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Negotiating lease terms for new airbnb property

hosting

#1

Hey everyone! First post here as I am just getting into the Airbnb lifestyle. So i have to be short as I currently have a cast on my wrist and typing is a pain so forgive me but I must summarize everything.

I rent out a 6,000 sqft loft. 6 bedrooms, 1.5 bath about a mile from Downtown Los angles. Lease is up for renewal and have tenants occupying space currently. Goal is to revamp space to make more luxurious and appealing. Area isn’t the best but the apartment is a hidden gem of sorts. Can anyone point me in a direction of what the lease needs to say about subletting and rules. Also, it is C-2 zoned so Airbnb would be a legit business instead of at a home.

Thanks!


#2

Can you clarify: Do you currently own it, or looking to renew the lease?

And your plan is to remodel/update the space and then Airbnb it, right?


#3

Sounds like a priority is to get some more toilet and bathroom facilities.


#4

I am renewing the lease; I do not own.

My plan is to update it for airbnb yes.


#5

The goal is to rent the whole property at once, not room by room.


#6

Will your landlord allow subletting? Are you aware of the insurances you need? Will your landlord be up for fi es if you do this? Have you informed them that you want to do this?
In my view you don’t have enough bathrooms for that many bedrooms.


#7

Regardless ‘one and a half bathrooms’ (one bathroom and one toilet?) Is knee crossingly lacking for 6 bedrooms! If you have more than one person in some of the bedrooms that’s a lot of people!


#8

Our specialty here on the Airhost forum is answering questions you didn’t ask. So no, 1.5 bathrooms is not enough for a 6000 sq ft “luxury” listing. Maybe it’s sufficient for a dance or art studio. I rented a 7000 sq ft luxury house last year and it had 4.5 bath/5 bedrooms.


#9

Greatly appreciated! I shall look into building another bathroom/shower! I have one room that is about 20 feet wide by 100 feet long that I am unsure what to do with as well. I have a full sound stage set up there as we use it for concerts and a venue space. Anyone have an idea what I could make the space into and also have it where we can throw venue’s?


#10

I am able to sublet and the C-2 zone allows “hotels, motels, Bed and Breakfast” basically anything under a 30 day stay for living. I currently sublet each bedroom out for a monthly fee on a month to month lease. I also have insurance for the property.


#11

sounds like you’re asking for legal advice, so you can go on line and get contracts. pay a fee for legal advice on line, maybe?


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