Experiences with allowing residents to rent on Airbnb?

Hi all,
Recently, I've been receiving inquiries from prospects about allowing Airbnb rentals. Have any of you allowed or banned Airbnb in your building? What are the pros and cons? Would appreciate if you could share any opinions or experiences!

Hi Daniel,
I can't answer your question directly, but here is a really good piece on it: www.multifamilyinsiders.com/multifamily-...family-friend-or-foe

I am seriously considering moving to Airbnb in my rentals but have not done so. I have a couple points of perspective since I would also be the ideal customer.

I have the highest level status on with a major hotel chain (4 years of my life in a hotel). I also have extensive experience with furnished corporate apartments sublet by the tenant. To boot, I have started staying at Airbnb.

I will never go back to hotels if I can find the right Airbnb close by. The convenience and cost are worth it for me since I spend significant time in a location. I often stay too long for a hotel and not long enough for a lease.

I am now looking at which properties are best to trial my venture into Airbnb. I would need 10 nights per month to equal my rental income.

Some management companies are utilizing the NAA lease with has an addendum restricting the option of a resident subletting for short periods of time, including Airbnb. However, for student housing properties, especially when close to the campus and have huge football programs, we used Game Day Rentals and rented out Model Apartments for those weekends. This brought in the potential of $5-6,000 income per game. We did not allow the students to do so because we needed control of who was admitted to the property.

For another community where there was less turnover, I kept one unit available to short term leasing only and usually it was full 12 months of the year, and we made extra income off the short term fees. Residents could also reserve it for their families if it was available for certain times of the year (holidays).

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