Should I rent out my apartment on AirBnB ?

Question

I have a 6-plex building in midtown KC located between the downtown area and all the major hospitals and a university. It's a nice area, but finding long-term renters can be a challenge, especially in the off-season. A friend of mine suggested the location is perfect to do AirBnB and I've really considered it, but before I invest in all the decor and furnishings I thought I'd ask if anyone here had some thoughts on the matter?

I am well aware I'll have to pay utilities for the apartment and my insurance costs are going to go up. Furthermore, my parents think my renters occupying the other 5 units are going to get upset and non-renew at the end of their lease if I start treating 1-2 units like a hotel.

Account Closed · Answer

@Edward Wodziak There are approx. 10 within walking distance.

William Beck · Answer

Check the regulations.  I don't know what KC regulations are recently but I think in general larger cities are higher risk for regulatory issues.

Eliott Elias · Answer

Is it going to make you more money? Pull up some Airbnb's in that area and see what the going rate is, see how far they are booked up. If there is a demand for it then I don't see why you wouldn't. If the other units don't renew convert them to Airbnb's!

Edward Wodziak · Answer

Do they look like they are mostly booked? How are the quotes? Have they been around for awhile?  Obviously it is a good sign that there are that many around you.

Andrew Street · Answer

Hey Rob,

Awesome to see that you are looking into short term rentals as an option!

I just messaged you and hope we can connect!

There's always nuance to these situations, so I'm sure I could provide some more insight real time.