A rising number of luxuary apartment buildings in downtown, such as the Pinnacle, are becoming a magnet for entrepreneurial renters and start-ups looking for handsome profits from home-sharing websites. (Alejandro Tamayo/The San Diego Union-Tribune/TNS)

In San Diego, The Hottest Hotel In Town Is An Apartment Building

By Lori Weisberg and Phillip Molnar
The San Diego Union-Tribune

WWR Article Summary (tl;dr) While the thousands of vacation rentals scattered throughout San Diego communities are still dominated by homes, condos, duplexes and shared rooms, a rising number of amenity-filled apartment buildings are becoming a magnet for entrepreneurial renters and startups looking for handsome profits.

SAN DIEGO

The online rental listings tantalize with descriptions of stunning city views, marble bathrooms and quartz countertops, rooftop lounges and state-of-the-art gyms, all hallmarks of the latest in downtown luxury apartment living.

Interested? If so, no need to sign a lease; these listings are for overnight stays promoted on vacation rental platforms advertising nightly rates in buildings populated by long-term tenants.

Thanks to the mushrooming popularity of home-sharing platforms Airbnb and VRBO and less familiar sites like Stay Alfred, the increasingly lucrative business of short-term rentals is migrating to the luxury apartment building.

And it’s often under the radar of the building owners themselves. That’s because most leases forbid subletting rental units.

While the thousands of vacation rentals scattered throughout San Diego communities are still dominated by homes, condos, duplexes and shared rooms, a rising number of amenity-filled apartment buildings are becoming a magnet for entrepreneurial renters and startups looking for handsome profits.

So much so that the frequency of vacation rentals at one downtown high-rise, the 46-story Pinnacle on the Park, led one Yelp user to joke it should be called “Hotel on the Park.”

Even Airbnb has jumped on the bandwagon, launching last year its Friendly Building program designed to forge above-board, short-term rental partnerships with apartment building owners and their tenants.

Still, building managers and owners remain wary of opening up their high-end complexes to a constant stream of vacationers, and they’re equally wary of talking about it, as are the tenants who engage in the practice.

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