ANN ARBOR, MI -- A new short-term rental housing service comparable to Airbnb and VRBO -- but specializing in college towns -- is coming to Ann Arbor.
The service -- Graduate Homes, an offshoot of Graduate Hotels -- will handle the booking, marketing, planning and cleaning for the homes.
The university-targeted, short-term rental is the “first of its kind,” said Daniel Schor, a partner at AJ Capital Partners.
“For the guest, it’s the unprecedented hyperlocal experience, affordable concierge offerings and the chance to stay in the thick of it – and feel like a college kid again,” Schor said. “For homeowners, we’re taking the heavy lifting out of the equation and giving them back exclusive access to Graduate, as well as highest returns on their rentals.”
While short-term rental properties that aren’t owner-occupied are officially banned in Ann Arbor’s residential neighborhoods, owner-occupied homes in residential neighborhoods can be rented out occasionally under the city’s rules.
The company is currently looking for Ann Arbor residents who want to rent out their homes.
They seek “luxury residences” that are upward of 2,000 square feet and have at least four bedrooms and two bathrooms, a full-sized kitchen and outdoor spaces for gathering. Homes will ideally be located within five miles of major university venues or a Graduate Hotels location and be within walking distance to campus.
Graduate Homes is part of Graduate Hotels, which bills itself as “hand-crafted boutique hotels, located in the heart of the most dynamic University towns in America.” There is a location in Ann Arbor at 615 East Huron St., according to its website.
“Building upon the Graduate experience through upscale short-term home rentals was a natural expansion for us,” Schor said. “Our hotels will always offer a distinct guest experience and that is our core offering, but through Graduate Homes we’re able to accommodate an entirely new guest demand and stay category, as travelers will be able to host tailgates, gather family members and feel at home in an entirely new way.”
Short-term rental properties have been the subject of debate in Ann Arbor. While dedicated short-term rental properties that aren’t owner-occupied are officially banned in Ann Arbor’s residential neighborhoods, they are still allowed in the city’s mixed-use zoning districts, just not in residential neighborhoods.
In May, City Council voted 7-4 to OK new rules with exceptions allowing existing short-term rentals like dedicated Airbnb houses to remain in neighborhoods where they had already been operating.
For more information about hosting with Graduate Homes, visit the website here.
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