NYC Rentals to Tourists (Airbnb/Wimdu/9Flats)

[Andrew Potievsky]

Hello BP,

I currently live in NYC and I'm considering of buying property in NYC for the sole purpose of renting them out to tourists.

I've tried this initially in my current apartment and came to the harsh realization that the law is not on your side and I came very close to being evicted myself. I made quite a bit of money during the summer season but it all ended when a tourist asked my doorman "where is apt## because im staying there for a few days"

Is there anyone on this forum that rents out their NYC property to tourists and has overcame the legal hurdles? How did you overcome the legal risks (avoid doorman building, etc?) Is this an industry that is worth entering now or is it close to saturation in NYC?