AirBnB Bedrooms while I'm In The Living Room?

Question

Thinking about doing this for extra income on a prospective property (Class A neighborhood, but tenant leasing below market rent and I'm out about $1000/mo after all expenses). Has anyone else done so? Security concerns/liabilities? From what I've seen, doesn't look like my municipality has short term rental restrictions or occupancy laws in their code, but not sure where to look in the ordinances for this or what it's referred to.

John Underwood · Answer

If your ok with a potential serial killer being under your roof, but what could.go wrong?

Scott K. · Answer

I'm just gonna come out and say it because everyone is being polite. This is a horrible idea. No. Please no. Just sleep in a bedroom and rent out another like a normal person.

Kayla Givens · Answer

Hey, @Joey Gorombey! Seems like you're getting some mixed feedback here but it really comes down to how hungry YOU are to get cash flow and move on to your next house hacking property. If I was you, I would absolutely go with that strategy -- how long have you owned the property? How long would you have to do this model until you were ready to purchase your next house hack? 12 months (if that's how long it takes) is really not that long in the grand scheme of things and if it gets you closer to your next property... Go for it!

Check this reel out from Craig Curelop - he did exactly what you're talking about and became financially free after his 3rd property.

Michael Baum · Answer

Nothing says class like a cardboard partition.

Marc Rice · Answer

@Joey Gorombey

Sounds unsustainable over the long term and if that’s the only way the deal will work it doesn’t sound like a good deal. Maybe if you could put an airstream or RV out back and live in that that may be more sustainable but I’d just be careful without having a separate private space. I know Craig Curelope did a podcast on his experience staying in a basement of his home in Denver while he Airbnb’d the rooms out.

Marian Smith · Answer

@Joey Gorombey Prospective property? out 1k month? why not find something with numbers that look better?

Joe Splitrock · Answer

It would be kind of weird having you sleep in the living room if the space didn't have it's own door. I would clearly state in your listing that "owner sleeps in the living room". People renting rooms will expect some use of common areas unless you clearly state otherwise. Overall the strategy could make you some money. Just be careful the weirdness doesn't negatively affect your reviews.

Account Closed · Answer

Shared spaces like this have to be heavily discounted below private spaces, so you will have prices on the low end of the local market. Low prices attract problematic guests. Problematic guests in shared spaces... can cause you a lot of anguish, stress, and other issues. You cannot rely on Airbnb to protect you. You need to be in a fairly desperate situation to justify this strategy.

Jon Sheriff · Answer

I use this strategy here in Ohio. 4 bedroom houses and up. I do exactly this. Sleep in my Living Room/ Dining room area. But i would suggest completely blocking off the area you sleep in. I had doors installed to completely separate that area of the house. Its basically like I have a super large 5th bedroom. In my area you can make about $1,000 a month per bedroom so its worth it to me. My area attracts a lot of business professionals and all they require is a nice clean area to sleep in for cheap. I allow access to the kitchen and laundry room. 95% of my guests stay in their room the entire stay. Keep it simple. Put electronic locks on all the doors including the front door to the house and your own room you use. You're basically creating a cash cow hostel if you do it right. Make sure you have enough parking and bathrooms and you're good.

Paul Sandhu · Answer

You might try the G4P market.

AirBnB Bedrooms while I'm In The Living Room?

AirBnB Bedrooms while I'm In The Living Room?

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