AirBNBing my 5 unit apartment

[Nick Rutkowski]

Does anyone have experience/ could give me their feedback on my idea? I have the opportunity to turn my 5 unit into an AirBNB. I’ve talked to my tax accessor, code enforcer, and village to make sure we comply with zoning, taxes, and village rules. I’ve got the green light and I can get a permit for transient tenants.

I see a lot of us own Single Family Vacation homes and are crushing it. But have any of us turned their apartment complex into an AirBNB? I make 100-300/month extra per unit if I BnB rather than renting. Should I go through with it?

[Julie McCoy]

@Nick Rutkowski I agree that $100-300 extra per month is not worth the effort (because it's a LOT more effort than LTRs). However you can also get your feet wet slowly... get leases on four of the five, and experiment with the fifth unit as a STR. If it does great, convert the next unit to be vacant. Rinse and repeat.

Consider you'll have to furnish all 5 units (including stuff like kitchen supplies, linens, etc) - cover your nut with long-term leases, and see if STR is going to be worth the hassle and expense.