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Renting out a room on AirBNB?
05-07-2018, 04:05 PM
Hi there,
Has anyone any thoughts on this?
I have two free bedrooms in a popular area of Chicago. With summer on, they would fill pretty often I think.
Thanks.
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Renting out a room on AirBNB?
05-07-2018, 06:52 PM
Check your local laws. Many cities are banning it.
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Renting out a room on AirBNB?
05-07-2018, 07:16 PM
Make sure you take steps to limit your own liability if it becomes a place where a party is hosted. That's a huge issue in the US. Also, look into eviction/squatting laws, serious stuff in many states if they won't leave.
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Renting out a room on AirBNB?
05-07-2018, 10:20 PM
I do it in Vegas. I've heard they're cracking down so I've cut off all bookings after June.
It's been great though, only 1 bad experience out of many. Brings in an extra $600-800 per month.
The local laws here basically make it impossible for me to do it legally, but I also don't see how they can actually cite me if they never see me. It's not like they can get a search warrant. There's no photo identifying my house on my profile.
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Renting out a room on AirBNB?
05-08-2018, 11:24 AM
Quote: (05-07-2018 10:20 PM)Veloce Wrote:
I do it in Vegas. I've heard they're cracking down so I've cut off all bookings after June.
It's been great though, only 1 bad experience out of many. Brings in an extra $600-800 per month.
The local laws here basically make it impossible for me to do it legally, but I also don't see how they can actually cite me if they never see me. It's not like they can get a search warrant. There's no photo identifying my house on my profile.
IRS will receive a copy of the income tax document they send, for example
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Renting out a room on AirBNB?
05-09-2018, 08:29 AM
Can't a tourism/tax inspector simply book your listing and after checking in ask for your license and fine you? I've seen this happen with all sorts of new self-employent industries, from accommodation to Uber to intellectual services.
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Renting out a room on AirBNB?
05-09-2018, 11:25 AM
I've seen ex-cop Private investigators used to catch people who lease properties for less than X months without a permit. Biggest give away they use to get you is out of state licence plates on the cars.
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Renting out a room on AirBNB?
05-09-2018, 11:19 PM
It’s perfectly legal in chicago. You just need a permit and to pay taxes.
I own the place.
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Renting out a room on AirBNB?
05-10-2018, 02:48 PM
You may also be able to post on Craigslist sublets. I've seen people "subletting rooms" for X per month which is an inflated price. The demand in the summer is crazy high so you may do well with it.