Pros and Cons to letting a third party Airbnb my rental unit?

[Lewis Goldstein]

I have had many people contact me about leasing one of my rentals as an Airbnb. Has anyone here rented out their units to someone else, so they can Airbnb it? What are the pros and cons? Property is a four plex and I live in one of the units and would not consider doing Airbnb myself, as I do not want the extra work that would go along with it.

[Nathan Gesner]

You have no control. Are they complying with the law? Are they violating terms of the marketing platform? Are they renting it out to porn producers and college party animals? You take on the risk of any law or code violations, injured parties, etc.

Why let someone else make money with your property? If your property is zoned and suitable for AirBnB and you think it can make more money, do it yourself. Too busy? Hire a company that will manage it for you. See if it's worth the extra cost and effort.

Based on what I've personally seen, most people doing this are of the get-rich-quick mindset and generally irresponsible. They saw some videos on YouTube or maybe read a Grant Cardone book and they want to use your property to build wealth when they don't even know how to live on a budget. Truth is, they'll find it's more work than they thought or it won't produce as much money or they'll squander the money renting a Ferrari or mom will kick them out of the basement and they'll have to move in with dad in another state or they'll have a code/law/rule violation that shuts them down and they'll just slink off to the next big idea and leave you holding the bag.

I'm exaggerating (some) but you did ask for some cons.