@David O
I live in San Diego and have two friends who have been AirBnBing their places (I'm unaware if their leases allow it or not, but let's assume they do). They were only doing it as they work out of town and wanted to cover their rents, but told me to do it as we're in the same line of work and my place has been empty for the past 3 months.
Here in SD it looks like people can easily rent out their apartments for 20+ days a month, and although I'm not 100% sure, we're pretty much a year round destination.
@Colleen F. You bring up some good points, but I wonder if they could be mitigated by renting a small cottage house here, so that you don't have neighbors to worry about. I would want to be up front with people and let them know that I may be subletting their places for some amount of time. Perhaps the next step is to call some places and see what they say when I tell them this?
@Account Closed I totally get your concerns John and that's why I'm kind of thinking out loud. I figure the unfurnished costs for my own 1br apartment are about $1200, plus costs to modestly furnish a place, maybe another $5k ( I don't think I spent that much, especially if I take out my $2k bed), the unknown are cleaning costs, which are usually tacked on and paid by the renter, so we'll not include those. Extra costs would then be reserves for damages, but I think you get a security deposit as well.
Similar apartments are going for around $120 a night (not accounting for boosting the price on holidays or weekends) which would put the bare bones break even point at around 10 days...? IDK, again, I'm just doing quick back of the napkin numbers here, and would need to look into in more, but other places in my neighborhood are booked about 20 nights a month for the next few months which means about 10 days worth of "rents" should go to the bottom line.
This topic seems to have interested at least a few people, so I'll keep updating here as I look into this further, thanks for everyone's contributions.
