By - Macaron_Successful
How many times are you going to post on this [topic?](https://www.reddit.com/r/AskNYC/comments/z3m98f/potential_roommate_situation_gone_sour_plan_airbnb/?utm_source=share&utm_medium=ios_app&utm_name=iossmf)
Your landlord is not going to like your turning a profit in his/her/their property. Your neighbours are going to hate you for having a revolving door of overnight guests with luggage. Just get a roommate if you can’t afford the rent.
how many different ways are you going to ask this question?
I realized the fallacy of having to deal with other roommates albeit cheaper in rent with more rooms, I think I can also upcharge/night if I did it fully on myself with a 2bed and use the other bed as a guest room for hosted Airbnb to make it valid.
New York has a lot of laws regarding when it’s legal to operate an Airbnb. I’d make sure you’re very familiar with them before taking this on.
This looks valid since I will be the primary lease holder and can host the guest in a private room/guest room. I can pay without the Airbnb income but would love to actually create a business out of it and end up paying less.
Friendly AirBnB Warning: NY state law prohibits renting apartments for less than 30 days if the lease holder isn’t present.
Apartment sharing is legal only if one homeowner (or tenant) is also staying in the unit with guests.
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The fact that you say you don't want to deal with roommates.... but would be willing to to have different random people stay in your spare room each night shows you are not thinking this through.
I'm imagining all the texting with each guest you have to do, waiting around to hand over keys, awkward conversations each night with different guests, the issues with four people showing up to sleep in one bedroom because Airbnb renters don't read rules. Your immediate neighbors banging on your door and complaining to your landlord about all your guests.
Sure, sounds fun. Easy stuff.
take a look at the Airbnb listings with all their information and read the reviews, sounds like a huge success. Think about your experience when you traveled and stayed at Airbnb. It was pleasant right and there is constant technology improvements and screening in the latest winter update with the Airbnb platform.
Totally. Go for it. What's the worst that could happen?
The answer to this is more complicated than you have anticipated - especially the tax end of it. Which expenses (and how much) will you actually be able to deduct? How will the additional income affect your existing tax rate? I recommend talking to a CPA about it.
Beyond all of that - you’re going into this assuming the success of your operation. What happens if you try it and it isn’t to your liking? Or it turns out you can’t actually provide what people want, resulting in low ratings/high vacancy? Can you afford the place without Airbnb working out?
Lastly - month-to-month cuts both ways. Are you mentally prepared to close up shop and move out of this place, should your landlord issue notice?
This is getting ridiculous my friend
Go live in midtown or something wtf?
Midtown for a 2Bed probably 6K/month and with airbnb'ing the guest room I can probably do $150/night, is that reasonable? Target market and competition might be fierce versus if I did this in Bushwick and have more of the young solo traveler backpacker market so they in theory will not be carrying large suitcases.
No. Don't air bnb. If you can afford a $3000 per month 2 bedroom then you can afford a $3000 1 bedroom in a more expensive area.
Yes, but in the more expensive area I pay directly $3K and I do not run my own business, with no tax deductions or exemptions. With the $3K for a 2 bed, I am actually paying $1K to live and create my own business that works with my current lifestyle for work and travel occasionally. This also puts off a lot of the stress on paying $3K rent during a possible economic downturn. Opportunity for passive income and additional revenue streams too.
If you do this you will piss off your landlord and your neighbors. If you make over $120,000 a year then you can afford $3000 a month in rent and live perfectly fine. If you make less than $120,000 a year then you wouldn't qualify for the $3000 per month apartment.
1) outside of something like a trust fund, there is no such thing as “passive income.”
2) in the event of “a possible economic downturn,” you’re going to see a reduction in tourism = a reduction in rental income.