Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Short-Term & Vacation Rental Discussions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 3 months ago on . Most recent reply

User Stats

11
Posts
14
Votes
Gretchen Williams
  • Investor
  • Fort Myers, FL
14
Votes |
11
Posts

Subletting company a scam?

Gretchen Williams
  • Investor
  • Fort Myers, FL
Posted

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!

Most Popular Reply

User Stats

28,057
Posts
41,057
Votes
Nathan Gesner
  • Real Estate Broker
  • Cody, WY
41,057
Votes |
28,057
Posts
Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied
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
business profile image
The DIY Landlord Book
4.7 stars
165 Reviews

Loading replies...