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I'm a landlord, when my tenant asked I gave a hard no. The price premium I would've expected wouldn't have made it worth it to my tenants, and any lower I wouldn't be willing to take on the risk.
No. 3 apartments over 8 years (I used vacationhomerentals b4 airbnb) and I've never checked with landlord. My bro used to pay off his doorman and super, but after 5 years, got kicked out.
I would just do Airbnb myself and kick the tenant out instead of dealing with %s and middlemen.
I should clarify that I actually own a house in Oakland. But I'm considering renting it out and moving into SF. But with rents for a decent 1BR at $3500/month, it's a bit steep. So my logic is: rent a place out for $3500 and then Airbnb it while I'm traveling for roughly $300/night. Was thinking of working out a roughly 50/50 deal with the landlord. So if I rent the place out for 15 days a month, that's an extra $2250/month in each of our pockets. If my tenant propositioned me with that offer it would be hard to pass up.
As landlord, I have a specific clause preventing renters from doing that. Uncontrolled wear and tear, building issues, etc aren't worth it to me
K1, most landlords don't because of zoning, insurance, maintenance, and taxes.
OP - for you the net outflow is still $1250 . Not sure how do you say "extra" ? Unless your Landlord says don't pay me the rent and I am okay with Air bnb ONLY . As a landlord , what incentive do I have and why you to be specific ?
You're essentially taking a property management position on a much more frequent scale. Airbnb won't get you the kind of premiums over a regular months rent to justify it (haven't done the math, just suspecting). If I rent my place for $1500 and pay 10% to a property manager, that's $1350 to me without lifting a finger. If you want to realize any kinds of savings, utilization would have to be really high wouldn't it
AC2: True my net outflow would be $1250 on the SF rental. However, as I mentioned I would be renting out my house in Oakland which would rent for about $3500/month. I'd actually have a net inflow of $2000/month once you factor everything in. As for the landlord, they would be collecting about $5750/month ($3500 rent + $2250 Airbnb), with $3500 of that guaranteed.
Seems like a compelling opportunity for the landlord. I understand it increases their risk and wear and tear on the property, but produces a lot of additional income for them. Just curious if anyone's had this conversation with their landlord and how it went.
^what he said. We outlawed it in my condo for this exact reason. Why would I beat all the risk as the owner while getting only 50% return?