty Hills Rentals officially launched in 2019, Chris owned 21 of his short-term rental properties throughout the Queen City. After recovering from a significant drop in business due to COVID-19, the company now lists more than 70 of his rental properties in at least 15 buildings in Over-The-Rhine, Mount Adams, Pendleton and Covington.

Photo credit: Liberty Hill Rentals

This Over-The-Rhine property is listed on Chris and Chris’s Airbnb account for $3,000 per night. The 3 bedroom unit sleeps up to 10 people.

Henry said most of the Chris & Chris properties are not owned by Liberty Hill Rentals.

“We actually manage for private owners,” Henry said.

Henry said Hikel owns about 25% of the property. The remaining 75% they manage are owned by locals and people living out of town. Condominiums Henry said some are single-unit properties within the complex, while others are entire buildings that can be booked for multiple rentals.

One of the buildings is right next to the Rheingeist Brewery and has various themed suites named after Rheingeist beer. Bubbles Suite, Swizzle Suite or cheetah suiteHenry said breweries often refer guests for big events, such as weddings, to stay at Airbnbs owned by Liberty Hill Rentals.

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Photo credit: Liberty Hill Rentals

According to Liberty Hill Rentals, the entire building has been renovated and can sleep up to 16 people in multiple units. It is located near the Rheingeist Brewery in OTR. Listed on Airbnb for $2,271 per night.
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Photo credit: Liberty Hill Rentals

Take a look inside a unit in the renovated OTR building that costs up to $2,271 per night.

“The Rhinegeist obviously has that event space, so we had a lot of weddings, a lot of wedding receptions. It was just another gathering,” said Henry. “Thanksgiving…usually people are looking for a place for the whole family to stay, so they’re renting out the entire building.”

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Photo credit: Liberty Hill Rentals

Liberty Hill Rentals hires expert interior designers to transform spaces.

Henry said rentals are not limited to a weekly basis. She said she typically doesn’t offer 12-month leases, but clients rent for three months to six months at a time. She’s a traveling nurse to a filmmaker who needs more than a hotel room, but she reaches out to companies because she can’t stay in town long enough to rent for a year. I’ve seen the

“I think we meet a need,” Henry said. “Our portfolio is so diverse that we can pretty much have something for everyone.”

Henry believes there will always be a need for standard hotels, but with the emergence of companies such as Airbnbsthere are thousands of options for where and when travelers can stay.

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Photo credit: Liberty Hill Rentals

Some properties have outdoor spaces available for guest use. This OTR listing costs up to $116 per night.

Their business is now growing by word of mouth, but after reaching their goal of 80 listings by 2023, Henry will reach out to other Airbnb owners for management services. I said start focusing more on asking if. Ultimately, our long-term goal is to expand our business outside of Cincinnati.

All listings can be found on Airbnb and on the company’s website, Henry said.She said some listings are now posted as well Vrbo.

Airbnb 1. PNG

Photo credit: Liberty Hill Rentals

This unit is marketed as a “huge downtown retreat” that sleeps 15 people. The rate is $570 per night for him.

short term vs long term

Property developers and property owners are moving to short-term rental plans instead of traditional 12-month leases, Henry said. This is because the return on investment is greater.

The short-term rental industry has been repeatedly accused of driving up home prices By contributing to housing shortages both in the United States and abroad. The accusations come from city councils of popular travel destinations such as Amsterdam, London and New York City.

Charles Tassel Chief Operating Officer National Association of Real Estate Investorssaid the real estate and rental market was “hot,” but we don’t typically see short-term rentals impacting the overall Cincinnati housing and rental market.

“In particular, it will not affect low-income or middle-income renters,” Tassel said. “These are luxury properties that have been converted to short-term rentals.”

These properties being rented were never in the low- or middle-income market price range to begin with, Tassel said.

according to Apartments.comMost rentals in and around the same geographic area where Liberty Hill Rentals has the most listings start at $1,000+ per month for studio apartments. Less than a mile away, the most expensive property we found was $4,302 for a two bedroom.

Overall, long-term rentals are still more available than short-term rentals in the Cincinnati area. According to Airbnb, he has over 1,000 properties in the Cincinnati area. Apartments.com has at least 2,780 listings in the Cincinnati area.

A booming short-term rental market isn’t just a Cincinnati phenomenon. home adviser,Affiliations angierecently released a report highlighting which US cities are the best and worst for rental investors. Queen City isn’t on the list, but it tends to back up what Henry said Liberty Hill is experiencing. It’s more lucrative for investors to buy and operate Airbnb properties in cities that aren’t considered destination hotspots: an investor would rather operate his Airbnb in Cincinnati than in San Francisco or New York. you can get much higher returns.

New York City, one of America’s most Airbnb cities, reportedly There are now more short-term places than actual apartments to rent.

Published by the New York City Board of Auditors report Airbnb’s rise claims it cost New Yorkers a total of $616 million in additional rent in 2016 as a result of price pressure. Airbnb responded by criticizing the methodology, saying it “grossly misrepresents its impact. [the] residential platform.

Preliminary research suggests Airbnb’s short-term rentals have some impact on home prices, but there’s still much debate about the actual increase.

What Liberty Hill Rentals (aka Chris and Chris) does is a scaled-down version of what’s happening in the country and around the world.

Fewer than 700,000 of the country’s 143 million households are in short-term rentals, Tassel said, and it’s not big companies buying them all.

“About 10% of homes bought for rent are bought by big companies. Most of them are moms and pops. It’s local neighbors who are reinvesting in the neighborhood. That’s 90% of it.” says Tassell.

Despite the recent Rental report from Redfin With rents up 32% in a year, the Cincinnati area remains one of the most economical places to rent, according to Tassel.

Mr Tassel believes the rental market is soaring due to the lack of new building projects.

“There have been some buildings, but when interest rates rise, builders get nervous and slow down,” Tassel said.

According to Tassel, the 2008 housing crisis has made many construction companies very conservative.

“Companies that survived 2008 are reluctant to overbuild because of these scars,” says Tassell.

Meet Airbnb hosts with 70 listings in Cincinnati

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