Lease to Airbnb Cashflow
Does anyone have experience with this?
I live in North Jersey and its obvious NYC which is 2 miles from my home is the most visited place in the entire world. One time my girlfriend and I placed our place on air bnb because we would be gone for 2.5 weeks and had bookings within 2 hours. Filled all 2 weeks no problem and on short notice. Had my brother clean and get the place ready for the next person to come and threw him a few bucks.
Anyway, the demand is there that is no question. In NYC you can rent private bedrooms with a kitchen and bathroom common area for 1k on the minimum side and 2k on the higher side per month. These places are fully furnished and seem perfect to airbnb. A private room can easily rent for 80-100 a night in NYC so the numbers would definitely work with 50% vacancy. I think vacancy in NYC is more in the 5-10% range. Reason I can tell is places on airbnb are solidly booked for months out on air bnb in Manhattan.
If i had a sub-lease agreement in the contract to allow me to short term lease I feel like it is too obvious of a way to make money. Does anyone know of any setbacks here or have any experience with this?