I was presented with a good opportunity to rent out a 5 bedroom apartment that my landlord was using for his family, but they decided to move out because they bedrooms have no windows. Since he bought the property intending to use it for his family, he is going to have trouble renting it out on a monthly basis and it’s not ideal for office so I presented him with the idea of AirBnB. He said I could rent out the property from him and do AirBnB (which I know is rare). The space is in a good location, Chinatown, Philadelphia and I feel I’m helping the landlord out and he is helping me out since it’s an odd space. I live in the unit above it so it would be easy to manage
My question is:
- How much does it affect house guests and profits for them to share a common area but still have a private room.
- Not having windows in 4 of the 5 rooms. Obviously it would effect someone living their long term, but someone just needing a private bedroom to sleep would be a different story. I can’t find information on the legality of it. It’s vague for some reason.
- I’m paying $2000 for rent and ideally would like to profit profit $1000 - $2500 charging $50 per room with 5 rooms and 40-70% occupancy.
Thanks a bunch!