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Updated 3 months ago on . Most recent reply
![Gretchen Williams's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/877372/1694573130-avatar-gretchenw1.jpg?twic=v1/output=image/cover=128x128&v=2)
Subletting company a scam?
I have a duplex in Columbus , OH. One side is traditional rental and the other side I have furnished and have been renting as STR. I advertise on Furnished Finder, Zillow etc. Recently I have had 2 different people kinda proposing the same thing: they want to sign a year lease with me not to live there but to then in turn rent it out short term to others. Since I have been semi successful with this approach I can see it working. However neither person is local , they both have filled out applications and seem to check out , but both have "Not for Real ID" IDs which seems like a red flag to me. My friend recently told me of this scenario where the person I lease to would perhaps then double book individuals and keep deposits.
Was just curious if anyone else has been approached in this manor, and if I am just overthinking this.
thank you!
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Quote from @Gretchen Williams:
This is called "arbitrage," and most will tell you to avoid it. You already spotted some red flags. You lose control of the property. You have no idea if they are following the law, AirBnB rules, paying taxes, etc. When the money dries up, they'll leave just as quickly as they arrived and you may be stuck with a real mess.
If it can produce more money as a short-term rental, do it yourself.
- Nathan Gesner
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