Using a house duplex or triplex unit exclusively for Airbnb?

[Byron W.]

Is anyone here using a unit in their duplex, triplex or renting out areas of their SFH to Airbnb regularly? It's something I've been giving a lot of thought and I'm interested to know what the numbers are and how it's working out for others.

- How much is your mortgage on the place?

- How often are you booked?

- What is your income from the Airbnb (before/after fees)?

[Vijay Prabhakaran]

I've starting doing Airbnb for a unit in Logan Square.  So far it is about break even with just renting the unit since I have a management company.  If you are going to self manage an Airbnb I would think you can make 25-30% more than renting to long term tenants.  Occupancy takes a little time to full book from what I've been told until you have ~10 reviews. My expectation is to make 20% more than long term rent with the management company in place.   My main concern is winter, I will probably look for a short term lease over winter if I can find one just to reduce the risk.

Chicago does charge hotel taxes to Airbnb, and another 4% fee on top of Airbnb's fees which are published.  Chicago also require registration but I don't think anyone get denied and I don't think there is any enforcement yet.