Gary L Jurkiewicz | Indy Week

Gary L Jurkiewicz 
Member since Apr 21, 2015



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Re: “Oakwood Inn owners announce plans to close


We would like to reduce our expenses. About 75% of a B & B's costs are fixed; mortgage, property taxes, and insurance. The banks will not refinance our mortgage currently at 6.5%. If we could get 4.0% like other people we would reduce our monthly payment by $1,500. The banks will not give us a new mortgage because we are running a business out of our house. The Inn is a registered business with the city and is inspected by the fire marshal and health department all inspections have fees; $100 and $120 respectively. We have to charge the sales tax and occupancy tax. The Airbnbs do not pay any of these nor are inspected because they are not registered businesses. Their mortgages are at a more reasonable rate since the bank does not see the business activity since they are not registered. There are over 400 of these establishments just in Raleigh; over 1800 in NC. We abide by all rules and regulations; the Airbnbs do not. We have to pay for the creation and maintenance of our website Airbnb provides it to their members, free. The Airbnbs also get an insurance policy to cover damage and such free from AirbnB, we pay for ours. We don't have a problem with the Airbnbs except they are doing the same thing we do, but do not follow the same rules and have a lot of free services. You can not compete with that. And we do offer many amenities; more than most B&Bs and Airbnbs.... that is not the issue. If the competition had to follow the same rules, I'm sure many owners would stop or the fire marshal and health department would not allow them to even open if not following the regulations.

I hope this provides more info than what the news media is providing. They are only citing the competition of the Airbnbs, but it goes beyond the fact of pricing.

Gary Jurkiewicz, Owner of the Oakwood Inn

1 like, 0 dislikes
Posted by Gary L Jurkiewicz on 04/21/2015 at 11:36 AM

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