Shor-term rentals (e.g. AirBnB) in a building with LT tenants??

[Mark Kappelman]

Hello - We are considering doing short-term rental (STR) (e.g. AirBnB) in two of the units in an 8 unit building that we own. Does anyone have experience doing STR on a subset of units in a multi-family building with primarily long-term (LT) tenants? My gut is that the other tenants aren't going to like it, but I'm wondering if anyone in the community has experience with this that they would share (e.g. tips/tricks/best practices). Thanks!

[Paul Sandhu]

I have a 14 unit apartment complex. They all are 2BR 1.5 bath. They used to be older retired people that would pay $400/month. We had several 2 BR houses that were bringing in $350-$525 per week. Once one of the apartments became vacant, we furnished it and charged $400/week. Now, 11 of them are STR's. The LT tenants can't really complain because they are the minority. Currently, there is no vacancy and a waiting list.